Viet Nam encourages cooperation in the form of build-operate-transfer (BOT) and public-private partnership (PPP)
3 November 2016
VGP – Deputy Prime Minister Vuong Dinh Hue called on Indian businesses to invest more in Viet Nam, a signatory to ten free trade agreements with key regions around the world.
At a reception for a delegation of the Confederation of Indian Industry led by its President Naushad Forbes in Ha Noi on November 2, the Deputy Prime Minister affirmed that the Vietnamese government pledged favorable conditions for both foreign and domestic investors towards realizing the goal of developing one million enterprises by 2020.
He suggested Indian companies promote cooperation and investment in projects under Viet Nam’s power development master plan no. 7, particularly the Long Khanh thermal power plant, and participate in Viet Nam’s value chain in the fields of garment, textile and footwear as the Trans-Pacific Partnership (TPP) takes effect in the near future.
Viet Nam also encourages cooperation in the form of build-operate-transfer (BOT) and public-private partnership (PPP), as well as the transfer of technologies and energy-saving machinery in automobile manufacturing and the construction industry, Hue added.
For his part, Naushad Forbes said that his working visit to Viet Nam aimed to concretize the contents of the meeting between Indian PM Narendra Modi and Vietnamese counterpart Nguyen Xuan Phuc in Ha Noi last September, manifesting strategic partnership connotations between the two countries as well as India’s Look East policy.
Through business forums held in each country, enterprises of both sides are seeking investment opportunities in the areas of renewable energy, information technology, and adaptation to climate change, and others, Forbes noted.
Representatives of Indian businesses expressed their belief in the growing political, economic and trade relations between the two nations, pledging their utmost efforts to accelerate long-term cooperation between the two countries’ business communities in the time ahead.
They also asked the Vietnamese government to support and remove difficulties for the bilateral cooperation projects in the fields of hydropower, automobile manufacturing and assembling, pharmaceuticals and transport infrastructure.
Source: Viet Nam Government Portal
Illustration Photo: Tan Son Nhat International Airport, Saigon, Vietnam (Credit: David McKelvey/Flickr CC BY 2.0)
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