Horasis 2022 India Economic Cooperation Forum opens up many cooperation and investment opportunities in Binh Duong

DNHN - The forum is expected to find important solutions of the times, contributing to the development of Binh Duong's economy, which is increasingly dynamic and ready for international integration.

On the morning of September 26, at the Binh Duong Convention and Exhibition Center, the Horasis 2022 India Economic Cooperation Forum opened. Attending were Deputy Prime Minister Vu Duc Dam; Indian Secretary of State for External Affairs Rajkumar Ranjan Singh; Horasis leader; Confederation of Indian Business; ministries and localities.

Horasis is renowned as a worldwide visionary community dedicated to inspiring the future, offering a platform for enterprises ranging from emerging markets to industrialized countries to progress toward organizational globalization.

Following the success of the Horasis Asia Economic Cooperation Forum in 2018 and 2019, Binh Duong province has been chosen to host the Annual Meeting of the Horasis India Economic Cooperation Forum in 2022. In particular, in commemoration of the 50th anniversary of the establishment of diplomatic relations between Vietnam and India (1972-2022), the People's Committee of Binh Duong province, in collaboration with the Horasis Organization, Becamex IDC Corporation, and the Confederation of Indian Industry, will co-host the Horasis 2022 India Economic Cooperation Forum event.

Mr Vo Van Minh, Chairman of the Provincial People's Committee of Binh Duong, stated in his welcoming address that 25 years ago, the province was resolved to innovate and progress toward industrialisation from a strictly agricultural region. 

Currently, Binh Duong is the second city in Vietnam to draw cash from international investors, behind Ho Chi Minh City. "Binh Duong province hopes to find significant solutions of the times through this forum, contributing to the development of a more vibrant and prepared for international integration Binh Duong economy; serving effectively for the process of industrialization and modernization and successfully realizing the goal of developing Binh Duong province into a smart city, thereby bringing a better life to the people," Mr Vo Van Minh emphasizes.

Deputy Prime Minister Vu Duc Dam stressed during his speech at the opening ceremony that he was "very glad" to attend and speak at the Horasis India Economic Cooperation Forum 2022 with the subject "Dynamic Vietnam - New Vision." The Deputy Prime Minister conveyed warm congratulations to the attendees of the event on behalf of the Government of Vietnam.

Deputy Prime Minister Vu Duc Dam emphasized the global economic crisis following the Covid-19 epidemic, saying that the globe is undergoing significant and challenging changes. There have been some doomsday predictions made somewhere, but this is primarily a chance for us to consider novel approaches to problems and develop novel ideals. Enhancing innovation and resilience as well as promoting sustainability are now necessary and unavoidable goals.

Vietnam has made significant historical advancements after over 40 years of reconstruction. From $4 billion in 2004 to around $400 billion this year, the GDP has grown 100 times. Putting people first means paying extra attention to the task of creating people, who are the topic of the development process. With 15 free trade agreements with over 60 partners, Vietnam continues to be a prime location for international investors as the hub of several dynamic economic linking networks. Vietnam has established a strong economic foundation and demonstrated resilience in times of crisis, most recently the Covid-19 pandemic, by upholding independence, self-reliance, being able to withstand external influences, actively participating in the international community, and harmoniously linking internal and external resources in the process of building the economy.

Vietnam quickly opened up when the disease was essentially under control, restoring normalcy to business and manufacturing. The macroeconomic environment remained steady, inflation was kept under control at a modest level, and the key economic balances were guaranteed. Vietnam's GDP expansion in 2022 maybe 7%. Numerous reputable international agencies, including Moody's, Fitch, and Nikkei Asia, have given the prospects for the Vietnamese economy's recovery and growth favorable ratings. We both encounter numerous possibilities to succeed, even to achieve significant breakthroughs.

The Deputy Prime Minister also hoped that delegates will exchange ideas, address issues, and contribute to the forum's success. First and first, the influence of regional, inter-regional, and global concerns on Vietnam's prospects for comprehensive and sustainable recovery and development, as well as the bilateral cooperation relationship between Vietnam and India, must be thoroughly evaluated and carefully considered.

Following that is Vietnam's positioning in India's Act East policy as well as its overall foreign policy, and finally, proposals for solutions to converge resources, and promote green growth, and sustainable development in Vietnam, making Vietnam truly an important and key bridge between India and Southeast Asia, and from there to other Asian regions. According to the Deputy Prime Minister, the event will provide an opportunity for parties to share perspectives, explore possibilities, and deepen collaboration, supporting the spirit of "companionship to overcome problems, grasp new opportunities, and holistic growth."

Minister of State for Foreign Affairs Rajkumar Ranjan Singh stated that the cooperative connection between India and Vietnam has progressed extremely well over the last 50 years and is becoming closer. India is eager to invest in and collaborate with Vietnam in general, and with Binh Duong province in particular. The Secretary of State of India's Ministry of Foreign Affairs greatly values the socioeconomic accomplishments of Binh Duong province over the years and feels that, given the existing conditions, Binh Duong is an excellent commercial location. India invests and has the potential for future growth.

At the forum, Mr Nguyen Van Hung, Chairman of the Board of Directors of Becamex IDC Corporation, and the Confederation of Indian Industry Federation, led by Mr Rajive Kaul, Chairman of Nicco Group, agreed to sign the MOU so that the cooperation could continue. Specifically between Becamex IDC Corporation and Confederation of Indian Industry, establishing and developing commercial links between the two organizations, with a focus on IT, healthcare, and electronics, and promoting the development of energy through Centers of Excellence, innovation, and sustainable development projects.

Confederation of Indian Industry, which has been around since 1895, is India's largest business group. It has around 9,000 members from both the private and public sectors, including both small and medium enterprises and multinationals. More than 300,000 businesses indirectly belong to the group through about 265 national and regional industry bodies.

The forum is supposed to come up with important solutions for the times, which will help develop Binh Duong's economy, which is becoming more dynamic and ready for international integration; effectively serve the process of industrialization and modernization; and reach the goal of turning Binh Duong province into a smart city, making people's lives better.

Hoang Thu