Indian businesses research Vietnamese investment

Vietnam’s India trade office has coordinated with the Federation of Indian Export Organisations (FIEO) on a New Delhi seminar discussing bilateral trade and investment opportunities.Nguyen Son Ha, the Vietnamese Embassy in India’s trade councillor, delivered a briefing on the Vietnamese economy, recent developments in bilateral trade relations, the implications of the ASEAN-India FTA Agreement since June 1 2010, and a proposed tariff reduction roadmap facilitating Indian business investment in the Vietnamese market.Indian businesses inquired about Vietnam’s foreign direct investment (FDI) incentives, such as the regulations governing wholly foreign owned businesses, corporate income tax, electricity prices, the Law on Foreign Investment’s land rental stipulations, and Vietnam’s industry exhibitions and fairs.Ha answered the representatives’ queries, provided contact details for a variety of relevant agencies in India, and invited Indian businesses to participate in some of the major trade fairs scheduled for the remainder of 2013.Both countries are striving to achieve an annual bilateral trade turnover of US$7 billion by 2015.VOV