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Open Trade
Quarterly
Jan-Mar 2009
 
COVER STORY - Vietnam
 
The bilateral trade between India and Vietnam crossed over US $3 billion in the last financial year and is expected to grow substantially this year as well , said Nguyen Viet Hung, Consul General, Socialist Republic of Vietnam in Mumbai to Open Trade Magazine. He forecasts the Vietnam GDP to grow at the rate of 6% during the current financial year.
The 'doi moi' economic reform agenda championed by the Communist Party of Vietnam since 1986 has brought considerable material gains for the wide majority of the population. No shift is expected in the government's economic reform agenda, which will continue to support economic activity.
Vietnam has been importing mainly chemicals, machinery, equipment, pharmaceuticals, healthcare products etc. while India has been importing
rubber, electronic components, agriculture products etc.
Mr. Hung feels, that there exists a tremendous potential between both countries and trade and commerce can grow manifold. He feels tourism is another major area of growth which is yet to be tapped as there is an absence of direct connectivity by air route; one has to travel via Thailand from India.
The visit of the Prime Minister of Vietnam in July 2007, further cemented the relation between the two countries.
Mr. Hung further added that, he and his team were here to support and facilitate any company wanting to set up an office in Vietnam as Vietnam has a very conducive Foreign Direct Investment (FDI) policy.
H.E. Nguyen Viet Hung likes India and has served in New Delhi and Mumbai for two terms. He is fascinated with the rich cultural heritage that India possesses and says that Indian food is in his blood. He further adds people of Vietnam feel proud to be friends of India.
 

Vietnam's
Ha Long Carnival
Bonanza


In order to attract the tourists to Vietnam, Ha Long Carnival has been scheduled from April 25 to May 2, 2009. It promises to satisfy both domestic and foreign visitors of the various unique cultural and tourist products. The opening and closing ceremonies, two major live shows of the carnival, will comprise special and magnificent art performances on a floating stage at the Bãi Cháy Ferry. The closing ceremony on May 2 will feature a fireworks show.

Both tourists and local residents will have numerous opportunities to join many activities.

In the fanciful and splendid atmosphere of Ha Long Bay by night, the ‘World Cultural Heritage Rendezvous, show will combine domestic and international art performances, presented by artists from Vietnam, Republic of Korea, China, Laos and Thailand.

In addition, national and foreign guests will be introduced with traditional Vietnamese music, including royal music and gong performance of the Central Highlands.

There will be gastronomic festival, sports competitions and business fairs.