(MPI) - Minister of Planning and Investment Nguyen Chi Dung welcomed Rajeev Chandrasekhar, former Minister of State for the Ministry of Electronics and Information Technology, Ministry of Skill Development and Entrepreneurship of India on December 3. Attending the reception were representative of Tony Blair Institute.

Minister of Planning and Investment Nguyen Chi Dung (R) and former Minister of State for the Ministry of Electronics and Information Technology, Ministry of Skill Development and Entrepreneurship of India Rajeev Chandrasekhar. Photo: MPI

Welcoming Rajeev to visit and work with the Ministry of Planning and Investment (MPI), Minister Dung shared with his guest some insights into Vietnam’s socio-economic development, emphasizing that the robust development of science, technology, innovation, and digital transformation is the main driving force behind Vietnam’s economic growth. Some outstanding achievements over 40 years of renewal were that the growth rate maintained high momentum, and the country’s GDP scaled reached about 430 billion USD in 2023.

According to the minister, achieving these results has been made possible through effective cooperation with other countries and international organisations. Among these, the support and collaboration from policy advisory agencies, strategic investment connectors, like the TBI, play a significant role.

He said that Vietnam is actively promoting human resource development for the semiconductor industry, aiming to train 50,000 engineers by 2050 and build a strong workforce to integrate into the global semiconductor value chain.

The minister urged Rajeev and the TBI Institute to continue collaborating with the MPI, through the National Innovation Center, to provide talent exchange programmes, scholarships, and expert resources, and share experiences, conduct research, and offer consultancy to help the country quickly complete its institutional framework and establish a transparent legal framework that encourages investors to explore opportunities in Vietnam. He also sought advice on policies to help Vietnam establish a financial center aligned with international practices and national characteristics, ensuring effective operations.

For his part, Rajeev emphasised the strong traditional and friendly ties between Vietnam and India, highlighting many similarities in promoting investment in emerging fields such as hi technology, digital transformation, and green transition to drive national economic development.

The Indian official stated that Vietnam is a highly promising market with many attractive investment opportunities, adding that tts abundant human resources provide an excellent opportunity for both sides to collaborate on programs to enhance training and develop talent for emerging industries.

During the meeting, the two sides held extensive discussions on potential cooperation opportunities and shared experiences in attracting foreign investment in key areas such as digital transformation, green transition, semiconductors, and AI. They also offered policy consultations to encourage large corporations and enterprises to explore investment opportunities in Vietnam.

Minister Dung affirmed that the Vietnamese Government is always committed to creating an open institutional environment and transparent infrastructure to ensure a favorable investment and business environment for investors./.

Bao Linh

Ministry of Planning and Investment