Business News | Sitharaman, Vietnam Finance Minister Exchange Views on Global Economy, Evolving Geopolitical Challenges

New Delhi [India], May 6 (ANI): Union Finance Minister Nirmala Sitharaman on Wednesday held talks with Vietnam's Finance Minister Ngo Van Tuan in New Delhi, with both sides discussing ways to deepen cooperation in technology, innovation, energy, and pharma amid evolving global economic and geopolitical challenges.

Welcoming 10 years of the India-Vietnam Comprehensive Strategic Partnership, and noting its continued strengthening and enhancement, the two ministers exchanged views on the global economy and evolving geopolitical challenges, discussing ways to enhance resilience and stability. Vietnam side expressed keen interest in deeper cooperation in technology, innovation, energy and pharma sectors.

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According to a post by Finance Ministry on X, Sitharaman appreciated Vietnam's strong macroeconomic management and ongoing institutional reforms, reflected in its improved credit outlook and rising competitiveness, enhancing resilience and integration into global value chains.

Ngo Van Tuan appreciated India's strong macroeconomic leadership and expressed keen interest in learning from India's experience, particularly tax reforms, development of MSMEs, and the role of public investment in driving growth.

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The Union Finance Minister highlighted India's support to the MSME sector, including direct and indirect tax reforms, interest subventions, public procurement policies, and AI skilling initiatives for workforce development. She also underlined India's efforts to modernise and simplify tax administration, noting that faceless assessments and technology-driven systems have enhanced transparency.

The Finance Minister also outlined the PM Gati Shakti platform as an integrated, technology-enabled framework for infrastructure development, with Viet Nam showing interest in the approach.

The Union Finance Minister also fondly recalled her visit to Viet Nam during her tenure as Defence Minister, underscoring the strong and warm ties between the two countries.

The meeting reaffirmed the shared commitment to further deepen the India-Vietnam Comprehensive Strategic Partnership and expand cooperation across key sectors.

Vietnam President To Lam is on a three-day visit to India. He is accompanied by a high-level delegation comprising several Ministers and senior officials. A strong business delegation is also accompanying the visiting leader.

President To Lam held a bilateral meeting with Prime Minister Narendra Modi on Wednesday. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)