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INDIAN BUSINESS CHAMBER IN VIETNAM (INCHAM)          

Report of the Board of Governors

for the Year 1999

1. Introduction:

India and Vietnam have shared strong political and cultural links over decades. President

Ho Chi Minh and Prime Minister Jawaharlal Nehru laid the foundation to this fraternal relationship, which has blossomed since then.

Looking back into the past decade, the business communities of the two countries have witnessed, with a sense of appreciation, the changes in the economic policies of their countries, which have helped transform their economies into ones amongst the leading economies in the region. It is noteworthy that over the last eight years, Vietnam has achieved an average growth of over 8% per annum. On similar lines, the Indian economy, which ranks fifth in the world in terms of the purchasing power parity, has seen a steady growth of 5-8% per annum over the past decade.

It is on this foundation that the trade and economic relationship is beginning to grow and attain depth. More Indian companies are now investing in Vietnam and a large number of Indian and Vietnamese companies are engaged in bilateral trade. Given the vast reservoir of areas for mutual cooperation, the two countries hold the potential to be major business partners in the region.

2. Formation of INCHAM:

Under this promising business environment, and with encouragement from the Government of the Socialist Republic of Vietnam, the Embassy of India in Hanoi and The Consulate General of India in Ho Chi Minh City, the Indian Business Chamber in Vietnam (INCHAM) was formally launched in March ’99.

It was a difficult task to conceive and create a non-profit organization of this size. Thanks to the efforts put in by the founder members of the Board of Governors and those of the Sub-Committees, INCHAM could carry out the procedures smoothly and receive the licence in record time. Preparation of the Charter, enrolling of members, creation of the administrative organization, allocation of responsibilities amongst the office bearers, brain storming sessions to chalk out the plan of action, preparation of the expense budget were amongst various activities performed selflessly by the office bearers even prior to the formation of INCHAM and should not go unacknowledged.

INCHAM endeavours to play an active role in promoting the two-way trade and investment between the two countries. It also aims at organizing social events for the members and their families and assist them by way of advice on proper and lawful business practices. INCHAM also endeavours to publish a Newsletter periodically covering useful information for its members and the business communities of the two countries.

4. Activities:

Since its inception in March ’99, INCHAM has put together a string of successful events, which are as follows:

1. Business Related Activities:

( a ). Legal briefing by senior officials from the Department of Trade, Department of Planning and Investment, Customs, Immigration, Economic Court and Department of Labour at HCMC on May 7^th ’99. This was followed by an informal lunch hosted by INCHAM.

( b ). Meeting with the Vietnam Chamber of Commerce and Industry at HCMC on July 23^rd ’99. During this function, the Associate Membership of VCCI was awarded to INCHAM.

( c ). Presentation on the Indian Pharmaceutical Industry to the senior officials of the Ministry of Health, followed by a reception at Daewoo Hotel, Hanoi on August 25^th ’99. The event was graced by H.E. Prof. Le Van Truyen, Vice Minister, H.E. Mr. Aftab Seth, Ambassador of India and Mr. Sanjay Singh, Consul General of India in HCMC.

( d ). Presentation at Hanoi on Nov 20^th ’99 on India’s Economic Profile to the members of the delegation accompanying H.E. Mr. Tran Duc Luong, President of the Socialist Republic of Vietnam to India. The occasion was graced by H.E. Mr. Nguyen Dinh Bin, Vice Minister of Foreign Affairs, H.E. Mr. Ho Tien Nghi, Vice Minister (Vietnam News Agency), H.E. Mme Chu Thuy Quynh, Member of Parliament and H.E. Mr. Aftab Seth, Ambassador of India.

( e ). Meeting with senior officials from Mekong Delta and neighbouring provinces (11 provinces in all), presentation on India’s Economic Profile and one to one interaction during informal lunch on Dec 1^st ’99. Mr. Sanjay Singh, Consul General of India, also attended the function, which was organized in conjuction with the 3^rd Pride of India Expo.

( f ). Participation in the third Pride of India Exhibition at HCMC from Nov 30^th until Dec 4^th ’99. INCHAM was allotted a separate booth where the members had the opportunity to put up catalogues for distribution to prospective customers.

( g ). INCHAM took the initiative and obtained a Guidebook from the Service of Trade, which details the administrative formalities of foreign representative offices. It also obtained the Vietnam Export-Import and Investment Directory 1999 – 2000 for the benefit of members.

Report on ‘India’s Economic Profile’ has been prepared in both English and Vietnamese languages. A similar report on ‘Vietnam’s Economic Profile’ is being prepared and is expected to be ready soon.

( h ). Process has been initiated by INCHAM to establish a working relationship with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Indian Industries (CII). This will enable us to exchange information and assist members in their bid to expand business with Vietnam.

2. Social and Cultural Activities:

( a ). Inauguration of INCHAM at Hotel Sofitel Plaza on March 26^th ’99. The function was attended by the members and their families, a large number of senior leaders from the People’s Committee of Ho Chi Minh City, the Ambassador of India, members of the Vietnamese business community and representatives of foreign business chambers.

( b ). Informal get-togethers with AMCHAM and Singapore Business Group in April ’99.

( c ). Visit to Nagarjuna’s Sugar Mill on May 1^st ’99.

