Vietnam Firms Evince Interest To Invest In Telangana

Vietnam: A progressive  business environment is prevailing in the state of Telangana by the pro-active government , coupled with ease of doing business” stated the FTCCI Business  to their Vietnamese counterparts. FTCCI Led business delegates is visiting Ho Chi Minh city, Vietnam to explore the trade and business opportunities in Telangana.

Vietnamese firms evinced keen interest in investing in the state of Telangana. This was stated during the visit of Telangana trade to Vietnam led by FTCCI to explore trade opportunities between Vietnam and the state of Telangana.

A 30+ trade delegation led by FTCCI is visiting Vietnam on the invitation of The Vietnam Chamber of Commerce and Industry (VCCI), Vietnam and the Consule General of India to Vietnam along with Vietnam Government. The visit is aimed   to exchange and explore trade and investment opportunities in Vietnam and to share details of opportunities in the state of Telangana.

FTCCI also signed a MoU with The Vietnam Chamber of Commerce and Industry (VCCI), Vietnam. The main objective of the MoU is to help facilitate and promote trade and investment between both economies.

The MoU were exchanged between Mr. TRAN NGOC LIEM, General Director, The Vietnam Chamber of Commerce and Industry – Ho Chi Minh City  (VCCI - HCM) and Mr Anil Agarwal President FTCCI in the presence of  VCCI & FTCCI members

Speaking on the occasion Mr Anil Agarwal, President FTCCI said “It is indeed a great pleasure signing a MoU with The Vietnam Chamber of Commerce and Industry (VCCI), Vietnam and taking our relationship further. India is one of the top 8th trading partners of Vietnam while Vietnam is 15th largest trading partner of India and fourth in Southeast Asia. The state of Telangana has shown a good growth over the years with increased GSDP (Gross State Domestic Product) by 128% approximately in last 5 years which is the fifth highest growth by any state in India. Telangana has 63 SEZ (Special Economic Zone), one of the highest in India and the state has attracted $21 billion Investments since its inception in 2014.”

Mr. TRAN NGOC LIEM, General Director, The Vietnam Chamber of Commerce and Industry said “It’s indeed a pleasure to exchange MoU with FTCCI. We are confident that this understanding will pave way for many more investment opportunities in both the regions. Vietnam trade is  keen to explore Agriculture, Food processing; Dairy and service  sectors in Telangana ” .

Commending FTCCI & VCCI Dr. Madan Sethi, Consule General of India to Vietnam said “Vietnam economy is projected to continue its growth trajectory. India and Telangana has a great potential to partner in Agriculture, Manufacturing and service sectors. In the recent years we have seen a considerable increase in both nations bilateral trade and posted a growth of 27% and reached US$ 14.14 billion. I am sure this MoU will help explore and create opportunities for both country trade and industry”

Mr Chakravarthi AVPS Chairman - International Trade & Business Relations FTCCI said “ In the year 2020-21, for India, Vietnam was the 15th largest trading partner globally and the 4th largest within ASEAN, following Singapore, Indonesia and Malaysia. For Vietnam, on the other hand, India was the 10th largest trading partner globally. During FY 2020-2021, key items of exports from India to Vietnam included iron and steel, cotton, frozen meat, auto component, seafood, electrical machinery and equipment, animal feeds and cereals. Major Indian exports that registered positive growth during this period were cotton, auto component, electrical equipment, animal feed ingredient, cereals and pharmaceutical products. Key items of imports into India from Vietnam during this period were electrical machinery and equipment, chemicals, copper and articles of copper, products of iron and steel and agro based commodities”

FTCCI on behalf of Telangana government pitched to Vietnamese companies to set up manufacturing units in Telangana either directly or through JVs.

India to Vietnam along with Vietnam Government. The visit is aimed   to exchange and explore trade and investment opportunities in Vietnam and to share details of opportunities in the state of Telangana.

FTCCI also signed a MoU with The Vietnam Chamber of Commerce and Industry (VCCI), Vietnam. The main objective of the MoU is to help facilitate and promote trade and investment between both economies.

The MoU were exchanged between Mr. TRAN NGOC LIEM, General Director, The Vietnam Chamber of Commerce and Industry – Ho Chi Minh City                                                                                                                                                                             (VCCI - HCM) and Mr Anil Agarwal President FTCCI in the presence of  VCCI & FTCCI members

Speaking on the occasion Mr Anil Agarwal, President FTCCI said “It is indeed a great pleasure signing a MoU with The Vietnam Chamber of Commerce and Industry (VCCI), Vietnam and taking our relationship further. India is one of the top 8th trading partners of Vietnam while Vietnam is 15th largest trading partner of India and fourth in Southeast Asia. The state of Telangana has shown a good growth over the years with increased GSDP (Gross State Domestic Product) by 128% approximately in last 5 years which is the fifth highest growth by any state in India. Telangana has 63 SEZ (Special Economic Zone), one of the highest in India and the state has attracted $21 billion Investments since its inception in 2014.”

Mr. TRAN NGOC LIEM, General Director, The Vietnam Chamber of Commerce and Industry said “It’s indeed a pleasure to exchange MoU with FTCCI. We are confident that this understanding will pave way for many more investment opportunities in both the regions. Vietnam trade is  keen to explore Agriculture, Food processing; Dairy and service  sectors in Telangana ” .

Commending FTCCI & VCCI Dr. Madan Sethi, Consule General of India to Vietnam said “Vietnam economy is projected to continue its growth trajectory. India and Telangana has a great potential to partner in Agriculture, Manufacturing and service sectors. In the recent years we have seen a considerable increase in both nations bilateral trade and posted a growth of 27% and reached US$ 14.14 billion. I am sure this MoU will help explore and create opportunities for both country trade and industry”

Mr Chakravarthi AVPS Chairman - International Trade & Business Relations FTCCI said “ In the year 2020-21, for India, Vietnam was the 15th largest trading partner globally and the 4th largest within ASEAN, following Singapore, Indonesia and Malaysia. For Vietnam, on the other hand, India was the 10th largest trading partner globally. During FY 2020-2021, key items of exports from India to Vietnam included iron and steel, cotton, frozen meat, auto component, seafood, electrical machinery and equipment, animal feeds and cereals. Major Indian exports that registered positive growth during this period were cotton, auto component, electrical equipment, animal feed ingredient, cereals and pharmaceutical products. Key items of imports into India from Vietnam during this period were electrical machinery and equipment, chemicals, copper and articles of copper, products of iron and steel and agro based commodities”

FTCCI on behalf of Telangana government pitched to Vietnamese companies to set up manufacturing units in Telangana either directly or through JVs.