Top leader attends Viet Nam-India Business Forum in Mumbai

The event, jointly organized by the Viet Nam Chamber of Commerce and Industry (VCCI) and the Confederation of Indian Industry (CII), saw the participation of Chief Minister of Maharashtra State Shri Devendra Fadnavis and leaders of Vietnamese and Indian businesses operating in information technology, automobile manufacturing, pharmacy, tourism, agriculture, medical equipment, food processing, aviation, logistics, and electronics.

Addressing the event, To Lam emphasized that the relations between Viet Nam and India are anchored in the deep historicical foundation laid by President Ho Chi Minh and Prime Minister Jawaharlal Nehru.

The two countries are now standing on the threshold of a historic opportunity to upgrade strategic linkages in emerging value chains, said the top Vietnamese leader.

Viet Nam remains steadfast on a development path based on stability, integration, and innovation, and is entering a new stage of development with the goal of becoming a high-income, developed country by 2045, To Lam affirmed.

To achieve this goal, Viet Nam is focusing on three major pillars, including building modern and transparent institutions compatible with international standards; developing synchronous strategic infrastructure, especially digital-energy-logistics infrastructure; and promoting science and technology, innovation, and high-quality human resource training.

Viet Nam is not only an attractive investment destination, but also a trustworthy and long-term partner for international businesses, said To Lam.

He noted that amid the reshaping regional economic architecture, Viet Nam and India are not merely two dynamic developing economies, but also key pillars linking Southeast Asia and South Asia within the Indo-Pacific space. While Viet Nam serves as a gateway to the Association of Southeast Asian Nations (ASEAN) through its extensive network of next-generation free trade agreements, India acts as a central hub in South Asia with an increasingly important role in global supply chains.

Enhanced connectivity between the two economies therefore carries significance not only bilaterally but also in opening access to broader markets and emerging value chains, he said.

Economic relations between Viet Nam and India have achieved encouraging results in recent years, the leader observed. Practical cooperation has shown positive signs, with several Vietnamese firms expanding investment in India in sectors such as electric vehicles, charging infrastructure and technology services. Meanwhile, Indian companies operating in Viet Nam have increased their presence in manufacturing, energy and processing industries. Although still modest in scale, these developments signal a shift from transactional ties towards deeper engagement, from trade towards investment and joint development.

He called on the business communities of both countries to focus on breakthrough areas of cooperation, including expanding trade in a more balanced and sustainable manner, making better use of the complementary strengths of the two economies, and boosting investment in future-oriented sectors such as information technology, AI, semiconductors, pharmaceuticals, biotechnology, clean energy, logistics, data centres and research and development.

To Lam also called on both countries to strengthen connectivity in infrastructure, logistics, aviation and tourism to facilitate the smoother flow of goods, capital and human resources, while promoting cooperation in high-quality workforce training and knowledge transfer.

He pledged that Viet Nam remains committed to safeguarding the legitimate rights and interests of investors, strengthening dialogue and fostering a transparent and competitive business environment. The country aspires not only to be a destination for investment, but also a place where businesses can grow sustainably over the long term.

The General Secretary and President expressed hope that Vietnamese and Indian enterprises would become more proactive and ambitious in investment, partnerships, technology sharing and market expansion, transforming meetings and exchanges into concrete agreements, contracts and projects../.