( d ). Get-together of members and their families at Panorama on May 22^nd ’99.

( e ). Get-together of members and families at Hotel Omni Saigon on July 24^th ’99.

( f ). Cultural Performance by the Ramayana Troupe from India on August 21^st ’99 in association with the Consulate General of India.

( g ). Diwali celebration on Nov 6^th ’99 at Hotel Sofitel Plaza which was attended by over 270 people from the Indian community and other nationalities.

( h ). Members also got the benefit of various fair-deals from different hotels, restaurants and other trade and entertainment establishments.

3. ‘Incham News’:

Between March ’99 and Nov ’99, INCHAM released 3 issues of the Newsletter which were distributed to the members, important ministries in Hanoi, major provinces, Embassy of India and the Consulate General of India. Copies were also sent to some organizations in India.

4. Charity:

( a ). The Chamber also espoused the cause of charity by donating 10 houses to the people of Can Gio district on May 6^th ’99.

( b ). INCHAM informally initiated a drive amongst the Indian community to raise funds for the Indian Armed Forces. Contributions were sent to the Prime Minister’s fund through the Consulate General of India.

( c ). Clothes, medicines and money were collected for the flood victims in both Central Vietnam and Orissa.

5. Organizational Activities:

( a ). A formal ceremony was held at the office of the Service of Trade of Ho Chi Minh City on Feb 5^th ’99 for handing over the licence to INCHAM. It was attended by Mr. Sanjay Singh, Consul General, Mr. K. Govindan, Consul and members of the Board of Governors and Sub-Committees of INCHAM.

( b ). Working office of INCHAM was set up at the Saigon Riverside Building in Aug ’99.

( c ). In order to cater for the needs of the Indian business community in the north of Vietnam, the Hanoi chapter of INCHAM was established on Nov 20^th ’99.

H.E. Mr. Nguyen Dinh Bin, Vice Minister of Foreign Affairs and H.E. Mr. Aftab Seth, Ambassador of India were amongst various dignitaries present at the occasion.

( d ). Accounts for the period Oct ’98 - Dec ’99 will be presented to the members during the Annual General Meeting on Dec 18^th ’99.

5. List of Members as of Dec 18^th ’99:

List of Corporate and Individual Members, as of Dec 18^th ’99, is enclosed.

6. Conclusion:

INCHAM has a mission to fulfil. A mission that aims to provide collective benefit to the business communities of the two countries. A mission that aims to provide benefit to each and every member.

Judging by the substance and frequency of its wide ranging activities, as well as the response from the business communities of the two countries, it is evident that INCHAM has hit the ground running in its first year of operation. With growing membership, it is set to blossom into a utilitarian business chamber aiming to further the trade and investment between India and Vietnam and fulfil its ultimate mission.

7. Acknowledgements:

INCHAM owes gratitude to all its members, the Government of the Socialist Republic of Vietnam, the Embassy of India, Hanoi and the Consulate General of India in Ho Chi Minh City for their kind support.

Special thanks are also due to H.E. Mr. Aftab Seth and Mr. Sanjay Singh, both Patron Members of INCHAM, Mr. S.K. Verma, Dy Head of Mission – Embassy of India, Hanoi, Mr. K. Govindan, Consul – Consulate General of India in Ho Chi Minh City, Mr. K.N. Rao, Second Secretary-Embassy of India Hanoi, and the following members of the administration for their support and most valuable contribution to the organization:

1. Board of Governors:

Mr. Shantanu Srivastava, Chairman

Mr. Kishore Naik, Vice Chairman

Mr. Dilbagh Manmohan Singh, Member

Mr. Ashok Agarwal, Member

Mr. Ajay Panot, Member

2. Sub-Committees:

Mr. Ashish Bhatia

Mr. Maneesh Dane

Mr. Manish Sogani

Mr. Paramjeet Singh

Mr. Phani Mohan

Mr. Sandip Mukherjee

Mr. Sejal Kapadia

3. Editorial Committee:

Mr. Phani Mohan

Mrs. Bhavesha Sharma

Mr. Shantanu Srivastava

4. Managing Committee of Hanoi Chapter:

Dr. Jaswant Singh, President of Hanoi Chapter

Mr. Amit Joshi, Secretary

Mr. R. Ravi Kumar, Secretary

5. Ms Nguyen Thi Thanh Ngoc, Secretary – INCHAM

6. Special thanks are also due to Mrs. Kavita Mohan, Mrs. Rashmi Naik, Mrs. Vineeta Agarwal, Mrs. Reshma Bhatia, Mrs. Nishi Srivastava, Ms Anu, Mrs. Supriti Havele, Mr. Sandeep Sharma, Mr. Raj Vardhan, Mr. P.A. Narayan, Mr. Ashok Sharda, Mr. Deval Jani, Mr. Robin Raj, Mr. Raghavan, Mr. Arun Nayyar, Mr. Pradeep Gupta, Mr. Abdoul Hamid, Mrs. Lai Thu Trinh, Mrs. Pham Thi Tuyet, Mrs. Nguyen Thi Yen Khanh and Mr. Ha Duong Xuan Bao for their valuable support and cooperation.

Chairman

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Last modified: April 04, 2000