The India - Viet Nam Investment Forum will be held on Friday (Jan 22) in HCM City. — Photo courtesy of Consulate General of India in HCM City

More than 300 Indian companies and 200 Vietnamese companies are expected to explore opportunities for economic engagement, investment and trade at the India - Viet Nam Investment Forum to be held in HCM City on Friday (January 22).

The webinar, which will cover Energy, Infrastructure, IT & Technology, and Pharmaceuticals sectors, offers an opportunity for businesses from the two countries to acquire useful information about trade and investment relations between the two sides, and find business opportunities.

The event aims to enhance the strategic partnership between India and Viet Nam.

It will feature business-to-business meetings such as networking lunches and business dialogues to enable further exchange of information and co-operation opportunities.

The physical and virtual event is organised by the Consulate General of India in collaboration with the Advisory Council on Administrative Procedures Reform to the Prime Minister, the HCM City Investment and Trade Promotion Centre, and VinaCapital Group.

Trade and investment ties between Viet Nam and India are not commensurate with their potential. It is vital to enhance trade relations to achieve full potential as the two countries are both dynamic and rapidly developing economies in Asia, experts have said.

Trade between the two countries has grown steadily and reached US$12.34 billion in the 2019-20 period.

Viet Nam is emerging as an important pillar for India with its stable political and economic environment, attractive investment policies, competitive labour costs, availability of raw materials, and potential market access due to free trade agreements that Viet Nam has concluded.

Many Indian investors see Viet Nam as a prominent destination for investment, especially in sectors in which India has competitive advantages such as infrastructure, energy, IT & technology, and pharmaceuticals, and others.

Exports from India to Viet Nam include bovine meat, fishery products, corn, steel, pharmaceuticals, cotton, and machinery, while imports from Viet Nam include mobile phones, electrical machinery and equipment, computers, electronic hardware, natural rubber, chemicals, and coffee. — VNS