VCCI Executive Vice President Nguyen Quang Vinh welcomes the Indian delegation led by Mr. Buggana Rajendranath, Minister for Finance, Planning, Commercial Taxes, Skill Development & Training and Legislative Affairs in the government of Andhra Pradesh

Mr. Buggana Rajendranath said that Andhra Pradesh, with a population of over 60 million, is a major contributor to India’s GDP and has strengths in fisheries, animal feed and raw materials for the textile and garment industry. The state has many industrial parks, seaports and fishing centers and offers a vast land bank for investors.

“The purpose of our visit to Vietnam is to learn and exchange views on several business areas, including human resource training, textile and garment, seafood processing, automobile parts and pharmaceutical,” he added.

He suggested that both sides enhance activities to provide opportunities for cooperation for their companies. He also emphasized that Andhra Pradesh is willing to cooperate with VCCI to train and improve skills for the workforce in Vietnam. “I think that we can cooperate in training courses, including both short-term and long-term courses to support businesses,” Mr. Buggana Rajendranath proposed.

Executive VCCI Vice President Nguyen Quang Vinh said that Vietnam and India have maintained and increasingly developed their relationship since they established diplomatic relations over 50 years ago. He said that both countries have much potential for investment cooperation in the future. He agreed to enhance information exchange for mutual understanding on policies and investment environment, and to cooperate closely in supporting businesses of both sides in investment and trade promotion, human resource training. He also said that VCCI would facilitate the development cooperation between Andhra Pradesh and Vietnamese localities.

Vietnam and India upgraded their ties to the Comprehensive Strategic Partnership in 2016. Since then, the two-way trade value has increased 2.5 times (to US$13.2 billion in 2021 and US$15 billion in 2022). Currently, India has 370 projects worth over US$1 billion in Vietnam, ranking 24th out of 143 countries and territories investing in the Southeast Asian nation.