NEW DELHI, 17 Jun 2021: INDIAN INVESTORS FEDERATION, in association with The Embassy of the Socialist Republic of Vietnam conducted an iVIETNAM – Invest Vietnam Conclave, powered by Leaps & Bound Consulting on June 12, 2021. This was chaired by H.E. (Mr.) Pham Sanh Chau, Vietnamese Ambassador to India and H.E. (Mr.) Madan Mohan Sethi, The Consul General of India.s
The panel consisted of renowned Top Management Executives from leading Indian Corporates, viz, Tata Coffee, HCL Vietnam, Wipro Unza, KPMG to name a few. It saw over 500+ registrations from over 23 countries.
Mr. Dalip Sharma, Director General at INDIAN INVESTORS FEDERATION welcomed the Ambassador & other panelists and flagged the conclave; which was then moderated by Rajat Dhar – Director Investments at INDIAN INVESTORS FEDERATION and Mr. Vishwas Saraswat – Director, Leaps & Bounds Consulting.
“Vietnam is at the same crossroads at which India was in 1990’s when the Indian economy was opened; and for those who missed the bus in India, this brings in the 2nd chance to take the shot; where in the Embassy is too proactive, accessible & reachable to enable Indian business to set up businesses in Vietnam and be a part of their growth story,” said Rajat Dhar – Director Investments at INDIAN INVESTORS FEDERATION.
H.E. (Mr.) Pham Sanh Chau, Vietnamese Ambassador to India, shared the vision of the Vietnamese government to develop the nation as a digital economy. He said that the Embassy of Vietnam in India has a business-centered approach toward economic diplomacy and that they stand ready to assist all prospective investors.
H.E. (Mr.) Pham Sanh Chau, Vietnamese Ambassador to India, said that – “There is a need for robust India-Vietnam investment relations and there are many potential sectors for investment in Vietnam including pharmaceuticals and manufacturing of automobile parts.”
Representatives from the Ministry of External Affairs, GoI and Indian businesses in Vietnam shared their experiences in the country, highlighting how conducive the environment was for investment and business.
H.E. (Dr.) Madan Mohan Sethi, the Indian Consul General in Ho Chi Minh City, said that – “Vietnam is a country to watch for, explaining that provincial governments were open for business and investments. There were companies willing to explore Vietnam and we will witness many Indian investors in Vietnam once the Covid-19 situation gets normal. His office was always open to provide any assistance to investors.
Mr. Raghu Narayanam, General Director, TATA Coffee Vietnam noted that the country did not have transport strikes while having good connectivity between industrial parks and the ports, making the supply chain more efficient.
Mr. Sanjay Jain, CFO & Head Legal at Wipro Unza Vietnam said that his company has expanded into new business lines and has aggressive plans to expand operations in the future, following the open and supportive policies of the Vietnamese government.
The availability of a robust Information Technology (IT) talent pool in the country was noted by HCL Vietnam’s representative Mr. Ravi Vajpeyi – Resident Director, who said this greatly facilitated the company’s operations in the growing sector. HCL has made one of its biggest investments in Vietnam and was looking to service global, regional and local markets, he said.
Mr. Mohit Bhasin, Partner – Economic Development Advisory, KPMG in India stressed the need of having a dedicated SME corridor that would be instrumental in the development of business both ways between two Asian countries.
The massive potential of the textile and garments sector was emphasized by TAP International’s Selvaraj Gopal, who said the local industry is expected to have a value of USD 39 billion in the near future. Gopal said the labor cost was comparatively cheaper in the country and the government has issued laws favorable for both the companies and their workers.
Summing the advantages and potentials in Vietnam for businessmen and investors from India in particular and the world in general, Vishwas Saraswat, founder and director of Leaps and Bounds Consulting company, one of the co-organizers of the webinar, said, “Vietnam has all the necessary elements that investors need while deciding on their strategic investment goals.”
He said a stable government, a strong qualified young population, competitive tax benefits and robust infrastructure are some of the main advantages that investors can avail of in Vietnam. He also said that 14 plus FTAs (free trade agreements) between Vietnam and the other countries and blocs offer an immense market to investors, especially those who are willing to set up export-oriented manufacturing units.
“India is currently ranked the 26th investment partner of Vietnam with approximate USD2 billion investments in various sectors, but there are still a lot of opportunities awaiting Indian investors,” he said.
” INDIAN INVESTORS FEDERATION would work on creating the MSME corridor and facilitate the investments by MSMEs from India to Vietnam; in doing so would work like to work closely with the Embassy of the Socialist Republic of Vietnam & other stakeholders,” said Dalip Sharma – Director General at INDIAN INVESTORS FEDERATION in his closing remarks at the Conclave.
INDIAN INVESTORS FEDERATION is the leading Non-Profit Organisation that develops sustainable solutions to meet the emerging needs of the investor community. Indian Investors Federation (IIF) develops collective thought- leadership to strengthen the investment ecosystem. INDIAN INVESTORS FEDERATION provides a collective voice and representation on behalf of the investor’s community to the highest levels in financial institutions, regulatory bodies, government authorities in India and globally.