At the Vietnam-India Business Forum, held between February 23 and 27 by Vietnam Chamber of Commerce and Industry (VCCI) in conjunction with the Confederation of Indian Industry (CII) within the frame of Vietnamese Days Programme in India, Indronil Sengupta, Tata Steel Group's project general director in Southeastern Asia said that Indian companies are eyeing Vietnam's big projects in energy, infrastructure, and expressway.
"We want to enter more deeply into Asian market via joining big projects in Vietnam. Also, many enterprises want to enhance goods import from Vietnam because the country is emerging as the world's big exporter," he expected.
Although no particular project was signed at the forum, but a lot of plans were discussed. Replying to Dau Tu newspaper, Virendra Seth director of Shriram Institute for Industrial Research (New Delhi) said that the institute is interested in food hygiene technology projects in Vietnam. They organised some training courses on this in Hanoi and HCM City already. "We want to share the technology with Vietnamese firms", he said.
Meanwhile, Nguyen Huu Quang, general director of Hoang Mai Cement JSC said his firm and Indian partners are discussing cooperation in export of cement and materials to reach the highest economic efficiency for both sides. His firm can export cement to India in future.
But Indian companies are usually fairly cautious in making business and investment decisions. Factually, some software export projects were started but have not come into satisfactory results.
The fact is that India government's Look East Policy was kicked off with particular projects. The bilateral trade and business between India and Vietnam will be higher $5 billion thanks to India-Asean free trade agreement, Service and Investment Agreement will take effect in next years.
"In 2010, Vietnam will chair Asean. I believe that Vietnamese government will continue creating the favourable investment environment for foreign investors. Vietnam-India bilateral cooperation now expands to the fields of mining, agriculture, education, health, tourism, information technology and nano technology", Preneet Kaur, India's minister of State for External Affairs said in a statement.
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