Attending the conference were Mr. Modan Mohan Sethi - Consul General of India in Ho Chi Minh City; Mr. Nguyen Van Danh - Vice Chairman of PPC and representatives of enterprises from India and Binh Duong province.
Overview of the conference
Binh Duong continues to be a bright spot in attracting investment
India is one of Vietnam's leading trading partners. In 2022, the two countries' bilateral trade reached 13.2 billion USD for the first time, up 36.5% compared to 2020. The two countries are aiming to reach 15 billion USD in bilateral trade development in the near future.
Speaking at the conference, Mr. Nguyen Van Danh said that over the years, Binh Duong has invested in building a synchronous and modern transport infrastructure. In addition, the rapid development of industry and trade in services has created a strong driving force, promoting Binh Duong to become one of the leading provinces in the country in industrial and urban development. Up to now, Binh Duong has built 29 industrial parks, with a total area of nearly 12,700 hectares. Accumulated to November 30, 2022, the province attracted nearly 40 billion USD in foreign investment, with 4,082 projects from 65 countries; becoming the second locality in the country after Ho Chi Minh City in attracting foreign investment. In which, India ranked 23rd out of 65 countries, with a total investment capital of more than 116 million USD and 10 projects, with major investment fields as medical instruments, processing industry, manufacturing, pasteurization of agricultural products and food, etc.
Mr. Nguyen Van Danh - Vice Chairman of Binh Duong PPC speaks at the conference
In 2022, the total export turnover of Binh Duong's goods reached 35 billion 687 million USD, up 9% compared to 2021; imports reached 25 billion 813 million USD, up 1% compared to 2021. Currently, Binh Duong's products have been exported to more than 90 countries and territories, contributing to affirming Binh Duong's brand and reputation in the world market.
Besides, Binh Duong also actively expands bilateral and multilateral cooperation relations with localities and international organizations. Currently, the province is an official member and a reliable partner of three international organizations: the Intelligent Community Forum (ICF), the Asian Economic Cooperation Forum (Horasis) and the World Trade Centers Association (WTCA). For 4 consecutive years (from 2019 to 2022), Binh Duong was honored by ICF as one of 21 cities and regions with 7 communities with typical development strategies in the world. In particular, for two consecutive years from 2021 to 2022, Binh Duong was honored to be in the Top 7 ICF, becoming one of the 7 communities with typical development strategies in the world.
In the long term, in order to maintain a favorable and sustainable business and investment environment, the Binh Duong government is actively promoting information, propaganda and trade between Binh Duong and the Indian market. The stepping up of promotion, trade connection will improve the efficiency of trade promotion activities, more actively support enterprises, industries, craft villages and products of the province to find partners, promote promote the exchange, purchase and sale of goods and provide services with Indian partners.
Opportunities for trade cooperation
In September 2022, Binh Duong hosted the Horasis India Meeting 2022. This is an opportunity to help Vietnamese and Indian enterprises expand cooperation and investment in many fields. And in order to take more concrete steps in cooperation, this Conference on Promoting Vietnam – India Trade 2022 will create opportunities for Vietnamese enterprises to connect directly with nearly 20 Indian enterprises operating in various fields with nearly 20 Indian enterprises operating in many fields such as agricultural products and food processing, wood, pharmaceuticals, textiles, iron and steel, renewable energy, plastics, packaging, jewelry, etc.
At the conference, the Consul General of India in Ho Chi Minh City Modan Mohan Sethi highly appreciated Binh Duong's outstanding development in recent years, especially the dynamism in administrative reform and enterprise support policies, etc. This helps Binh Duong become one of the TOP foreign investment attraction localities in the country. Typically, there are now many Indian enterprises investing in Binh Duong. Binh Duong is also very dynamic, actively establishing diplomatic, trade and commercial relationships with major cities, corporations, and major states of India, opening up many opportunities for cooperation between Binh Duong and the Indian market. At this conference, he hoped that the two sides could share concerns and find more common opportunities so that the two sides could improve their relationship.
Mr. Modan Mohan Sethi - Consul General of India in Ho Chi Minh City speaks at the conference
Sharing with his Indian partner, Mr. Nguyen Thanh Toan - Director of Binh Duong Department of Industry and Trade said that Binh Duong is currently implementing digital transformation for enterprises and industry 4.0. Therefore, cooperation in information technology is a great need of the province. For the pharmaceutical industry, Vietnam is importing pharmaceuticals from India which is quite large. In Binh Duong, there are quite a few pharmaceutical manufacturing enterprises operating in industrial parks. Therefore, Binh Duong is very eager to cooperate with India in this field to be able to produce and supply to the Vietnamese and Indian markets. Besides, the wood processing industry is a quite well-developed industry in Binh Duong. He wanted India to learn more about the wood market in Vietnam, so that they can cooperate in this field. As for the energy sector, Binh Duong is currently ranked 2nd in the country in terms of solar power generation. However, there is a shortage of battery storage for solar energy. Therefore, this will be a very potential and large market.
Mr. Nguyen Thanh Toan - Director of Binh Duong Department of Industry and Trade shares Binh Duong's investment information at the conference
Besides, Binh Duong enterprises also introduced to the conference about the potentials and strengths of the textile and garment industries; limestone production; tanning; handicraft production, etc. Thereby, many products have attracted the attention of Indian enterprises.
Mr. Tran Kim Ha - Representative of Binh Duong Electromechanical Association introduces about the Association's products
Ms. Pham Thi Xuan Trang - Representative of Binh Duong Textile & Apprel Association introduces about the Association's activities
On the Indian side, Mr. Anil Agarwal - President of the Federation of Telangana Chambers of Commerce and Industry (FTCCI) also introduced to the conference the Federation's role and function, which is to connect enterprises together. However, in order for Binh Duong and enterprises to have a better understanding of the developing fields of the state, he invited provincial leaders and Binh Duong enterprises to visit and work in Telangana state, so that the two sides can may have more cooperation opportunities.
Mr. Anil Agarwal - President of the Federation of Telangana Chambers of Commerce and Industry (FTCCI) speaks at the conference
Currently, the Indian state of Telangana has more than 3,500 enterprises of all different industries. Therefore, the opportunities for bilateral development between the two sides are great, not only developing the export of goods but also contributing to the extensive and comprehensive development of the two sides' capacity.
Mr. Karunendra Jasti - President of Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) speaks at the conference
In order to facilitate business partnerships, seek cooperation in investment and trade promotion, and create regional and global supply chains, at the conference, a signing ceremony was held between 3 units: Binh Duong Center for Investment Promotion, Trade and Industrial Development, FTCCI and WTC Binh Duong.
Signing ceremony between 3 units: Center for Investment Promotion, Trade and Industrial Development, FTCCI and WTC Binh Duong
Some products of Binh Duong are displayed at the conference to introduce to Indian enterprises
Reported by Thao Lam- Translated by Thanh Tam