Indian chemical firms want to set up joint venture in Vietnam

“If having chances, then about 50% of Indian chemical firms are ready to enter Vietnam to do business and develop the production investments”, Kishore M. Shah, president of the Indian Specialty Chemicals Manufacturers’ Association said.

According to Kishore M. Shah, Indian investors would like to cooperation with Vietnamese firms to build chemical supply plants.

Marico Group has recently become a major shareholder in Vietnam’s International Household Manufacturing Joint Stock Co (ICP).

In 2010, Vietnam’s import spending on chemical products from India was $75 million, rising 27% against 2009′s.

Vietnam-India total two-way trade in 2010 reached $2.75 billion, a year on year growth of 34.4%. Of which, Vietnam’s export turnover from India was $991 million, up 136% and the country’s import value from India was $1.76 billion, up 7.78% year on year.

Tags: Indian Specialty Chemicals Manufacturers' Association

Posted by VBN on Mar 15 2011. Filed under Industry. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry