Great Partnership Prospects between Vietnam and Gujarat State, India

During his attendance at the 10th Vibrant Gujarat Global Summit from January 9 to January 12, Deputy Prime Minister Tran Luu Quang met Chief Minister of Gujarat state Bhupendra Patel, as reported by VOV.

Deputy PM Quang highlighted the increasing cooperation opportunities between Vietnam and Gujarat, especially since the launch of direct flights between Gujarat and the major Vietnamese cities of Ho Chi Minh City and Hanoi in November 2022. The frequency of flights is now 14 per week. Moreover, several corporations based in Gujarat are planning to invest in the Vietnamese market.

Deputy PM Quang proposed that Chief Minister Patel continue to focus on enhancing the cooperation between the two sides by increasing delegation exchanges, improving the efficiency of economic, trade, and investment ties, expediting negotiations to increase flight frequency, and strengthening collaboration between the two countries’ localities.

Deputy Prime Minister Tran Luu Quang (R) receives Chief Minister of Gujarat state Bhupendra Patel. Photo: VNA

Chief Minister Patel listened attentively to the information shared by Deputy PM Quang about the Vietnamese situation, particularly the mechanisms and policies that offer favorable conditions for foreign investors, including those from India, in areas such as energy, infrastructure, seaport, oil and gas, innovation, green economy, and digital transformation.

He emphasized the huge potential for increased cooperation and investment for Vietnamese businesses in Gujarat, given its strategic location in the Asian-Middle East-European infrastructure connectivity.

Deputy PM Quang took the opportunity to invite Chief Minister Patel to visit Vietnam and explore further collaboration opportunities, to which the latter accepted the invitation.

The 10th Vibrant Gujarat Global Summit, conceptualized in 2003 under the visionary leadership of Shri Narendra Modi, Prime Minister of India (then Chief Minister of Gujarat), is now one of the most prestigious global forums for business networking, knowledge sharing, and strategic partnerships for inclusive growth and sustainable development, according to VNA.

This year’s biennial event attracted Indian leaders and businesspeople, as well as guests from over 100 countries.

In his address at the summit, Quang emphasized the importance of topics such as green economy, circular economy, digital economy, e-commerce, and smart cities, which are also Vietnam’s priorities during its development and international integration. He also provided suggestions to promote the development of these areas and expressed his belief that India, as the fifth largest economy in the world, can lead the process.

Vietnamese Deputy Prime Minister Tran Luu Quang and Czech Prime Minister Petr Fiala. Photo: VNA

Later that day, Quang delivered a speech at the Vietnam-India Business Forum, where he emphasized that the economic cooperation between Vietnam and India has yet to fully match their political ties, as well as their potential and strengths.

He noted that there is still ample room for the two countries to enhance collaboration in emerging areas such as green economy, circular economy, digital transformation, software, semiconductors, and AI.

Deputy PM Quang also had meetings with foreign leaders and businesspeople attending the summit on January 10.

Deputy PM Quang is the first high-ranking Vietnamese leader to attend the event, marking the first high-level exchange between Vietnam and India this year. This presents an opportunity for Deputy PM Quang to engage with leaders of India and Gujarat on measures and strategies to further enhance ties between the two countries and their localities, with the goal of achieving a two-way trade volume of USD 20 billion in the near future.