B2B forum between Vietnam and India held

The “Business Conference & B2B Forum” was co-organized by the Embassy of India in Vietnam and the International Investment Promotion Alliance (Invest Global) in Hanoi on May 12.

The event saw the participation of 25 Indian companies coming to Vietnam to explore potential investment and partnership opportunities, along with numerous Vietnamese businesses and industry associations. 

In his remarks at the forum, Mr. Chinpau Ngaihte, Counsellor of Economic, Commerce & Development Partnership at the Indian Embassy, emphasized that since the establishment of diplomatic relations in 1972, the Vietnam - India relationship has grown steadily and comprehensively across multiple fields, from culture and politics to economics.

Mr. Ngaihte noted that high-level leaders of both countries have agreed to further strengthen collaboration in key potential sectors that drive growth for both sides, such as healthcare, education, innovation, startups, information technology (IT), auto parts manufacturing, mining, and renewable energy.

Two-way trade turnover of the two countries reached $15 billion in 2024. Both sides are striving to raise the figure to $20 billion in the near future.

Looking ahead, Mr. Ngaihte suggested that businesses in both countries should continue to leverage their respective strengths to expand cooperation across key sectors.

“In particular, Vietnam’s official adoption of Power Development Plan VIII will also contribute to numerous opportunities for bilateral cooperation in areas such as renewable energy, sustainable agriculture, water resource management, and disaster-resilient infrastructure development,” he emphasized.

Similarly, Mr. Bui Trong Thoan, Deputy General Director of Invest Global, noted that the sectors where Indian companies are active, such as healthcare, agriculture, and irrigation, are also areas where Vietnamese enterprises are actively seeking international cooperation, particularly with countries that have advanced scientific and technological foundations like India.

Meanwhile, Ms. Rekha Sharma, Founder of the Marketing Assistance and Research Support (MARS) (India), also highly valued the cooperation potential in fields such as information and communications technology (ICT), artificial intelligence (AI), interior design, and mining, etc.

“I believe Vietnam is gradually becoming one of the most attractive investment destinations for Indian enterprises in the Asian region, especially in today’s turbulent global economic landscape,” she noted.

However, Dr. Jitendra Joshi, Founder and Global President of the Global India Business Forum (GIBF), noted that Indian businesses still face certain challenges in investment and business procedures in Vietnam. Additionally, language barriers - particularly the limited use of English in Vietnam, remain an obstacle for Indian companies in their collaboration efforts.

He therefore recommended that Vietnam place greater emphasis on English language training for its younger generation and workforce to enhance international integration and connectivity, and to create a more favorable environment for Indian enterprises to increase their investment in the country.

“Vietnam and India are not only close partners but are also gradually becoming each other’s best business allies,” Dr. Joshi affirmed.

As part of the forum, Invest Global and India’s Marketing and Research Support (MARS) also signed a Memorandum of Understanding (MoU) aimed at promoting trade linkages, expanding investment cooperation opportunities, and supporting enterprises from both countries in effectively tapping into their existing strengths.

This MoU is considered a significant first step toward realizing the shared vision of a more solid and practical business partnership between the two countries.

Additionally,  Vietnamese and Indian enterprises attending the forum also engaged in a B2B networking session to exchange information, explore each other's needs and strengths, and identify concrete opportunities for future cooperation.