Indian Companies Explore Collaboration Opportunities with Vietnam

During the Vietnam Foodexpo 2023, an Indian business delegation organized by the Vietnam Trade Office in India, in coordination with the Indian Chambers of Commerce and Industry (FICCI) and the Federation of Indian Export Organizations (FIEO), attended the event.

Vietnam Foodexpo 2023 is being held at the Saigon Exhibition and Convention Centre (SECC) in Ho Chi Minh City from November 22-25. The event showcases over 500 booths from nearly 400 domestic and international enterprises, including businesses from 30 Vietnamese cities and provinces, as well as over 20 countries and territories like the US, Russia, Australia, China, the Republic of Korea, and Japan.

Vietnam Foodexpo 2023: Indian Businesses Seek Cooperation Opportunities with Vietnam
The Vietnam Trade Office in India has coordinated the organization of an Indian business delegation to attend Vietnam Foodexpo 2023. Source: congthuong.vn

According to Bui Trung Thuong, Vietnamese Trade Counselor in India, the Indian business delegation consists of more than 30 participating businesses, with over 20 businesses organizing exhibition booths at the expo and 14 businesses participating in the exhibition as international buyers and visitors.

During Vietnam Foodexpo 2023, Indian businesses are displaying products that Vietnam needs to import to serve the domestic manufacturing industry, such as raw materials and accessories for animal feed production, rice, corn, peanuts, cereal products, frozen meat, and spices.

India is currently the leading producer and exporter of agricultural products and also imports a large quantity of agricultural products and processed foods to meet domestic demand. The participation of Indian businesses aims to provide a reliable source of supply for Vietnamese businesses for products like rice, corn, raw materials for animal feed production, and buffalo meat, said Commercial Counselor Bui Trung Thuong.

Moreover, the event also serves as an opportunity for Vietnamese businesses to connect with buyers from India for Vietnam’s high-potential processed food products.

Vietnam Foodexpo 2023: Indian Businesses Seek Cooperation Opportunities with Vietnam
This is an opportunity for Vietnamese businesses to connect with buyers from India for Vietnam’s high-potential processed food products. Source: congthuong.vn

The Vietnam Trade Office in India emphasized that trade plays a vital role in bilateral relations between the two countries and has steadily grown over the past two decades. Bilateral relations have increased from around USD 200 million in 2000 to USD 15 billion in 2022. For the first 10 months of 2023, export turnover from Vietnam to India has experienced positive growth, reaching USD 7 billion, a nearly 5% increase compared to the same period in 2022.

As a result, India has become one of Vietnam’s top eight trading partners, while Vietnam is among the top four ASEAN countries that have trade relations with India.

“Bilateral trade between the two countries is relatively balanced and complements each other quite well,” said Bui Trung Thuong. He added that India is an important source of raw materials and finished products for Vietnam, including iron and steel products, chemicals, pharmaceuticals, textiles, animal feed, and seafood. On the other hand, Vietnam’s top export products to India include personal computers, mobile phones and components, iron and steel, chemicals, wood and wood products, shoes, spices, coffee, and pepper.

Last week, the Consulate General of India in HCM City, in coordination with the Investment and Trade Promotion Centre of HCM City (ITPC), organized the India Business Forum – HCM City 2023.

As of October 2023, India has 237 investment projects in HCM City with a total capital of over USD 130 million, ranking 23rd among 120 countries and territories investing in the city.

Hannah Nguyen

The post Indian Companies Explore Collaboration Opportunities with Vietnam appeared first on Vietexplorer.com.

Nhận xét

Đăng nhận xét

Bài đăng phổ biến từ blog này

Hanoi celebrates Christmas with unity and love

Hình ảnh
Despite the cold weather this Christmas in Hanoi, the peaceful and festive atmosphere for the Catholic community and Hanoi’s townspeople remains undiminished. The streets are filled with joy and festive spirit, creating a vibrant and lively ambiance. Locals gather at St. Joseph’s Cathedral on Nha Chung Street to celebrate Christmas. The photos capture the joyous moments of the celebration. A Christmas of unity… Euphoria is in the air in Thach Bich Parish, Bich Hoa Commune, and Thanh Oai District as the Catholic community celebrates their most sacred holiday. Everyone comes together to decorate homes and light up the streets, especially on Thach Bich Church premises. Thach Bich Parish is a longstanding and prominent Hanoi Archdiocese parish with approximately 8,000 parishioners. It consistently upholds the spirit of ‘living a good life following the faith.’ The parish actively engages in economic development and contributes to social activities, working together to build a prospero
Đọc thêm

Promoting Cuba to the Youth: Efforts of HCM City’s Vietnam – Cuba Friendship Association

Hình ảnh
The Vietnam – Cuba Friendship Association’s chapter in Ho Chi Minh City (VCFA HCMC) will continue to promote people-to-people diplomacy activities to increase understanding between the people of Vietnam and Cuba as well as between HCM City and Cuban localities in particular, contributing to further intensifying the special relations between the two countries. This orientation was approved at the third congress of the association for the 2023-2028 tenure held in HCM City on December 28, VNA reported. Truong Thi Hien, chair of the Vietnam – Cuba Friendship Association in Ho Chi Minh City for the 2023 – 2028 term, spoke at the congress. Photo: HUFO Accordingly, the VCFA HCMC will focus on promoting communication activities, including setting up a YouTube channel named “Cuba – The Beautiful Island”, to introduce the country and people of Cuba to people from all walks of life, especially young people, and the importance of the Vietnam-Cuba relations in the new situation. A
Đọc thêm

Young individuals in traditional attire captivate foreigners’ attention in Hanoi

The event, organized by young enthusiasts of Vietnamese traditional costumes, showcased various traditional garments including nhat binh (square-collared garb), ngu than (a five-paneled aristocratic gown from the 19th and early-20th centuries), and ao dai (Vietnam’s traditional long gown), among others, as well as traditional hats. Foreign tourists were impressed by young people dressed in unique and colorful traditional outfits. Many of them used their smartphones or cameras to capture the essence of the event, which was filled with Vietnamese culture. Nguyen Nga, a member of the organizing board, explained that the aim of the event was to promote Vietnamese traditional costumes to the public. While ao dai is already well-known, many people are not familiar with other types of traditional costumes, which are also valuable parts of the country’s heritage, Nga added. Daniel, a British tourist, expressed his excitement when he came across the event during his stroll in Hanoi. It was t
Đọc thêm