On Saturday, June 12th 2021, the Indian Investors Federation (IIF) in collaboration with Vietnam Embassy in India organized webinar “iVietnam – Invest Vietnam Conclave” with the participation and discussion among Diplomatic Organizations, Indian Association and Indian Businesses operating in Vietnam
Mr. Rajat Dhar, Director of IIF expressed the gratitude toward the Excellencies: Mr. Pham Sanh Chau – Ambassador of Vietnam to India, Dr. Madan Mohan Sethi – Consul General of India in Ho Chi Minh City; toward the participation of the speakers: Ms. Dang Thi Ngan Ha – Representative of Investment Promotion Center – South Vietnam (IPCS), and representatives of associations, Indian businesses and more than 100 participants from many countries.
At this conference, Mr. Pham Sanh Chau, Ambassador of the Socialist Republic of Vietnam in India emphasised that policy had an important role in attracting FDI. He talked about the development and improvement of the regulatory frameworks to promote business activities of foreign investors and 14 Free Trade Agreements that Vietnam has officially implemented.
Specifically, the ASEAN – India Free Trade Agreement (AIFTA) was signed on October 8, 2003 and the India- ASEAN Agreement on Investment was effective on July 1, 2015.
IPCS Representative introduced Vietnam’s strengths in attracting foreign investment. As of May 2021, the total newly registered capital, adjusted capital, purchased shares and purchased capital from foreign investors reached nearly USD 14 billion, increased by 0.8% as compared to the same period in 2020. The realised capital of foreign direct investment is USD 7.15 billion, increased by 6.7% as compared to the same period in 2020.
“Vietnam is a Southeast Asian country which is famous for its history, favourable nature and the development of cosmopolitan cities. Vietnam is emerging as a new business destination with low labor costs and a steady growing economy t attracting businesses as well as investors. Many investors intends to set up businesses and factories in Vietnam”, presented by Mr. Sanjay Jain, CFO of Wipro Unza Vietnam.
Indian companies currently investing in Vietnam such as Leaps & Bounds, Wipro Unza Vietnam, Finogent Advisory LLP, Tata Coffee Vietnam, etc. had live answer session about business establishment, investment and business implementation and other aspects in Vietnam.
The conference aims to create a forum for the Indian business community and investors to learn about and have the dialogue with government agencies and the Vietnamese business community. Investors will have the overall image and brief information about business and investment orientation in Vietnam; insights about the investment and business environment in Vietnam. In the complicated situation of the Covid-19 epidemic, the flexible coordination of the parties has made the distance and the epidemic not a barrier to investment and trade promotion activities.
Investment Promotion – South Vietnam
Department of Informaton and Documentation