AsemconnectVietnam -  Standing Vice Chairman of Ho Chi Minh City People’s Committee Le Thanh Liem on December 19 hosted an Indian business delegation led by Executive Director of Tata Sons in Vietnam Indronil Sengupta.

Liem appreciated the initiative on organising a Vietnam-India trade forum on the occasion of the Indian business delegation’s working visit to Vietnam. 

He noted that there are currently over 60 investment projects of India worth 60-70 million USD in Ho Chi Minh City, and pledged to facilitate India’s investment in the city. 

The official said the areas of interest for Indian firms such as IT, hi-tech production, pharmaceuticals, chemicals and processing are in line with HCM City’s development orientation. He suggested the firms study the city’s lists of projects inviting investment for suitable opportunities. 

Indronil Sengupta said business members of the India Industrial Federation are looking for opportunities in biological technology, pharmaceuticals and energy, and possibly also in HCM City’s smart city plan.

According to him, Tata Sons is considering joining the automobile and coffee industry in Vietnam and the development of solar energy in some southern provinces in the country.

Indian Consul General in HCM City Srikar Reddy said India has 164 investment projects in Vietnam, with 61 in HCM City, with total investment capital of 755 million USD.

Source: VNA