Increasing Vietnam-India Business Cooperation Opportunities

9:52:09 AM | 8/2/2022

VCCI Vice President Bui Trung Nghia recently received Mr. Pradeep Deviah, President of PDA Ventures (India) at VCCI headquarters. The two sides discussed more cooperation in the coming time.

Mr. Pradeep Deviah wished that Vietnam Chamber of Commerce and Industry (VCCI) would support the organization of Vietnam International Investment Promotion Forum and Exhibition, which is expected to be held in Hanoi in March-April 2023.

The exhibition, which will bring together businesses from around the world and India investing in various industries in Vietnam, is aimed to advertise Vietnam as an attractive destination for foreign investors to attract more international businesses, including those from India, he said.

Besides, he said, PDA Group's media channels and event systems will support Vietnamese businesses to promote their brands and products to the Indian business community and consumers and countries around the world. At the same time, it is possible to promote India's MICE (Meetings, Incentives, Conferences, Exhibitions) tourism to Vietnam and vice versa.

Remarking on business cooperation opportunities between Vietnam and India, VCCI Vice President Bui Trung Nghia highly appreciated business cooperation opportunities between Vietnam and India through trade promotion programs such as the upcoming exhibition.

Speaking of cooperation in exhibition organization, he said that the two sides need to strengthen the exchange of specific information in the coming time to better support Vietnamese and Indian business cooperation.

Currently, India is the leading economic partner of Vietnam in South Asia and the 8th largest trading partner of Vietnam. Meanwhile, Vietnam is the 23rd largest trading partner in the world and the 4th largest in the ASEAN region of India.

In the first six months of 2022, two-way trade value reached US$7.7 billion, up 22% year on year. Of the sum, Vietnam's exports to India were valued at US$4 billion, up 39%, while its imports amounted to US$3.7 billion, up 8%. The two countries aimed to reach a bilateral trade value of US$15 billion this year.

In investment, as of June 20, 2022, India ranked 24th out of 139 countries and territories investing in Vietnam, with 328 projects with a total registered capital of over US$1 billion.

For its part, PDA Ventures Group, established in 1997, is one of the largest exhibition, conference and event management firms in India. With more than 20 years of experience, PDA has successfully organized specialized forum and exhibition events in India and abroad on investment promotion, maritime, furniture manufacturing industry, banking technology, renewable energy and others.

Exhibitions and conferences organized and co-organized by PDA help bridge and promote international trade and investment; support attracting international investment in industries in India for domestic production and re-export; and look for joint venture partners, distributors, or manufacturers in India.

By Huong Ly, Vietnam Business Forum