Sri Lanka Business Delegation Visits Vietnam

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By Gherardo Liguori

Aug. 21 – Sri Lankan and Vietnamese businesses met in the Chamber of Commerce and Industry of Vietnam in Ho Chi Minh City on August 14, 2012.

The event demonstrates the interest of Sri Lankan enterprises to enter the Vietnamese market as well as the even greater willingness of Vietnamese businesses to look for cooperative opportunities with Sri Lankan businesses. Seven Sri Lankan companies and about fifteen Vietnamese companies had the chance to discuss many issues and to understand and clarify doubts about their respective countries. Unsurprisingly, tax issues were at the top of both of the agenda.

The Sri Lankan companies attending the event deal mostly with manufactory products and local food and beverages products. During the public speech, representatives of the companies underlined similarities between the two countries, from the historical point of view as well as from the present perspective.

Both Vietnam and Sri Lanka were colonized for hundreds of years because of their strategic positions on important oceanic trade and communication routes. Today Sri Lankan and Vietnamese companies share a willingness to grow and increase business opportunities. The meeting of businesses is evidence of efforts to act on this willingness; however, in order to have a real increase of business, it is necessary for the respective governments to act decisively to form stronger bonds between Sri Lanka and Vietnam through treaties that make it easier for foreign companies to enter the country’s markets. This issue requires definitive commitments by both governments to move a partnership between the countries past the point of mere rhetoric.

Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.

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