NEW DELHI — National Assembly Chairman Vương Đình Huệ highlighted the great potential of bilateral economic, trade and investment ties while addressing the Việt Nam – India Business Forum in New Delhi on December 17.
In his opinion, the two countries need to look towards green and circular economies. Indian firms could invest in infrastructure, processing industry, farm produce, science-technology and education-training.
Former Minister of Commerce and Industry Senator Suresh Prabhu and Director General of the Confederation of Indian Industry Chandrajit Banerjee stressed that the Indian Government is carrying out the Act East policy and Việt Nam is one of the important partners of India in Southeast Asia.
Prabhu hailed Việt Nam as an example of innovation in the world. President Hồ Chí Minh’s thought and Việt Nam’s policies and mechanisms always place people in the centre of development goals and orientations.
With similarities, the two countries could cooperate for high growth and improved people’s lives, he said.
On the occasion, Huệ witnessed the exchange of 12 bilateral cooperation agreements in workforce training in information technology, oil and gas processing, and energy.
Meeting Essar Group chairman
NA Chairman Huệ received Chairman of the Essar Group Prashant Ruia following the Việt Nam – India Business Forum.
Introducing the Essar Group, billionaire Ruia said the firm is a multi-sector conglomerate with the market value of about US$15 billion and annual profit of some $2.2 billion. It operates in the fields of oil and gas, including oil exploitation, petrochemical technology, and gas liquefaction; mining, metallurgy; and infrastructure development; among others.
Essar wishes to invest in Việt Nam, especially in the oil and gas industry, he stressed, adding that it has taken part in the exploration and discovery of natural-gas condensate in the country’s continental shelf since 2008.
Chairman Huệ affirmed that Việt Nam supports and will create conditions for Indian companies to continue their long-term presence and expand operations related to oil and gas exploration and exploitation in its continental shelf and exclusive economic zone.
Calling on Essar to increase investment in Việt Nam, he spoke highly of the diversity in the group’s operations and welcomed its intention to invest in the petrochemical industry. — VNS