14/12/2016 22:29 GMT+7 Email Print Like 0

India to be listed among Vietnam’s Top Ten Investors

Vietnam and India has a fine background in political cooperation and large potential in economics, investment and trade collaboration. Therefore, National Assembly Chairwoman Nguyen Thi Kim Ngan’s official visit to India (from December 8-12, 2016) has a significant meaning in concretising the comprehensive strategic partnership between the two countries, promoting cooperation in many potential fields as oil and gas, energy, science-technology and security-denfence. In the future, with its strength, India will become one of ten biggest investors in Vietnam. 
The two countries have seen a great potential in economic, investment and trade cooperation. India is one of the top 10 trade partners of Vietnam with the two-way trade seeing an annual average growth of 16 percent and surpassing 5 billion dollars in 2015. India expects to become the biggest foreign investor in Vietnam once TATA group launches its Long Phu Thermal Power Plant, worth two billion dollars, in the southern province of Soc Trang.
Both nations are effectively coordinating to exploit oil and gas in Vietnam’s continental shelf while actively working together to explore new oil and gas fields in Vietnam and the third countries.

 Speaker of India’s Lower House Sumitra Mahajan receives National Assembly Chairwoman Nguyen Thi Kim Ngan. Photo: Trong Duc/VNA

 The two leaders hold talks. Photo: Trong Duc/VNA

 The two top legislators sign a cooperation agreement between the two parliaments. Photo: Trong Duc/VNA

 They witness the signing of a cooperation agreement of Vietjet Air (Vietnam) and Indian Air (India). Photo: Trong Duc/VNA

Defence-security cooperation is considered as a strategic pillar in the bilateral relations. Vietnam applauded India’s preferential credit packages for Vietnam, including a recent package of 500 million dollars to help Vietnam improve defence capacity and sharing experience in UN peacekeeping activities.
In international and regional arena, Vietnam always supports the Act East policy of India while India considers Vietnam a key pillar in this policy. Vietnam also supports India’s candidacy for a permanent membership in the UN Security Council when this Council admits more permanent members, and its increasing position and role in regional and international arena.

 National Assembly Chairwoman Nguyen Thi Kim Ngan meets with Indian President Pranab Mukherjee. Photo: Trong Duc/VNA

 The Vietnamese top legislator has a meeting with Indian Prime Minister Narendra Modi. Photo: Trong Duc/VNA

 National Assembly Chairwoman Nguyen Thi Kim Ngan meets with Mohammad Hamid Ansari, Vice President of India.
Photo: Trong Duc/VNA

As a coordinator of ASEAN-India relations in 2015-2018, Vietnam is willing to help India forge connectivity with other Southeast Asian countries. Vietnam also appreciates India’s viewpoint regarding the maintenance of peace, stability, security, safety and freedom of aviation and navigation in the East Sea, as well as respect for diplomatic negotiations and international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS).
During the visit, the two sides signed governmental level agreements in the use of nuclear power for peaceful purpose; a memorandum of understanding between the Vietnam Atomic Energy Institute and India’s Global Centre for Nuclear Energy Partnership and another on opening a Vietnam-India air route between Vietjet Air and Indian Air.