December 20, 2017 | 21:53 (GMT+7)
India firms seek investment opportunity in Binh Duong
A delegation from the Confederation of Indian Industry (CII) led by First Secretary of the Indian Embassy in Vietnam Rafiv Bodwade has paid a field trip to the Southern province of Binh Duong to seek investment opportunities in the locality.
During a working session with representatives from the provincial People’s Committee on December 19, Rafiv Bodwade said Indian firms have noticed many investment opportunities in Vietnam, especially in Binh Duong – an industrial hub located in the Southern key economic area.
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Scene of the working session. Photo: baobinhduong.vn |
Indian enterprises give priorities to investing in the fields of agriculture, pharmaceutics and renewable energy, he stressed.
Vice Chairman of the provincial People’s Committee Tran Thanh Liem briefed the guests on the locality’s socio-economic development, noting that Binh Duong has 29 industrial parks and eight industrial clusters with a total area of over 10,000ha.
The locality has so far attracted USD 28.5 billion in foreign direct investment (FDI) from 3,360 enterprises, but Indian-run projects number only five with a total investment of USD 170 million, he said.
Binh Duong is calling for investment in projects on large scale which use advanced technologies with less labor and create high added-value products, he added.
India has 134 investment projects worth USD 1.1 billion in Vietnam. Two-way trade in 2017 hit over USD 10 billion, year-on-year increase of 29 percent. The two nations aim to lift their trade to USD 15 billion by 2020
Source: VNA