Last Updated on May 8, 2026 12:18 am by BIZNAMA NEWS
AMN / Mumbai
Vietnam President To Lam on Thursday said India and Vietnam have a major opportunity to jointly play a decisive role in the evolving global supply chain landscape amid changing geopolitical and economic conditions.
Addressing the India-Vietnam Business Forum in Mumbai, President Lam called for deeper economic collaboration and invited Indian businesses, particularly companies working in advanced technology sectors, to expand investments in Vietnam.
He said the two countries had overcome several challenges together in the past through mutual cooperation and stressed that the present global environment, though uncertain, offered fresh opportunities to elevate bilateral ties to a higher level.
Highlighting the historic relationship between the two nations, President Lam noted that India-Vietnam ties were built on the vision of leaders such as Ho Chi Minh and Jawaharlal Nehru. He added that since 2016, relations between the two countries had strengthened considerably due to growing political trust and strategic cooperation.
The Vietnamese President acknowledged that despite strong foundations, bilateral economic engagement had yet to achieve its full potential. However, he expressed confidence that the coming years would open significant opportunities for trade, investment and industrial partnerships between the two countries.
Speaking at the event, Maharashtra Chief Minister Devendra Fadnavis said India and Vietnam were well-positioned to shape the future economic trajectory of Asia, particularly in sectors such as technology and manufacturing.
Fadnavis stated that in a period marked by geopolitical instability and economic fragmentation, both nations could offer the world stable governance, trusted partnerships and long-term strategic reliability.
He highlighted major infrastructure and industrial projects underway across Maharashtra, including in Mumbai, Pune, Navi Mumbai, Nagpur, Gadchiroli and Chhatrapati Sambhajinagar, and invited Vietnamese firms to invest in sectors such as electric vehicles, semiconductors, artificial intelligence, logistics and supply chain management.
The Maharashtra Chief Minister also emphasised the importance of strengthening people-to-people ties between the two countries. Referring to Buddhism as a strong cultural bridge linking India and Vietnam, he encouraged Vietnamese tourists to visit the Ajanta and Ellora caves and called for closer cooperation in tourism and hospitality.
The business forum also witnessed the signing of eight Memorandums of Understanding (MoUs) in the presence of the two leaders, aimed at expanding bilateral cooperation across multiple sectors.