Interviews
Bilateral FTA with India welcomed - PM Nguyen Tan
06 Jul '07
3 min read
He invited Indian investors to come to Vietnam, given that Vietnam becoming a member of the WTO translated into a favourable environment with great opportunities being opened up.
He mentioned how recently adopted laws in Vietnam sought to unify the regulatory framework for domestic and foreign enterprises as also to harmonise rules on trading rights, which had bolstered the investment climate. "This also demonstrates Vietnam's commitment towards transformation into a market based economy," he added.
Earlier, Mr Syamal Gupta, Member, CII National Council & Chairman, Tata International Ltd. who chaired the session pointed out that the Vietnamese P M represented the young, bold, market-friendly face of the nation which was traditionally, one of India's close friends.
Indian companies like Essar had made forays into Vietnam , which were proving to be successful. Although Vietnam was a late entrant to the global economy as compared to most SE Asian countries, Mr Gupta said Vietnam's progress was 'impressive'.
"Vietnam's economy has grown from US$ 45 Billion in 2004 to US$ 60 Billion in the last year. Global integration has accelerated with the annual exports now reaching US$ 40 billion and FDI commitments surging to US $ 10 Billion in 2006 – Vietnam has become Asia 's second fastest growing economy," he pointed out.
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He mentioned how recently adopted laws in Vietnam sought to unify the regulatory framework for domestic and foreign enterprises as also to harmonise rules on trading rights, which had bolstered the investment climate. "This also demonstrates Vietnam's commitment towards transformation into a market based economy," he added.
Earlier, Mr Syamal Gupta, Member, CII National Council & Chairman, Tata International Ltd. who chaired the session pointed out that the Vietnamese P M represented the young, bold, market-friendly face of the nation which was traditionally, one of India's close friends.
Indian companies like Essar had made forays into Vietnam , which were proving to be successful. Although Vietnam was a late entrant to the global economy as compared to most SE Asian countries, Mr Gupta said Vietnam's progress was 'impressive'.
"Vietnam's economy has grown from US$ 45 Billion in 2004 to US$ 60 Billion in the last year. Global integration has accelerated with the annual exports now reaching US$ 40 billion and FDI commitments surging to US $ 10 Billion in 2006 – Vietnam has become Asia 's second fastest growing economy," he pointed out.
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