Vietnamese ambassador to India Ton Sinh Thanh as a part of the ‘Make in Vietnam’ initiative is urging Indian pharmaceutical companies to set up units in that country.
According to reports, Thanh said that pharmaceuticals are one of the major items that Vietnam imports from India. Thus, Indian pharmaceutical companies should set up base there as a part of ‘Make in Vietnam’ initiative.
He also added that services is anoher area where India could help Vietnam.
On services, he said that the services sector India is very developed and Vietnam has a pool of skilled manpower. There is a lot of scope cooperation between India and Vietnam in the field of the services sector. India is a developed service sector.
The Indian government had offered a credit line of US$ 300 million for trade diversification and strengthening of commercial ties between the two countries. The targetted bilateral trade between the two countries was US$ 15 billion by 2020. In 2014, the bilateral trade was US$ 5.6 billion.