Vietnam Unveils Strategic Investment Opportunities in Nghe An Province, Sets Stage for Closer Economic Ties with India

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Vietnamese Ambassador to India, Nguyen Thanh Hai, on Thursday, championed a call for heightened investments in the burgeoning sectors of tourism and hospitality in Nghe An Province. Taking centre stage at a forum organized by the Indian Chamber of Commerce, Nghe An Province, home to breath-taking beach and forest landscapes, showcased its investment-friendly environment, delineating key focus areas such as pharmaceuticals, semiconductors, automobiles, and innovation. Ambassador Nguyen Thanh Hai commended Nghe An Province for strategically choosing India as its investment destination immediately after high-level visits between the two countries. “We affirm the commitment of the Vietnamese Embassy to collaborate closely and offer continued support to the province in attracting more Indian investors.” Hai said.
C Raj Shekhar, Officer on Special Duty (OSD), States, Ministry of External Affairs, expressed India’s eagerness to strengthen ties with Vietnamese partners, particularly in sectors of strategic importance. Secretary of the Nghe An Provincial Party Committee, Thai Thanh Quy, highlighted Nghe An’s preparedness, citing optimal conditions in planning, infrastructure, land availability, human resources, and administrative support to facilitate a seamless entry for investors.
Subhash Goyal, chairman, national tourism committee on tourism, aviation and hospitality, Indian Chamber of Commerce (AACC), emphasized the forum’s significance as a platform to strengthen cooperation between Indian partners and Vietnam, with a specific focus on Nghe An Province.
“Indians are among the leading investors in the UK today due to two key factors. Firstly, when investing in Vietnam, there is a four-year tax exemption, followed by a 50% rebate for the next nine years if no profit is generated. Additionally, the overall taxation in Vietnam remains at 10% for a decade. The country boasts highly skilled manpower, supportive universities for research, and industrial corridors with available land banks for investment,” said Goyal.

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