On the morning of April 15th, Mr. Le Duc Giang, Provincial Party Committee member and Vice Chairman of the Provincial People's Committee, along with representatives from various provincial departments and functional units, held a working meeting with a delegation from the Indian Chamber of Commerce in Hanoi (INCHAM Hanoi), led by Mr. Navendu Kumar, President of the association and Director of Alleviare Life Sciences Ltd.
A general overview of the working session.
Vice Chairman of the Provincial People's Committee Le Duc Giang gave an overview of the socio -economic, cultural, and educational development situation in the province; especially the favorable conditions for international trade such as the Nghi Son Economic Zone, Nghi Son Deepwater Port, and Tho Xuan Airport. Thanh Hoa province is also actively training and improving the quality of its human resources to attract investment capital in many fields, meeting the strategic goals of the province's socio-economic development.
In addition to the central government's general investment attraction policies, Thanh Hoa province has also issued specific support policies and committed to creating all favorable conditions in terms of administrative procedures and legal support to help investors develop production and business effectively.
Vice Chairman of the Provincial People's Committee Le Duc Giang speaks at the working session.
Vice Chairman of the Provincial People's Committee Le Duc Giang affirmed that, based on the good relations between Vietnam and India, the relationship between Thanh Hoa province and its Indian partners has also initially achieved positive results.
In the field of import and export, Thanh Hoa province is increasing exports to the promising Indian market, especially after the ASEAN-India Free Trade Agreement (AIFTA) officially came into effect in 2023. Thanh Hoa's export turnover to India in 2024 reached US$30.13 million, an increase of 21.3% compared to the same period, with main items including garments, footwear, seafood, agricultural products, electrical wires, etc. However, the results of import and export as well as Indian direct investment in Thanh Hoa are currently assessed as not having fully exploited the potential and opportunities between the two sides.
“Thanh Hoa province hopes that Indian businesses will continue to research and invest further in many areas that Thanh Hoa is attracting investment in, such as automation, agriculture, pharmaceuticals, and healthcare... We hope that INCHAM Hanoi will be a bridge to bring the cooperative relationship between India and Vietnam to a new level, creating opportunities for Indian businesses to invest more deeply in Thanh Hoa province,” emphasized Vice Chairman of the Provincial People's Committee Le Duc Giang.
Mr. Navendu Kumar, President of INCHAM Hanoi, speaks at the meeting.
Speaking at the meeting, Mr. Navendu Kumar, Chairman of INCHAM Hanoi, expressed his sincere gratitude and pleasure at the warm welcome from Thanh Hoa province; he also expressed his admiration for the scale, strategic importance, economic growth rate, and historical and cultural traditions of the province.
Mr. Navendu Kumar emphasized that INCHAM Hanoi has many businesses related to textile manufacturing and industry, and hopes to connect with more opportunities for further investment in these sectors.
Furthermore, both sides have significant potential for cooperation in other areas such as high-tech pharmaceuticals, organic food, IT, automation, manufacturing, and tourism. In particular, India's high-tech pharmaceutical sector, exporting to the US and Europe, is exploring opportunities for production expansion. The tourism sector is also opening up new opportunities as the number of tourists between India and Vietnam has grown considerably in recent years. Regarding education, the Association hopes to contribute to connecting and transferring manufacturing technology, medical knowledge, and training of doctors and medical professionals from India to businesses in Thanh Hoa province.
Indian businesses also wish to learn about investment mechanisms and policies, and conduct on-site surveys of industrial park operations to understand investment and business processes, thereby laying the foundation for closer and more effective cooperation. The Association also hopes that Thanh Hoa province and ICHAM Hanoi will soon realize their cooperation by signing a memorandum of understanding, creating favorable conditions for businesses in the Association to access project plans, investment attraction areas, and legal procedures.
Leaders of the Provincial Business Association discussed mechanisms for supporting and connecting with foreign organizations and investors.
After listening to the proposals from INCHAM Hanoi, Vice Chairman of the Provincial People's Committee Le Duc Giang agreed that the two sides would proceed to sign a memorandum of understanding on several issues. Specifically, INCHAM Hanoi and Thanh Hoa province will explore and exchange information in the field of medicine and pharmaceuticals; and encourage Indian businesses to research and invest in Thanh Hoa in six sectors: healthcare, IT, automation, garment manufacturing, hotels and restaurants, and biotechnology.
The comrade instructed the Department of Foreign Affairs, the Provincial People's Committee Office, and the Provincial Business Association to coordinate with INCHAM Hanoi to promote exchange activities, aiming to successfully establish effective investment cooperation relationships in the future.
Thanh Hoa province presented a commemorative gift to the INCHAM Hanoi delegation.
Later that same day, the INCHAM Hanoi delegation conducted a site visit to Hanoi Beer Joint Stock Company and Thanh Hoa Import-Export Joint Stock Company. Following the visit, based on the Association's proposals, the Provincial People's Committee will assign relevant departments to provide specific advice on investment procedures, feasible investment projects, and support Indian investors in carrying out legal procedures.
INCHAM is a non-profit organization established in 1999 with the goal of promoting economic relations between Indian businesses and Vietnamese authorities. The association currently has two branches in Ho Chi Minh City and Hanoi. INCHAM Hanoi has over 141 members operating in sectors such as pharmaceuticals, information technology, textiles, and electronics. |
Minh Hang
Source: https://baothanhhoa.vn/thu-hut-doanh-nghiep-an-do-dau-tu-tren-6-linh-vuc-tai-thanh-hoa-245680.htm
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