Consulate General of India

Ho Chi Minh City, Vietnam

Distinguished guests,
Ladies and Gentlemen,
Good evening.

I am delighted to be invited for today’s ‘Digital Operation Ceremony of SAP-ERP and Customer Appreciation Night’ organized by DP Consulting Co. Ltd.  I would also like to congratulate DP Consulting Co. Ltd, which is the local partner of Kirloskar Oil Engines Limited (KOEL) for their today’s initiative. 

2.  Before coming for today’s event, I briefly read about the impressive profile of Kirloskar Oil Engines Limited and DP Consulting Co. Ltd.  KOEL is one of India’s leading manufacturers of diesel engines and generating sets and has its operation spread across 60 countries across 6 continents while DP Consulting Co. Ltd is the fastest growing enterprise in Vietnam representing world class products like Kirloskar, MTU, Comap.  I am glad to note that DP Consulting has been associated with Kirloskar since 2018 and our former Ambassador Mr. P. Harish was the Guest of Honour along with former Consul General during Kirloskar Office opening event in 2018.
 
3. Ladies and gentlemen, I am happy to share that while Kirloskar & DP Consulting together completed many prestigious projects across Vietnam in its last 3 years journey, they also received a prestigious contract for powering Vietnam Gand Prix, Formula One Race which was eventually cancelled due to the ongoing pandemic. It is equally heartening to know that in today’s time, when the whole world is battling this pandemic, DP Consulting played a vital role in country’s response to the outbreak by providing free rental of Kirloskar Generators to country wide isolation centers, which was duly appreciated by the health authorities and the Department of Electricity of Vietnam.

4. As you all are aware, India and Vietnam have a very strong relationship with deep historical and civilizational roots, going back over two thousand years.  India enjoys substantial goodwill in the country and currently, both the countries enjoys ‘Comprehensive Strategic Partnership’. Vietnam is a key component of India’s ‘Act East Policy’ and ‘Indo-Pacific Ocean Initiative (IPOI).  Our cooperation and partnership has expanded to all sectors including agriculture, healthcare, defence and space, science & technologies, etc. The frequent visits at higher levels in recent times have boosted our relationship further.  Although, the pandemic has put a dampener in the tourism sector at present, I am sure with the direct air connectivity that launched between both the countries last year, tourism and people-to-people contact will see a boost in the coming days.

5.   Enhancing strong trade and economic engagement between both countries is a strategic objective, a core element of the Comprehensive Strategic Partnership.  Ladies and Gentlemen, I am happy to share that from a meagre bilateral trade of USD 200 million in the year 2000, trade between India and Vietnam has steadily grown over the years and presently stands at USD 12.34 billion in FY 2019-20. For India, Vietnam is the 18th largest trading partner globally and within ASEAN, the 4th largest trading partner after Singapore, Indonesia and Malaysia.   As of June 2020, India has about 278 projects in Vietnam in the sectors of energy, mineral exploration, agro-processing, sugar, tea, coffee manufacturing, agrochemicals, IT and auto-components with a total invested capital of USD 887 million as per Vietnam’s Foreign Investment Agency.   We are all aware of the crisis the whole world is going through at present.  Although the COVID crisis has brought disruption to the whole world economy, at the same time the crisis has provided an opportunity to both India and Vietnam to explore partnerships in the global supply chain of products & services.

6. Vietnam is also a benefactor in the capacity development assistance projects offered by the Indian Government.  Recently, twelve MoUs were signed between Government of India and Vietnam under the Quick Impact Project assistance offered by the Indian government which are geared towards socio-economic benefits to the grassroots community.  Under education, every year, large number of meritorious students and working professionals get training in India under the different short-term and long-term scholarships offered by the Indian Government. 

7.   Ladies and Gentlemen, I would like to take this opportunity to inform you about some of the reform measures introduced by the Government to India.  As you all know, India currently is the fifth largest economy of the world.  With a strong and growing middle class of more than 400 million, a low cost but highly skilled labour force and an easier doing business climate, India has become one of the most attractive destinations for foreign investment. Under the ‘Make in India’ project, our Prime Minister recently announced for Atma Nirbhar Bharat – making a ‘self-reliant India’.  By turning crisis into opportunity, India can become a production house and a reliable partner for the Global Supply Chain of products in different sectors.  This would also mean greater focus on ease of doing business, greater focus on providing openness to our economy. 

8.  At the end, I would once again like to congratulate DP Consulting for their initiative in implementing SAP for their countrywide operations and I wish for more success to KOEL and DP Consulting in their joint ventures in the coming years.  Last but not the least, I would like to express my thanks for inviting me for today’s event and wish you all good health, happiness and prosperity.  I hope you will have a pleasant evening.