India is geared to play a key part in CLMV growth story : CII

Posted by Daily Shipping Times on 09-03-2017        Tweet

NEW DELHI: India is geared to play a key part in CLMV’s growth story. Stating this in the Valedictory Session of the 4th India-CLMV Business Conclave organised by Confederation of Indian Industry (CII) recently with the support of Department of Commerce, Government of India, Dr Than Myint, Union Minister of Commerce, the Republic of the Union of Myanmar, invited Indian business leaders to Myanmar to familiarise with the emerging investment opportunities in the Country.

Dr Sumeet Jerath, Additional Secretary & Financial Adviser, Ministry of External Affairs, Government of India, said that any projects initiated by Indian firms in the CLMV region facing roadblocks would be assisted by MEA to address the issue.

Mr Thao Sokumuny, Deputy Director General of International Trade, Ministry of Commerce, Kingdom of Cambodia, also invited Indian businesses to explore the various investment opportunities in Cambodia.

Mr Ton Sinh Thanh, Ambassador of Vietnam to India, said the ideas and recommendations put forth at the Conclave should translate into cross-border projects. In addition, the Ambassador announced the start of direct flights between Vietnam and India from July 2017 onwards.

Mr Southam Sakonhninhom, Ambassador of Lao PDR to India, said that India’s Look East Policy provides the necessary impetus for deeper India-CLMV partnerships but also urged India to Look East “more quickly”. He also called for speeding up the Trilateral Highway project.

Government of India has set up the Project Development Fund (PDF), and Indian businesses should leverage it to establish and expand their presence in the CLMV countries, said Mr Ali R Rizvi, Joint Secretary, Department of Commerce, Ministry of Commerce & Industry, Government of India. He added that CII’s decision to set up offices in Myanmar and Vietnam will further the business engagements between the two regions.

Mr Rahul Munjal, Member, CII National Council and Chairman & Managing Director, Hero Future Energies Pvt Ltd, said in his opening remarks said that India’s expertise in different business sectors complement the emerging needs of CLMV economies.