Asia-northeast India investment conference begins in Vietnam

February 12th, 2009 - 7:33 pm ICT by IANS  

Agartala, Feb 12 (IANS) Business and government delegates from India’s northeastern region Thursday began a three-day meeting in Vietnam’s Ho Chi Minh (HCM) City to discus increasing trade.
The Asia-Northeast India Trade and Investment Summit is being jointly organised by the Indian Chamber of Commerce (ICC) and the ministry of development of the northeastern region (DoNER) in association with the Indian diplomatic mission in HCM City, Vietnam Chamber of Commerce and Industry and the Indian Business Chamber in Vietnam.

“It (summit) is the first ever initiative from India to unfold the vast resources of the northeastern region in Vietnam,” ICC assistant director Arijit Sarmah told IANS on phone from Guwahati.

“While India’s ‘Look East’ policy will form the basis of the summit, it would focus on the rich natural resources of the eight northeastern states of India and their investment opportunities in sectors like hydro-power, food and agro-processing, infrastructure, oil and natural gas and the region’s unlimited tourism potential,” he said.

Sarmah added that a large number of “prospective investors from India have expressed their desire to participate in one-to-one discussions with Vietnamese businessmen”.

Cambodian Minister of Industry Nam Viyaketh delivered the inaugural address of the summit Thursday evening at the White Palace Convention Centre in HCM city, an ICC release said. Several ministers and top officials from the northeastern states would address the gathering.

A Special Session on ‘Lao-Cambodia-Vietnam Development Triangle (LCV-DT) and northeast India’ will be chaired by Northeast Secretary Jarnail Singh.

“The 140-member ICC delegation that takes part in the summit includes a number of ministers and government officials from the northeastern states of India. Over 150 Vietnamese companies are also expected to participate in the three-day summit,” the release said.

An exhibition, showcasing the exquisite handloom and handicraft products of the northeast and cultural programmes are also part of the summit.

“India and Vietnam share a wide area of convergence of strategic interests that can provide the basis of building and reinforcing economic cooperation between the two countries,” Sarmah said.

“In recent years several Indian companies have undertaken substantial investments in Vietnam. The trade between the two countries has increased ten-fold over the past decade, to reach about $1 billion,” he added.

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