Thua Thien-Hue intensifies trade promotion with India

Thursday, 2013-12-19 11:44:00
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Thua Thien – Hue attracts many investment projects to develop textile industry
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Nhan Dan/VNA - Thua Thien-Hue province’s potential and its policies to attract investment were presented to Indian businesses at a seminar held in the central locality on December 18.

Jointly held by the provincial People’s Committee, the Vietnam Chamber of Commerce and Industry and the Indian Embassy, the seminar also offered a chance for local businesses to meet and cooperate with Indian investors.

Vice Chairman of the provincial People’s Committee Phan Ngoc Tho said that India is a market with huge potential for businesses of Vietnam and Thua Thien-Hue in particular, especially in electronics, information technology and garments and textiles.

The province has implemented the one-stop-shop mechanism and simplified administrative procedures along with providing support for businesses in investment and trade promotion and vocational training, he said.

Do Huu Duy, deputy head of the Africa, West Asia and South Asia Department under the Ministry of Industry and Trade, briefed participants on the potential of the Indian market, the Vietnam-India trade ties, advantages of the ASEAN-India free trade agreement, as well as proposals to boost bilateral trade in the time to come.

According to him, India is now one of Vietnam’s leading trade partners. Two-way trade is estimated at more than US$3.9 billion in 2013, of which over US$1.8 billion come from Vietnam’s exports to India.

Vietnam mainly sells mobile phones and components, machinery, rubber, iron and steel to India, while importing animal feed, pharmaceutical products, machinery, corn, cotton and plastic materials from this market.