The bilateral trade between Vietnam and India has approximated US$5 billion and been targeted at US$7 billion by 2015, said India Consult General to Ho Chi Minh City Smita Pant on October 21.
She was speaking at a conference hosted by the India Consulate General to HCMC about investment and cooperation between the two countries.
According to her, Indian investors plan to invest US$2 billion in Vietnam and create 2,000 jobs. They are interested in wind power, recycling, agriculture and infrastructure development fields in Vietnam.
She called on Vietnamese enterprises to invest in the US$1.3 billion population Indian market. The country has implemented an online licensing program and provided incentives to lure investors in 24 fields.
HCMC People’s Committee Deputy Chairman Tat Thanh Cang said that the bilateral trade between HCMC and India hit US$700 million last year. Indian enterprises are now carrying out three projects in HCMC.
Mr. Cang expressed hope that cooperation relations between HCMC and India would strongly grow in all fields.
