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Pham Sy Tam, Ambassador for Vietnam in New Delhi, is keen to strengthen trade ties with Sri Lanka. The envoy was speaking at a recent meeting at the Ceylon Chamber of Commerce. The Chairman of the Chamber Chandra Jayaratne endorsed the Ambassador’s view and said he would endeavour to establish close links with the Vietnamese Embassy located in New Delhi to strengthen trade, tourism and investment activities between the two countries. A poor agricultural country ravaged by wars, Vietnam has shown a promising economic revival in the recent past. Ambassador Pham Sy Tam noted this year alone 11 foreign direct investment projects were licensed for operation in Vietnam with a total registered capital of US$ 436 million. This move is expected to increase the total FDI into the country by 2 1/2 times that of the same period last year. Vietnam’s GDP increased by 7% in the year 2000 compared to 1999 and ranks among the 15 countries with the highest growth rate. Vietnam also prides itself as the second largest rice exporter and has in abundance coffee, tea, rubber and banana. Ambassador Pham Sy Tam was hopeful of a lucrative trade alliance between Sri Lanka and Vietnam. “Our specialised areas include information technology and tourism,” he said. “There is a vast potential for setting up joint ventures with Sri Lankan companies.”
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