Central Highlands enterprises wish to connect trade with India

A chance to cooperate with the fifth-largest economy in the world

On August 31, the Consulate General of India in Ho Chi Minh City coordinated with Lam Dong People's Committee to organize the Lam Dong - India Business and Investment Cooperation Conference.

This conference aims to concretize policies which promote bilateral relations in trade, economy and investment between India and Central Highlands provinces including Lam Dong. It also creates more opportunities for enterprises to export agro-products with local strengths to the Indian market, and opens up cooperation in investment, production, trade connection, market expansion and tourism development between Central Highlands enterprises and Indian enterprises.

“Regarding trade cooperation, many key products of Lam Dong province have been exported to India. This includes green coffee with an export value of over USD 2.5 million; raw silk, silk, and silk fabric over USD 38 million; aluminum oxide USD 32 million. The mentioned export figures may continue to increase in 2023,” said Pham S, Vice Chairman of Lam Dong People's Committee.

According to Madan Mohan Sethi, Consul General of India in Ho Chi Minh City, India is currently the fifth largest economy in the world and has great strengths in many fields such as agriculture, automobiles, pharmaceuticals, biotechnology, textiles, and information technology.

“India is on the path of exponential growth and development. Every day in India is a story of achievement. We have big plans to build highways, airports, ports and modernize industries using AI”. At the conference, Consul General Madan Mohan Sethi expressed his wish to have agricultural companies from Lam Dong province come to India so that they could explore the investment environment and conduct business with Indian partners.

Promote high-tech agricultural cooperation with India

Lam Dong currently has nearly 12,000 businesses with potential industries such as high-tech agriculture, industry, construction, tourism and trade. Businesses in the province are looking for ways to cooperate with India to import or deploy machinery lines in the coffee business.

They also express a need to work with Indian businesses in exporting green coffee and filter bags, helping Indian cafes and restaurants have enough ingredients to serve delicious cups of coffee to their large amount of customers.

“We would like to propose commercial cooperation by organizing trade exhibitions and business connection seminars in seek of trade opportunities, along with that is the exchange of experts and training to share professional knowledge and skills. We can develop joint projects in fields such as agriculture, tourism, or information technology to fully utilize the potential of both communities,” Nguyen Thi Thu Hien, Vice Chairwoman of Lam Dong Business Association said.

Within the framework of the Lam Dong - India Business and Investment Cooperation Conference, leaders and representatives of Central Highlands provinces also outlined local economic advantages and potentials in terms of promoting economic cooperation and trade with India.

Ton Thi Ngoc Hanh, Vice Chairwoman of Dak Nong People's Committee, said that in recent years Dak Nong has cooperated with India in the field of exporting aluminum products and importing raw cashew products.

Although there is no Indian FDI investment project in Dak Nong yet, the province has many outstanding traits, including large bauxite reserves, abundant agricultural inputs, many pristine and interesting tourist attractions, along a rich traditional culture. These are promising fields for business investment.

Vice Chairwoman Ton Thi Ngoc Hanh hoped to invite corporations and investors from India to Dak Nong to survey and invest in high-tech agriculture, clean agriculture, tissue grafting technology, high quality plant seed production and agricultural processing. “Dak Nong is a province with extremely difficult socio-economic conditions, so when businesses come to invest, they will enjoy preferential policies with the highest framework according to Central and local regulations”.