The forum was organized by the HCMC Trade and Investment Promotion Center (ITPC) and the Consulate General of India in Ho Chi Minh City. Speaking at the event, Vice Director of ITPC Ho Thi Quyen affirmed that Ho Chi Minh City would apply many preferential policies to attract Indian investors.
Consul General of India to HCMC Madan Mohan Sethi informed that India has more than 400 investment projects in Vietnam with a total registered capital of more than US$1 billion, ranking 26th out of 141 countries and territories doing business in the Southeastern country.
Vietnam and India have signed a bilateral trade agreement, therefore, the two sides have a lot of potential to develop the import-export market.
Currently, the most populated country in the world has become Vietnam's eighth largest trading partner with a total two-way trade turnover exceeding US$15 billion. Of the sum, Vietnam's exports to India reached more than US$8 billion.
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Consulate General of India in Ho Chi Minh City Madan Mohan Sethi speaks at the forum. |
According to the Consul General of India, new mechanisms, policies and incentives of Ho Chi Minh City have remained attractive to foreign investors.
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Many Indian businesses are learning about preferential investment policies in Ho Chi Minh City. |
Ho Chi Minh City is valued to be a very large market with a wide range of opportunities for investors. HCMC has 400,000 enterprises, including nearly 15,000 foreign direct investment (FDI) enterprises.
The city welcomes more than 9 million turns of international arrivals a year on average, accounting for nearly 50 percent of the total number of international visitors to Vietnam, and more than 32 million turns of domestic visitors, accounting for nearly one-third of the number of domestic tourists in the country.
Under specific policies and mechanisms of the National Assembly's Resolution 98 to develop Ho Chi Minh City, the city will focus on attracting investment projects to build innovation centers, research and development (R&D) centers, investment projects in research and supporting high technology transfer in the fields of information technology, biotechnology, automation technology, new material technology, clean energy with investment capital from VND3 trillion (US$125 million).
The semiconductor and integrated circuit industry, design technology, component manufacture, PE, chip, new-technology battery, new materials and green energies will give priority to projects with at least investment capital from VND30 trillion (US$124.6 million).
