Indian Chamber of Commerce explores business in VN

Indian Chamber of Commerce (ICC) organized a Senior Industry Leader Delegation to Vietnam to explore investment and business opportunities, said an official statement on Tuesday.

The delegation included Vishambhar Saran, President, ICC& Chairman, VISA Group; Sanjiv Goenka, Vice Chairman, RPG Group, Utsav Parekh, Chairman, SMIFS Capital Markets Ltd & R K Sharma, Managing Director, Baidyanath Ayurved Bhawan Pvt Ltd.

The purpose of these leading industry enterprises to visit Vietnam to explore the investment opportunities in sectors like mining, steel, carbon black, real estate, herbal medicines and infrastructure finance.

During the visit the delegation meet Nguyen Thien Nhan, Deputy Prime Minister of Vietnam and expressed their interests in few areas where the ICC members would like to invest.

RPG Philips Carbon Black is already in the process of setting up the first Hi Tech Carbon Black plant in Vietnam which proposes an investment of 85 million.

The facility is a joint venture with a local state run Vinachem.

The facility will annually produce 110.000 tonnes of black carbon used for rubber manufacturing.

The VISA Steel, an affiliate of VISA group, is looking to develop a mine for high purity limestone in Vietnam for export to India and a steel plant.

Ngugen Thein Nhan welcomed all these proposals very warmly and assured the delegation to provide all possible cooperation from the government.

ICC requested the government of Vietnam to consider opening a consulate office with visa service facility in Kolkata since the traffic from Kolkata and North East of India to Vietnam is very significant and currently Vietnam has two offices in India, New Delhi & Mumbai.

Nhanhas assured ICC to take necessary action on this suggestion. He has also requested ICC to encourage Indian investors to invest in infrastructure projects in Vietnam and also assured that government will provide necessary incentives & support to those companies.

The delegation also met Nguyen Bich Dat, Vice Minister for Planning & Investment, Nguyen Van Duc, Vice Minister of Natural Resources & Environment, Nguyen Thanh Bien, Vice Minister of Industry & Trade during their visit.

The delegation was also around 60 business leaders of Vietnam at a meeting organized by Vietnam Chamber of Commerce & Industry office bearers in Hanoi.

The delegation will also visit Ho Chi Minh City today to meet the select senior Industry leaders of Vietnam.