Webinar held to help Vietnamese firms increase presence in India
The Trade Office of Vietnam in India held a webinar on February 8 to update Vietnamese businesses about regulations and procedures for opening branches in the South Asian country.
Participants in the webinar held by the Trade Office of Vietnam in India on February 8 (Photo: VNA)
New Delhi (VNA) – The Trade Office of Vietnam inIndia held a webinar on February 8 to update Vietnamese businesses aboutregulations and procedures for opening branches in the South Asian country.
In his opening remarks, Vietnamese Trade Counsellor in IndiaBui Trung Thuong noted bilateral trade reached 15 billion USD in 2022, turningIndia into the eight biggest trading partner of Vietnam. However, there remainsmuch potential and room for both sides to develop trade links. Theirmarkets are large and export structures are highly complementary to each other.
Nguyen Phuc Nam, Deputy Director of the Asia - Africa MarketDepartment at the Vietnamese Ministry of Industry and Trade, said that Vietnamviews India as an important market with a population of about 1.4 billion.
To improve trade and investment ties with Indian firms andfurther seize opportunities in the Indian market, the opening of branches andrepresentative offices in India is one of the directions Vietnamese businessesshould consider in the current context, he went on.
Nam added the MoIT and the Trade Office are always ready toassist enterprises in seeking cooperation and tackling difficulties facingthem in India.
Manan Agarwal, Director of KrayMan Consultants LLP, saidVietnam’s direct investment in India is still modest, 28.55 million USD.
Meanwhile, India holds many conditions for foreign investmentssuch as an abundant source of land and a young workforce speaking Englishfluently. Its Government has also issued many foreign investment attraction policies,especially for priority fields such as batteries, consumer electronics, autospare parts, pharmaceuticals, and telecoms product manufacturing.
Vietnamese businesses can be present directly in India viarepresentative offices, offices of projects, branches, and affiliates, or indirectlyvia investment cooperation, mergers and acquisitions, technical supportcontracts, and franchising, Agarwal noted.
At the event, a leader of India’s HDFC Bank also detailed theregulations and procedures for setting up branches, representative offices, andoffices of projects in his country./.
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Participants in the webinar held by the Trade Office of Vietnam in India on February 8 (Photo: VNA) 
