Pune shakes hands with Vietnam on investment

From setting up of sugar plants to starting auto component units, Pune Inc is deliberating on the Vietnamese call for investment and fostering bilateral trade relations.

A 13-member Vietnamese delegation that visited Pune recently got an overwhelming response from business houses in Pune. Many companies explored various investment options and incentive schemes available to start their project in Vietnam.

Delegates from Kalyani Hayes Limited, Mahindra Forgings, Tata Autocomp Systems Limited and Manik Engineers were among the other business houses that interacted with the Vietnamese team at the Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA).

It comes in the background of a growth of 63.1% in the Vietnam-India total trade turnover in January 2011 that reached $364.7 million.

Speaking to DNA, Phan Huu Thang, director of Center for Foreign Investment Studies (CFIS), Vietnam, who led the delegation, said that the country offers promising opportunities to Indian companies in engineering and automotive.

“IT, pharmaceuticals, sugar plant machinery, plastic materials and food processing products have a good market in Vietnam. We would like more companies from Pune to visit Vietnam and start their operations in the country,” he said.

The delegation from Vietnam included heads of various industrial zones in Vietnam, business heads and representatives from academic institutes.

The delegation is also exploring the possibilities of institutional links between Vietnam and Pune.

Thang, in his presentation to Pune companies, highlighted various investment options available in Vietnam and various sectors that the Pune companies can look at.

Major Vietnamese exports to India include tea, rubber, crude oil, pepper, cinnamon and coal.

Tags: Pune Vietnam