President hopes to attract more Indian investments in Vietnam
During the reception for Executive Director of India’s TATA Group Indronil Sengupta in Hanoi on January 12, President Tran Dai Quang expressed his confidence that the group’s Long Phu thermo-power II in Soc Trang, once operational, would open the door for more Indian projects to come to Vietnam.
President Tran Dai Quang met with Executive Director of India’s TATA Group in Vietnam Indronil Sengupta in Hanoi on January 12.
At the meeting, the State President hailed Indronil Sengupta's specific contributions in bringing the TATA Group into the Indian largest investors in Vietnam;
President Quang congratulated the India giant on its success in various fields in Vietnam and stated that Vietnam always considers foreign companies, including those from India, as a main part of the economy.
He also affirmed that the Vietnamese Government is working to improve its legal framework on business in line with international standards to facilitate foreign investors in the country.
The President welcomed TATA’s expansion in Vietnam and expressed his confidence that the group’s Long Phu thermo-power II in Soc Trang, once put into operational, would open the door for more Indian projects to come to Vietnam.
The Vietnamese Government will create the best conditions for the Long Phu plant to be put into operation as scheduled, he noted, adding that power development is one of the priorities of Vietnam, especially hydropower and solar power .
President Quang highlighted that Vietnam and India established comprehensive strategic partnership in September 2016 and will mark the 45th anniversary of bilateral relations in 2017.
The President suggested the group take advantages of these opportunities to become one of the top investors in Vietnam, particularly in electricity production, mechanics and infrastructure development, helping the two countries soon reach a two-way-trade value of 15 billion USD as previously set.
For his part, informing the Vietnamese leader about TATA's investment and business in Vietnam, Executive Director Indronil Sengupta said the group targets to invest in solar- and wind-power projects, a coffee processing plant in Binh Duong, as well as the installation of agricultural machinery to serve demand in the Mekong Delta in the coming time.
A project to import and assembly TATA light trucks is also part of the plan, he added.
Indronil Sengupta also said that TATA has already planned to invest in various sectors in Vietnam in the future.
President Tran Dai Quang (R) receives Executive Director of India’s TATA Group in Vietnam Indronil Sengupta.
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President Quang congratulated the India giant on its success in various fields in Vietnam and stated that Vietnam always considers foreign companies, including those from India, as a main part of the economy.
He also affirmed that the Vietnamese Government is working to improve its legal framework on business in line with international standards to facilitate foreign investors in the country.
The President welcomed TATA’s expansion in Vietnam and expressed his confidence that the group’s Long Phu thermo-power II in Soc Trang, once put into operational, would open the door for more Indian projects to come to Vietnam.
The Vietnamese Government will create the best conditions for the Long Phu plant to be put into operation as scheduled, he noted, adding that power development is one of the priorities of Vietnam, especially hydropower and solar power .
President Quang highlighted that Vietnam and India established comprehensive strategic partnership in September 2016 and will mark the 45th anniversary of bilateral relations in 2017.
The President suggested the group take advantages of these opportunities to become one of the top investors in Vietnam, particularly in electricity production, mechanics and infrastructure development, helping the two countries soon reach a two-way-trade value of 15 billion USD as previously set.
For his part, informing the Vietnamese leader about TATA's investment and business in Vietnam, Executive Director Indronil Sengupta said the group targets to invest in solar- and wind-power projects, a coffee processing plant in Binh Duong, as well as the installation of agricultural machinery to serve demand in the Mekong Delta in the coming time.
A project to import and assembly TATA light trucks is also part of the plan, he added.
Indronil Sengupta also said that TATA has already planned to invest in various sectors in Vietnam in the future.
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