Vietnam: A great opportunity in the post-pandemic period

On 7 August 2020, Vietnam Embassy in India coordinated with Tam Viet Investment Advisory and UpGen company to organize webinar “The Vietnamese Government’s key economic policies responding to the pandemic and potential industries for long-term investors”. The webinar was attended by representatives of the ministries, branches of Vietnam and nearly 100 economists, businesses and investors from Vietnam and India.

In his opening remarks at the webinar, Ambassador Pham Sanh Chau emphasized that Vietnam is a bright spot in the midst of the Covid-19 pandemic, basically ensuring the “dual-task” of both pandemic prevention and economic development. Vietnam has the potential to become one of the fastest growing economies of the post-Covid-19 as pandemic control, dynamic economy and closely links to important markets.

The Ambassador also emphasized that Vietnam and India have favorable positions in the fast growing Indo-Pacific region with great potential. With the changes in the supply chain and the demand for economic recovery, Vietnam and India need to be ready to catch up with the new economic trend. The Vietnam Embassy in India has been a bridge to support businesses and investors in connecting and solving difficulties and will be more active to prepare best for the post-Covid-19.

Dr. Vo Tri Thanh, Director of the Institute for Branding and Competition Strategy, commented that the economic measures in this period aimed to support businesses and products while ensuring macroeconomic stability, combined with close market monitoring, receive timely feedback from the business community and be ready in any case and issue and implement policies towards economic recovery. Dr. Vo Tri Thanh stated that “in danger lies opportunity”, there is a need to constantly renew thinking, redesign and rebuild economic measures in a changing world.

Representatives of the Ministry of Information and Communications and the Ministry of Industry and Trade also informed and explained Vietnam’s policies on information technology, communications and energy. These are also the main ones that many Indian businesses and investors are interested in.

On the Indian side, representatives of large enterprises such as HCL, Essar… raised some questions about the process and preferential policies for foreign investment projects. Mr. Sanjay Gupta, Vice Chairman of HCL Information Technology Group, said that HCL Group will officially have an office in Hanoi from October 2020. With the goal of training high-tech human resources in the information technology industry, HCL wants to turn Vietnam into the largest center of HCL in Southeast Asia. Many investment consultants and representatives of large Vietnamese enterprises also shared more positive signs in the business environment and prospects in Vietnam.

The Vietnamese Embassy in India will continue to organize a series of webinar to provide information, connect businesses and prepare for economic cooperation when the Covid-19 translation is pushed back./.