Vietnam keen on increased cooperation with India

Vietnam keen on increased cooperation with India

Vietnam keen on increased cooperation with India

Thiruvanathapuram, Sept 09: Vietnam on Friday said it was keen on stepping up multi-pronged cooperation with India in the area of industries and commerce. Speaking at a workshop on 'Opportunities for doing business with Vietnam' here, Ton Sinh Thanh, Minister Councillor at the Vietnamese Embassy in India, said that Kerala-based companies should do business in Vietnam and set up joint ventures in areas like tourism, IT, food processing, plantation and furniture. Vietnam, where 94 per cent of the population is literate and skilled, was eager to work toward competing effectively in the Asia-Pacific region, he said. "The economic relations between India and Vietnam have been expanding over the years, both quantitatively and qualitatively. Bilateral trade has increased from 50 million dollars in 1991 to 817 million dollars in 2005-06," he pointed out. Thanh said that Vietnam had become one of the biggest FDI recipients from India, with over 50 million dollars of disbursed capital. He said that his first visit to the state of Kerala was an affirmation of good bilateral relations between the two countries, which would provide a new momentum to traditional ties and cooperation to grow further. "Kerala can play an important role in promoting multi-pronged cooperation between India and Vietnam," he said. Vietnam had political and social stability and a fast-growing economy and was recognised by foreign investors as one of the safest areas in the Asia-Pacific region. State Industries Minister Elamaram Kareem, who inaugurated the workshop, said that the Kerala government was keen on rapid industrialisation of the state and a new policy to achieve this would be announced soon. Bureau Report