Vietnam – India step up cooperation in shipbuilding

2017 is represents a milestone in the relationship of Vietnam and India, celebrating 45 years of diplomatic relationship and ten years of strategic cooperation between the two countries. Thus, this year, both countries hope to witness more bilateral investment and cooperation, especially in the shipbuilding sector, which is said to have yet to reach its full potential in both countries.

On September 25, 2017, the Vietnam Chamber of Commerce and Industry (VCCI) and the Embassy of India coorganised the workshop themed “Vietnam-India Maritime Industry Business Meeting” in Haiphong with the aim of promoting bilateral cooperation between two countries, especially in the shipbuilding industry, thereby enhancing the strategic partnership and spurring the two countries’ economies.

The Vietnam-India Maritime Industry Business Meeting took place in Haiphong

Participants of the workshop included leaders of VCCI, the Haiphong People’s Committee, the Embassy of India, Vietnam People’s Navy and India Navy, as well as many other representatives of shipbuilding enterprises from the two countries.

Sri Kumar, Defense Attaché at the Embassy of India, said, “In last year’s trip of the Indian Prime Minister to Vietnam, the strategic partnership between the two parties saw a comprehensive strengthening. The maritime industry promises to attract numerous investments and cooperation, as India has outstanding potential in innovative technology and techniques in the shipbuilding industry, while Vietnam is currently in the process of modernising and industrialising several sectors, including its navy. Thus, I hope that India and Vietnam can find mutual goals so that we can promote bilateral investment and cooperation.”

Vietnamese and Indian enterprises discussed cooperate opportunities

The workshop also provided leading Indian enterprises in the shipbuilding sector, such as Goa Shipyard Limited, Larsen & Toubro, Mishra Dhatu Nigam Limited or Bharat Electronics Limited, with a chance to introduce themselves as well as their products and services.

Their products consist of a diverse variety of vessels and ships that can meet different demands, and supporting technology in ship repair and maintenance. Meanwhile, Vietnamese shipbuilding enterprises showed interest in potential cooperation with Indian partners, meeting and exchanging experience with Indian counterparts, as well as discuss cooperation opportunities.

Nguyen Van Thanh, Deputy Chairman of the Haiphong People’s Committee, said that as one of the biggest industrial centres in the Northern Vietnam, Haiphong has recorded two Indian-invested projects with a total registered investment sum of $10 million.

He also expressed that he wants to listen to feedback from enterprises from both countries, so that authorities can provide solutions to promoting foreign investment into the city of harbours.