The central province of Thanh Hoa holds strategic advantages for international trade, supported by key infrastructure such as the Nghi Son Economic Zone, Nghi Son Deep-Water Port, and Tho Xuan Airport, according to Vice Chairman of the Provincial People’s Committee Le Duc Giang.

Leveraging these strengths, Thanh Hoa is actively developing and enhancing human resource quality to attract foreign investment, including from India, he stated during a meeting on April 15  with the Indian Business Association in Hanoi (INCHAM), led by Chairman Navendu Kumar.

Highlighting the province's investor-focused support policies, Mr. Giang noted commitments including administrative procedure reform, legal assistance, and creating favorable conditions for sustainable business operations and production.

Thanh Hoa has already increased exports to the Indian market, with export turnover exceeding $30 million in 2024. Key exports include garments, footwear, seafood, agricultural products, and electrical wires. However, Mr. Giang emphasized that the cooperation potential between the two sides remains significant and has yet to be fully exploited.

Mr. Navendu Kumar, for his part, expressed admiration for Thanh Hoa’s rapid development, particularly in high-tech pharmaceuticals, organic food, information technology (IT), automation, and tourism.

He shared that Indian businesses, possessing extensive expertise in these sectors, are keen to expand operations in Vietnam, especially in Thanh Hoa. Indian companies are particularly interested in pharmaceutical development opportunities, citing the sector’s strong export potential to markets such as the US and Europe.

To foster greater collaboration, both sides agreed to work towards signing a Memorandum of Understanding (MOU), with a focus on pharmaceuticals and medical fields, automation, garments, biotechnology, and hospitality.