These forums are expected to create new momentum for promoting trade, investment, tourism and business connectivity between Vietnam and the two promising South Asian partners.

Business Forum Magazine had a conversation with VCCI President Hồ Sỹ Hùng regarding the key outcomes of the visit, as well as new cooperation opportunities between Vietnam, India and Sri Lanka in trade, investment and business connectivity.

How do you assess the significance of accompanying the General Secretary and President on this State visit to India and Sri Lanka for economic, trade and investment relations between Vietnam and these two countries?

The State visit by General Secretary and President Tô Lâm to India and Sri Lanka was of particularly important and historic significance. It came at a meaningful time as Vietnam and India celebrate the 10th anniversary of their Comprehensive Strategic Partnership, while for Sri Lanka, this marked the highest-level visit by a Vietnamese leader since the establishment of diplomatic relations between the two countries.

General Secretary and President Tô Lâm, Chief Minister of Maharashtra Devendra Fadnavis, VCCI President Hồ Sỹ Hùng and CII President R Mukundan witness the exchange of cooperation agreements between the two countries. Photo: VNA

This carries great significance not only politically and diplomatically, but also in opening substantial opportunities for economic cooperation between Vietnam, India and Sri Lanka. A major highlight of the visit was Vietnam upgrading its relations with both countries: an “Enhanced Comprehensive Strategic Partnership” with India and a “Comprehensive Partnership” with Sri Lanka.

Notably, the delegation included a large number of businesses from diverse sectors, along with direct business networking activities, demonstrating a strong commitment to promoting substantive cooperation among the business communities.

Amid ongoing global economic uncertainties, strengthening ties with partners in South Asia will help diversify markets and supply chains while creating new growth drivers for Vietnamese businesses.

Businesses in India and Sri Lanka highly appreciate Vietnam’s market potential, favorable business environment, diverse investment opportunities, and its increasingly important role in regional supply chains.

During the visit, VCCI co-organized the Vietnam – India Business Forum and the Vietnam – Sri Lanka Trade, Investment and Tourism Cooperation Forum. Could you share the key outcomes and the level of interest from the business communities at these events?

Both forums attracted a large number of businesses, business associations and trade promotion agencies, reflecting strong interest from Indian and Sri Lankan enterprises in cooperation opportunities with Vietnam.

The Vietnam – India Business Forum welcomed more than 400 delegates representing government agencies, ministries and business communities from both countries. Businesses showed particular interest in sectors such as digital technology, pharmaceuticals, renewable energy, manufacturing, logistics and high-tech agriculture.

By the time the Forum took place, 27 cooperation agreements had already been signed between businesses from the two countries, covering trade and investment promotion, cultural industries linked with tourism, tourism, aviation and aviation infrastructure, maritime logistics, digital transformation, high technology associated with training, agriculture and financial services.

Meanwhile, at the Vietnam – Sri Lanka Trade, Investment and Tourism Cooperation Forum, attended by nearly 300 enterprises, discussions focused actively on trade, tourism, agriculture, fisheries, logistics, seaports and SME connectivity.

Seven agreements were signed directly at the Forum in sectors including tourism, agricultural processing, rubber, fertilizers and chemicals. A notable highlight was the announcement of plans to launch direct flights connecting Ho Chi Minh City and Colombo, to be operated by Vietnam Airlines and Vietjet Air.

Through these forums, many businesses had opportunities to meet directly, discuss cooperation needs and identify potential partners. Vietnamese businesses are still remaining in India to continue implementing signed projects. This forms a very important foundation for promoting concrete cooperation agreements in the near future.

General Secretary and President Tô Lâm, Prime Minister Harini Amarasuriya, VCCI President Hồ Sỹ Hùng and leaders of the Sri Lanka Export Development Board witness the exchange of cooperation documents between the two countries. Photo: VNA

In your opinion, which areas still offer significant room for cooperation between Vietnamese businesses and their Indian and Sri Lankan counterparts amid the ongoing restructuring of global supply chains?

I believe there remains substantial potential for cooperation between Vietnam and both India and Sri Lanka in the coming years.

With India, the two sides can further strengthen cooperation in areas such as information technology, digital transformation, semiconductors, pharmaceuticals, green energy, tourism, supporting industries and high-quality human resource training.

India has outstanding strengths in technology, innovation and a large consumer market with rapidly growing demand, while Vietnam offers advantages in manufacturing capacity, a strategic location in Southeast Asia and an extensive network of free trade agreements. These complementary strengths provide a highly favorable foundation for businesses from both countries to deepen integration into regional and global value chains.

As for Sri Lanka, the country serves as an important gateway in the Indian Ocean region with strong cooperation potential in logistics, seaports, maritime trade, infrastructure, telecommunications, high-tech agriculture, fisheries, green transformation and tourism, especially spiritual tourism.

Given the strategic geographical positions of both countries, Vietnam and Sri Lanka can strengthen trade connectivity and expand distribution networks in South Asia, thereby further boosting bilateral trade and investment flows.

What orientations or specific activities will VCCI implement to help Vietnamese businesses better seize cooperation, investment and market connectivity opportunities after this visit?

In the coming period, VCCI will continue promoting its role as an important bridge connecting the Vietnamese business community with partners in India and Sri Lanka through various trade promotion, investment connection, market information sharing and business support activities. These efforts aim to foster a more substantive, stable and sustainable cooperation environment among the business communities.

At the same time, VCCI will coordinate closely with business associations, diplomatic agencies and trade promotion organizations to support enterprises in finding suitable partners, addressing obstacles arising during cooperation, and effectively utilizing existing bilateral cooperation mechanisms.

VCCI will also proactively monitor, accompany and support the implementation of agreements signed at the two forums, thereby helping cooperation commitments quickly materialize and deliver practical benefits for businesses.

In addition, VCCI will intensify sector-based networking programs to support Vietnamese enterprises in integrating more deeply into regional and global supply chains, particularly in high-potential sectors such as the digital economy, green economy, innovation and sustainable transformation. This is also an important direction for enhancing the competitiveness of Vietnamese businesses, expanding development opportunities and adapting more effectively to emerging global economic trends.

From your discussions with local businesses, how do you assess Vietnam’s position, image and investment attractiveness in the eyes of the Indian and Sri Lankan business communities today?

Through exchanges with businesses and partners in both countries, it is evident that a new wave of cooperation in trade, investment and business is emerging among the business communities.

Many enterprises view Vietnam as a dynamic economy with sustained growth, a continuously improving business and investment environment, and a strategically important position in the Asia-Pacific region.

Indian and Sri Lankan businesses also expressed their desire to expand long-term cooperation and investment in Vietnam, particularly in sectors such as manufacturing, technology, energy, logistics and services.

This demonstrates that Vietnam’s reputation, position and attractiveness on the international stage continue to strengthen, while also opening up significant new opportunities for Vietnamese businesses to deepen connections with South Asian partners.

However, alongside these opportunities, Vietnamese enterprises also need to become more proactive in expanding internationally, broadening business and investment space, and participating more deeply in regional and global value chains.

This will also serve as an important driving force for the Vietnamese business community to contribute meaningfully to the country’s double-digit economic growth targets in the coming years.

Thank you very much!

Businesses in India and Sri Lanka are seeking to expand long-term cooperation and investment in Vietnam, particularly in sectors such as manufacturing, technology, energy, logistics and services.