(VOVworld) – Vietnam is ready to create very favorable conditions for Indian firms to expand investment in Vietnam.

President Truong Tan Sang receives outgoing Indian Ambassador Preeti Saran

President Truong Tan Sang was speaking at a reception in Hanoi on Thursday for Indian Ambassador Preeti Saran who bade farewell at the end of her tenure in Vietnam.

President Sang reiterated Vietnam’s consistent policy of supporting India’s ‘Look East policy’ and pledged to efficiently implement agreements signed between the two countries.

He said that with the current growth rates of both Vietnam and India, trade turnover could reach 10 billion USD over the next five years, adding that he hopes both countries will also work more closely with each other in international forums.

Ambassador Saran said India and Vietnam should boost cooperation in economics, trade, tourism, and people exchange. She said that India was ready to invest in projects on oil and gas exploration as well as defense security, especially the training and assistance of equipment for the Vietnamese navy.