Vietnam-India Sign MoU to Strengthen Micro, Small & Medium-sized Enterprises
Jan. 15 – Vietnamese Vice Minister of Planning and Investment Dao Quang Thu and Indian Ambassador Ranjit Rae signed a Memorandum of Understanding (MoU) on Tuesday, January 15. The MoU is aimed at building a capacity for the development of an institutional framework for micro, small and medium-sized enterprises (MSMEs) in Vietnam. The MoU was signed in Hanoi during Indian Vice President Hamid Ansari’s four-day visit to Vietnam in an effort to further strengthen India-Vietnam economic ties.
The MoU aims to develop MSMEs through beneficial exchanges between experts, industrial surveys and feasibility studies to identify thrust areas and opportunities, as well as through the promotion of partnership projects and institutional cooperation between Vietnam and India. It also calls for the organization of exhibitions and trade fairs through which MSMEs can market their various products, exchange business missions to initiate technology transfers and build business alliances, and the provision of training to improve managerial and technical skills.
A joint committee comprised of representatives from Vietnam’s Ministry of Planning and Investment and India’s Ministry of Micro, Small and Medium Enterprises will supervise the implementation of the MoU.
India and Vietnam have set a trade and investment target of US$7 billion by 2015.
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.
You can stay up to date with the latest business and investment trends across Vietnam by subscribing to The Vietnam Advantage, our complimentary update service featuring news, commentary, guides, and multimedia resources.
An Introduction to Doing Business in Vietnam
This new 32-page report touches on everything you need to know about doing business in Vietnam, and is now available as a complimentary PDF download on the Asia Briefing Bookstore.
An Introduction to Doing Business in India
Asia Briefing, in cooperation with its parent firm Dezan Shira & Associates, has just released this report introducing everything that a foreign investor should be familiar with when establishing and operating a business in India.
- Previous Article New Issue of Asia Briefing: Are You Ready for ASEAN 2015?
- Next Article Vietnam vs. China Part II: Corporate Income Tax