MPI Deputy Minister Tran Duy Dong receives chairman of PDA Trade Fairs

Deputy Minister of Planning and Investment Tran Duy Dong met with Pradeep Deviah, chairman of CEO of PDA Trade Fairs

Deputy Minister Dong said that the negative impact of the pandemic, climate change, and global economic issues have affected the economic development of Vietnam. However, the country has provided numerous policies to overcome difficulties and basically recovered after the pandemic.

GDP in the first half of 2022 increased by 6.42 per cent; total import and export turnover reached $371.17 billion, up 16.4 per cent on year; foreign investment (FDI) disbursement raised by about 9 per cent; Vietnam managed to control inflation and stabilise the macroeconomy despite the strong impacts on world prices of natural materials and raw materials. They are a premise for the stronger development in 2023.

Dong emphasised that the scale of India's investment in Vietnam does not reflect the potential of cooperation between the two countries, including investment and export-import.

"There is still a lot of potential and room to promote cooperation between the two countries in the coming time," said the deputy minister.

Pradeep Deviah said that PDA is cooperating with Vietnam's Association of Foreign Invested Enterprises and Vietnam Advertisement and Fair Exhibition JSC to organise an international conference and exhibition on FDI in the first quarter of 2023 in Vietnam.

"The conference and exhibition aim to promote Vietnam as an investment destination and promote partnerships, share experiences, establish joint ventures, and attract FDI. Through the conference, Indian and foreign businesses will see the investment policies and environment of Vietnam, and more investors will be interested in funding projects here," he said.

Deputy Minister Dong highly appreciated the plan to organise the conference and exhibition.

"The time is very appropriate because 2023 is the 50^th anniversary of diplomatic relations between Vietnam and India and 35 years of mobilising FDI into Vietnam," said Dong.

He also said that Vietnam has changed to prioritising large enterprises and corporations with high technology, corporate governance capacity, and technology transfer.