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Wednesday, June 19, 2024

Invest Vietnam Conclave promotes Vietnam as attractive investment destination

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HCMC – The Invest Vietnam conclave, which was co-organized by the Indian Investors Federation, the Vietnamese Embassy in India and Leaps and Bounds Consulting Vietnam, took place virtually on June 12, aimed at presenting Vietnam as an investment destination to Indian investors from various sectors.

The webinar had panelists from both the government and leaders of Indian companies in Vietnam. Around 110 investors joined the virtual event from India and other parts of the globe.

Addressing the event, Pham Sanh Chau, Vietnamese Ambassador to India, talked about the potential of the India-Vietnam investment relations and the attractive sectors for investment in Vietnam such as pharmaceuticals, the automobile supporting industry and information and technology.

The Vietnamese ambassador stated that Vietnam has an ecosystem for start-ups, and investors can also look to invest in these young companies with a strong vision. He added that the Vietnamese Embassy has a business-centric approach toward economic diplomacy and is always keen to provide all kinds of support to the investor community.

According to Madan Mohan Sethi, Consul General of India in HCMC, Vietnam is one of the fastest growing economies in the world and it is the country to watch out for.

Dr. Sethi also applauded the provincial governments for adopting open market policies to entice investors. He also told the investor community that there are many Indian companies willing to come to Vietnam and explore the possibilities once the Covid-19 situation is controlled.

Sanjay Jain, CFO and HR Head at Wipro Vietnam, said that getting young and qualified skilled manpower is not an issue at all, as it helps to recruit the right talent for the business. Wipro Vietnam also has plans to expand its business in the upcoming period, thanks to the open and supportive policies of the Vietnamese Government.

Speaking at the event, Vishwas Saraswat, founder and director of Leaps and Bounds Consulting, said that given the current Covid-19 situation, the Vietnamese Government is doing an excellent job and in fact last year the country’s GDP grew by 2.91% despite the turmoil in the global economy due to the pandemic.

Factors including a stable government, a strong qualified young population, competitive tax benefits and robust infrastructure have made Vietnam a perfect destination for investors in India, he continued.

Further, the Leaps and Bounds representative also talked about Vietnam’s open market policy with over 14 free trade agreements which Vietnam has signed as it will provide a bigger market to investors.

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