In the context of Vietnam's economy and that of the world gradually recovering and regaining growth after the crisis, trade between Vietnam and India in 2012 achieved a lot of success. Import-export turnover between Vietnam and India increased from US$2 billion in 2010 to more than US$3.9 billion in 2012. Indian investment in Vietnam, by November 2012, reached US$252 million. The Vietnam-India Business Forum has significantly contributed to the overall success.
In 2011, under the decision of the Prime Minister, the Vietnam Chamber of Commerce and Industry (VCCI) established the Vietnam-India business forum. So far, the Forum has established the Board of Directors and the Advisory Board, and actively supported the business communities of the two countries.
According to VCCI, the Forum has organised a number of conferences to promote trade and investment for Vietnam-India businesses. They included workshops on trade and investment on the occasion of the Vietnam visit by the President of the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the Federation of Indian Export Organizations (FIEO), with business groups (65 members) coordinating with the VCCI Branch in Ho Chi Minh City to organize the Vietnam-India Business Forum in Ho Chi Minh City; coordinated with VCCI in Thanh Hoa province and the People’s Committee of Thanh Hoa, the Indian Embassy in Vietnam and the Indian Business Chamber in Vietnam (INCHAM) to hold the workshop "Introduction of potential business cooperation with the Indian market" in Thanh Hoa province.
In addition, the Forum also coordinated with VCCI branch in Da Nang City to hold a seminar "Exploiting the potential Indian market" in Dak Lak; coordinated with VCCI branch in Vung Tau province to organise Vietnam-India Business Forum in the field of information technology in Vung Tau; coordinated with VCCI Branch in Can Tho to organise a seminar on "tourism development experience of India" in Phu Quoc Island of Kien Giang province.
The workshops were attended by many Vietnamese businesses, who had the opportunity to receive necessary information for doing business with this market and had the opportunity to talk with representatives of the Government of India about potential difficulties and problems.
In addition, Vietnam-India Business Forum has worked closely with the Indian Embassy, (INCHAM ), the Indian Consulate General in Vietnam, Vietnamese Ministry of Trade and Industry, People's Committees of provinces and cities to hold more than 10 workshops / seminars introducing the Indian market and holding talks between Vietnamese and Indian enterprises, in Hanoi, Thai Nguyen , Phu Tho, Yen Bai, Quang Ninh provinces, with representatives of the two governments. The Forum also organized a trade and investment cooperation seminar on information technology in Hanoi on the occasion of the Indian information technology business delegation sent by the Board of Exports Promotion to visit and work in Vietnam.
These seminars attracted 100-150 businesses from different cities across the country. The businesses were provided with updates on the Indian market, the main export commodities of the two countries and preferential policies to encourage investment by the two governments. At the same time, Indian companies were provided with information on the business and investment environment in Vietnam, and also could access the list of projects which are calling for investment in Vietnam at the conference held in the provinces. Vietnamese enterprises are increasingly interested in business cooperation with the Indian market, opening up potential opportunities for cooperation in the future.
The forum also provided guidance, counselling and enhanced business capacity and competitiveness, in coordination with VCCI branch in Hai Phong, to organize training seminars on Indian market access skills in Hai Phong; organized the seminar "Marketing - Indian Market Access"; and "Contract, implementing export contracts and limiting risk when doing business with the Indian market" in Hanoi. At the conferences, experienced senior professionals introduced Vietnamese enterprises to market access skills, and representatives of Vietnamese enterprises successful in penetrating the Indian market shared their experience.
According to the Forum Secretariat, more and more Vietnamese businesses are interested in doing business with the Indian market, which is an important force to support and encourage the forum to perform more efficiently. Indian businesses still regard Vietnam as an attractive destination for investment, and India continues to be an important market of Vietnam’s enterprises. Through the forum, many Vietnamese and Indian enterprises met to exchange and sign contracts to do business.
However, according to the Forum Secretariat, the Vietnam-India Business Forum has not organized Vietnamese business delegations to India to survey the market or hold activities to promote trade and investment in India due to high travel cost. Limited and declined funding over the years (2013 is the last year to receive funding from the state budget) and expenditure limitations also make it difficult to continue with activities to promote trade and investment with India.
So, for more efficient operation of the forum, VCCI said that the ministries should collaborate to provide information for the forum about investment and customs policy for publication in the Portal, and coordinate in joint activities of the Forum; the Leadership Forum and Advisory Board will take feedback to work out a plan to operate with the most efficiency to serve the common interests of the business community. In addition, the Government should continue to extend and support partial funding for the Forum's activities in the coming years.
Mai Anh
Vietnamese
