Favourable conditions created for Indian businesses in Ho Chi Minh city

Vietnamese dragon fruits appeal to Indian customers. (Photo: VNA)

During the reception, the Chairman of the Ho Chi Minh city People’s Committee appreciated India’s coordination and support for Vietnam in its roles as ASEAN President 2020 and non-permanent member of the UN Security Council term 2020-2021, stressing that the Vietnam – India comprehensive strategic partnership was developing well in all areas, including positive progress in the relationship between Ho Chi Minh city and India.

According to Chairman Phong, despite the consequences of COVID-19, the total import-export turnover between Ho Chi Minh city in 2020 reached over USD1.5 billion. As of mid-December, India had 161 valid projects with an investment capital of over USD74 million, ranking 25th among 110 countries and territories investing in the city.

Talking about Ho Chi Minh City, Chairman Phong said that Ho Chi Minh City is currently Vietnam’s leading economic, cultural, scientific and technological center, and a hub for international cooperation. “Currently, the city is promoting the implementation of the project on ‘smart city’, a financial center and Thu Duc City,” he added. "The implementation of these projects is a premise to help the city promote its advantages and continue to develop sustainably."

He expressed his belief that Vietnam's effective COVID-19 prevention, which is highly appreciated by the international community, along with an increasingly improved investment environment, will help Ho Chi Minh City be a destination attracting many foreign investors after the pandemic, including Indian businesses.

Appreciating the development of Ho Chi Minh City, Indian Consul General to Ho Chi Minh City Madan Mohan Sthi said he hoped Ho Chi Minh City would create favorable conditions for Indian businesses to survey investment in the city, pledging to support the city’s businesses increasing investment and cooperation in India.

He also suggested increased bilateral cooperation in tourism, investment, trade, education, culture, sports and high technology./.


Other Stories