The diplomat expressed his belief at a teleconference jointly held by India’s PHD Chamber of Commerce and Industry (PHDCCI), the Vietnamese Embassy in India and the Vietnam Trade Promotion Agency under the Vietnamese Ministry of Industry and Trade.
Chau recommended the Vietnamese and Indian governments make strive to adapt to the new situation and challenges.
Businesses also need to be creative in operation, and technocrats more flexible to promote trade and investment flows from both sides, the ambassador suggested.
He called for close cooperation between the two countries to reap more achievements in the economic and trade sectors as they have recorded in the fight against the COVID-19 pandemic.
According to Ajay Poddar, Chairman of the ASEAN, Oceania and East Asia Committee at the PHDCCI, with reciprocal sectors, Vietnam and India can cooperate effectively.
Currently, Indian major firms have invested in energy, mining, sugar production, and IT in Vietnam, he said, stressing that the bilateral trade ties and other economic relations are likely to grow stronger in the time ahead.
Poddar described Vietnam as India’s window towards Southeast Asia, saying many Indian companies want clues or facilities supporting their operation in the region and Vietnam in particular.
He highlighted potential for cooperation in the service sector that makes up nearly 65% of India’s accumulative added value, and suggested the two countries join hands in the production of low-cost goods, health care, AI, agricultural food processing and scientific research.
Participating businesses called for support from Vietnamese and Indian relevant agencies, along with an open market for farm produce, removed trade barriers and simplified administrative procedures.
