President To Lam encourages Indian investment in Vietnam

President To Lam was speaking at a reception in Hanoi on June 26 for Indian Ambassador to Vietnam Sandeep Ayra.

He emphasized that Vietnam and India have treasured a strong traditional friendship nurtured by the leaders and peoples of the two countries over the past decades, and they have now become comprehensive strategic partners with important role and position in each other’s foreign policies.

He spoke highly of the Ambassador’s contributions since assuming his assignment in Vietnam, and suggested that the diplomat continue to coordinate closely with the Ministry of Foreign Affairs, other ministries, agencies and localities to further strengthen cooperation between the two countries.

Lam noted that the two countries have made great strides in increasing bilateral cooperation, especially in economics, trade and investment, with two-way trade reaching nearly US$15 billion by 2023. He expected that both sides would create favourable legal corridors for trade and investment activities, striving to soon raise their trade turnover to US$20 billion in the coming time.

At the same time, the president encouraged the two countries to promote cultural, religious and historical connections to enhance tourism cooperation and people-to-people exchanges. He asked the Ambassador to continue fostering support for Vietnam through scholarship programs and preferential credit packages as well as non-refundable aid.

Ayra for his part affirmed that he would try his best to promote India-Vietnam relations, by arranging high-level visits, further deepening defense, economic-trade, science - technology, culture - tourism cooperation, and expanding cooperation into new fields.

He said India is cooperating effectively with Vietnamese agencies and localities through undertaking quick impact projects (QIPs), including a project to restore Cham towers complex in My Son, as well as organizing International Day of Yoga (June 21) in many localities, contributing to spreading humanistic and positive cultural values ​​between the two countries.

Both host and guest also exchanged views on regional and international issues of mutual concern.

The president proposed that the two countries continue to coordinate closely at multilateral forums, contributing to consolidating peace, stability and development in the Asia-Pacific and Indian Ocean regions. He highly appreciated India’s implementation of the Act East policy through practical and specific cooperation activities with ASEAN countries, including Vietnam.

The ambassador shared the president’s view that the two countries should further strengthen cooperation and mutual support in the context of the current complex fluctuations both regionally and globally.