Bengal Has Good Prospects for Business by India’s Look East Business Policy: Ton Sinh

TNI News Network

Webdesk, TNI Kolkata 5^th April, 2018: MCCI Kolkata organized an Interactive Session with H.E. Ton Sinh Thanh, Ambassador of Vietnam to India on the theme “Bilateral Trade between India and Vietnam: Prospects & Way Ahead” today at the Conference Hall of MCCI. Mr. Sadhan Pande, Hon’ble Minister of Consumer Affairs, Self Help Group & Self Employment, Government of West Bengal was also present and spoke on the occasion. In this occasion, Mr. Sadhan Pande commented that India had always supported Vietnam in its struggle for independence. Trade between the two countries is growing and faster growth is possible. Indians can conduct business with Vietnam which is now being done by Americans but at a lower cost. Mr. Ton Sinh Thanh stated India is promoting a Look East policy and developing closer business ties with South East Asia. India and in particular West Bengal have good traditional ties with Vietnam. Vietnam has a GDP of about USD 240 billion and a population of 98 million. Its two-way trade stands at USD 425 billion and its exports are robust at over 100 p.c. of GDP. Vietnam is a favorite destination for FDI and cumulative investment stands at USD 323 billion with 25,000 projects. Last year, Vietnam attracted foreign investment of USD 33 billion. In fact, Vietnam is the best destination for foreign investment in South East Asia. 13 million tourists visited Vietnam last year and the country has plans to ramp up this figure to 50 or 60 million each year. Earlier Mr. Ramesh Agarwal, Vice President, MCCI in his welcome address spoke about the special bond between the two countries.

Photo: MCCI