India signed an MoU with Vietnam on Tuesday which is aimed at the micro, small and medium enterprises (MSME) in Vietnam. The thrust will be on building greater capacity in order to develop an institutional framework and also identify opportunities and areas for further development of this sector. The MoU was inked in the presence of Vice President Hamid Ansarim, who is on a 4-day state visit to the country. Vietnam was represented, on the MoU, by their Minister of Planning and Investments (MPI), Mr. Dao Quang Thu. India was represented by the Indian Ambassador Ranjit Rae for the Ministry for MSME.
An official involved in this matter said that this MoU will aim at developing capacity for policy implementation and build an institutional framework to thrust on development of opportunities for Vietnam™s MSME. Experts from India and Vietnam, will conduct Industrial surveys and performing feasibility studies to identify areas for development.
The deal also envisions promotions of industrial institutional co-operations and multiple partnership projects between the countries. These will be addressed through exhibitions and also using trade fairs as a platform for marketing the MSMEs™ products. Transfer of technologies, building business alliances, and providing managerial and technical trainings for MSMEs have also been talked about.
India-Vietnam have kept a target of USD 7 billion for trade and investments till 2015, thereby boosting the economic ties. The bilateral trade, Ansari stated, was a matter of concern as it has not been up to expectations. Issues which led to this below expected performance have been identified and will be addressed to in this MoU. A Joint Committee of
A Joint Committee has been constituted comprising representatives from the MPI (Vietnam) and Ministry of MSME (India). They will be entrusted to monitor the implementation of this MoU.