Virtual conference on trade and investment promotion between Can Tho City and Indian businesses

Can Tho City People's Committee together with the Indian Consulate General in Ho Chi Minh City co-organized a virtual conference for trade and investment promotion for Indian enterprises and Can Tho partners. The city leader, Mr. Nguyen Van Hong, Vice Chairman of the City People's Committee, chaired the conference on Can Tho side.

Vietnam and India have a long-standing and traditional friendship, which has been preserved, nurtured and continuously developed by generations of leaders of our two nations. Every year, Can Tho city has coordinated to organize activities to enhance understanding between the peoples of Vietnam and India; consolidate and develop the friendship and solidarity between the people of Vietnam - India in general and the city of Can Tho and the localities of India in particular.

The two countries have also built a comprehensive strategic partnership and India has become one of Vietnam's largest trading partners, while Vietnam is also an important pillar of the India's Look East policy. India is a country with strengths in the development of high-tech agriculture, manufacturing, pharmaceuticals and technology. In recent times, Vietnam in general and Can Tho city in particular have identified India as an important trade and investment cooperation partner. As of September 2021, the total import and export turnover of Can Tho city and India is approximately 8.28 million USD, of which: the export turnover of goods to the Indian market is about 0.8 million USD; including seafood, garments, steel, agricultural products and processed agricultural products,...; the import turnover is approximately 7.48 million USD; including pharmaceutical materials, agricultural drugs, veterinary drugs, fertilizers, chemicals, fabrics and some other items. However, the cooperation relationship as well as the potential and advantages of the two sides have not been fully made use of, as shown in the fact that in Can Tho city up to now, there is no FDI projects with investment capital from India.

In September 2020, Can Tho city was honored to welcome the delegation of Indian diplomatic missions in Vietnam led by Mr. Pranay Verma - Ambassador Extraordinary and Plenipotentiary of the Republic of India to Vietnam and Dr. Madan Mohan Sethi - Consul General of India in Ho Chi Minh City. After the visit, Can Tho city has sent information about the potential, strengths, fields and projects calling for investment of the city to Indian diplomatic missions to support Can Tho to introduce to Indian businesses and investors.

In the coming time, Can Tho city will focus on inviting investors in fields where India is experienced and has investment ability, such as processing industry, information technology, software development, specifically in the projects: the concentrated information technology zone and the grade -2 logistics center in the Mekong Delta. In order to maximize the potential and commercial strengths, Can Tho city wishes to export to India key commodities such as pharmaceuticals, footwear, leather, feathers, iron and steel, wire nails, etc.

Vice Chairman Hong also committed to the business community and Indian investors that Can Tho would create all the most favorable conditions for businesses to develop stably and sustainably; creating an open business investment environment to attract all resources for investment and development, connecting trade, and building Can Tho to become a reliable and attractive destination for Indian investors and businesses.

From Indian side, the Consul General and representative of Federation of Indian Export Promotion Organizations (FIEO) provided their insights in collaboration, especially in trade and investment, with Vietnam and Can Tho City.

In addition, conference attendees also had the opportunity to listen to two companies (one Vietnamese and one Indian) who shared their experiences having trade and investment activities in each other's market. Vietnamese and Indian businesses finally had the business networking session to directly discuss cooperation needs under the coordination of the Consulate General of India in Ho Chi Minh City and Can Tho Investment Promotion Center.