FICCI De­fence Busi­ness Del­e­ga­tion Vis­its Viet­nam

FICCI Business Digest - - Contents -

FICCI or­ga­nized its sec­ond De­fence Busi­ness Del­e­ga­tion to Viet­nam for B2B in­ter­ac­tions con­cur­rent to the De­fence Min­is­ter, Nir­mala Sithara­man's visit to Viet­nam. The event was held from 12 to 14 June 2018, in Hanoi, Viet­nam. The del­e­ga­tion from In­dia com­prised in­dige­nous pub­lic and pri­vate sec­tor firms ac­tive in the aerospace and de­fence sec­tor.

On the first day of the event, the In­dian del­e­gates in­ter­acted with Par­vatha­neni Har­ish, Am­bas­sador of In­dia to Viet­nam, who briefed them on the eco­nomic sit­u­a­tion in Viet­nam and on po­ten­tial ar­eas for part­ner­ship. Later, the In­dian Busi­ness Cham­ber in Viet­nam (INCHAM) hosted an in­ter­ac­tion and din­ner.

On the sec­ond day, Viet­nam Cham­ber of Com­merce, in­vited FICCI for a meet­ing. VCCI is an MoU part­ner of FICCI. Fol­low­ing the in­ter­ac­tion, In­dian and Viet­namese del­e­gates par­tic­i­pated in a day-long con­fer­ence com­pris­ing 12 In­dian com­pa­nies and over 70 Viet­namese of­fi­cials from pro­cure­ment wings of the Viet­namese mil­i­tary. Dur­ing the ses­sion, the In­dian De­fence Min­is­ter and Viet­namese Deputy De­fence Min­is­ter of Na­tional De­fence, Se­nior Colonel Gen­eral Be Xuan Trong ad­dressed the au­di­ence. The De­fence Min­is­ter urged In­dian in­vestors to look at In­dia with an open mind, say­ing there is im­mense scope in the co-pro­duc­tion of plat­form, spares, and re­pair and over­haul ser­vices, while the Deputy De­fence Min­is­ter also in­vited In­dian com­pa­nies to do busi­ness in Viet­nam not with the in­tent of sup­ply­ing just to In­dia and Viet­nam but also to other coun­tries.

Sithara­man also in­au­gu­rated Bharat Elec­tron­ics Lim­ited's (BEL) li­ai­son of­fice in Hanoi by hand­ing over a sym­bolic key to MW Gow­tama, CMD, BEL. Fur­ther­more, Al­pha De­sign Tech­nolo­gies Lim­ited signed an im­por­tant MoU with HiTACO, a state-owned com­pany in Viet­nam ac­tive in the de­fence and se­cu­rity sec­tor. The ses­sion con­cluded with a B2B ses­sion where both sides dis­cussed their ar­eas of busi­ness and ar­eas of co­op­er­a­tion they sought from their coun­ter­parts. On the fi­nal day, the Viet­namese

“In­dian in­vestors should look at In­dia with an open mind, there is im­mense scope in the co­pro­duc­tion of plat­form, spares, and re­pair and over­haul ser­vices. Nir­mala Sithara­man De­fence Min­is­ter ”

Min­istry of De­fence had ar­ranged site vis­its to Hong Ha Shipyard and a Vi­et­tel man­u­fac­tur­ing site where the del­e­gates were given a tour of the fa­cil­i­ties.

Viet­nam is one of the fastest grow­ing de­fence spenders in the world. The Viet­namese Govern­ment al­lo­cated USD5 bil­lion to­wards mil­i­tary ex­pen­di­ture in 2017, of which 32.7 per cent is ear­marked for the pro­cure­ment of de­fence equip­ment. The coun­try's de­fence ex­pen­di­ture in­creased at a CAGR of 6.41 per cent over 2013-2017.

In­dia and Viet­nam have set a tar­get of USD15 bil­lion in bi­lat­eral trade by 2020, from USD7 bil­lion at present. In 2017, In­dia ex­tended USD500 mil­lion as Line of Credit to Viet­nam for fa­cil­i­tat­ing deeper de­fence co­op­er­a­tion, and the two coun­tries have el­e­vated their ties to a com­pre­hen­sive strate­gic part­ner­ship to re­spond to emerg­ing re­gional chal­lenges.

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Nir­mala Sithara­man, De­fence Min­is­ter, In­dia (3rd from left), at­tend­ing the busi­ness meet­ing in Hanoi, Viet­nam

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