FII SIGNED MOU WITH DAA, VIETNAM TO STRENGTHEN TIES AND BOOST TRADE AND INVESTMENTS

Vietnam and India share traditionally close and cordial relations as they have their historical roots in the common struggle for liberation from foreign rule and the national struggle for independence.
This relationship was recently strengthened to an altogether different level during the first bilateral Prime Ministerial visit to Vietnam since 2001 when Prime Minister Narendra Modi undertook an Official Visit to Vietnam in 2016 at the invitation of his Vietnamese counterpart Mr. Nguyen Xuan Phuc. The most significant outcome of the visit was the elevation of the bilateral relationship to a Comprehensive Strategic Partnership and finally collaborating for a bigger purpose when In December 2020, the prime ministers of both countries, in a virtual summit, set in motion the ‘India-Vietnam Joint Vision for Peace, Prosperity, and People’.

From a business perspective as currently, with global perception post COVID-19 not in favor of China, therefore, Indian businesses are moving closer to Vietnam, a country known for its export-oriented growth in the last three decades. And India’s economic relationship with Vietnam has made great strides over the past few years, and the business cooperation between the two countries is expected to further improve.
In a recent event Vietnam – India Business Forum 2021 was held at Leela Palace, Diplomatic Enclave, Chanakyapuri on 17th Dec 2021. In this event, India and Vietnam have agreed to enhance trade and investment cooperation with the signing of MOU’s in the area of public health, pharmaceutical material, drug and vaccination production, oil and gas, Information technology, education, and tourism, etc.

Federation of Indian Industry (FII), a not-for-profit organization, and an advisory interface between the Government and Industries formed with an objective to provide a structured and comprehensive advice and support interface to Indian Entrepreneurs, Foreign Investors, and Government on the business environment, prevalent laws, operational intricacies, and implementable solutions. FII in their constant endeavor to strengthen this relationship between the two countries and create more opportunities for business leaders in both countries signed an MOU with DAA Vietnam.

Amongst other dignitaries, the Chairman of the Vietnam National Assembly Mr. Vuong Dinh Hue, and Mr. Suresh Prabhu, Member of Parliament were present at the MOU Signing Ceremony.

Federation of Indian Industry (FII), entered into another MOU with Digital Agriculture Association Vietnam through Nguyen Thi Lan Huong (Mrs.) Vice President of DAA Vietnam and Mr. Hitender Mehta, Chairman, International Affairs Committee, FII. The MOU is to jointly cooperate in supporting the agriculture and food processing industry between India and Vietnam.

“We are very optimistic and confident that this meeting will strengthen and augment the exponential growth in bilateral relationship in knowledge sharing, trade, and tourism in the coming days,” said Deepak Jain, Director General – FII.