Hanoi: India and Vietnam Tuesday signed an MoU aimed at building capacity for developing institutional framework and identifying thrust areas and opportunities for micro, small and medium enterprises in this country.
The MoU was signed here between the Ministry of Planning and Investments of Vietnam and Ministry of Micro, Small and Medium Enterprises (MSMEs) of India during the ongoing 4-day state visit of Vice President Hamid Ansari to Vietnam.
The pact was inked by Dao Quang Thu, Vice Minister of Planning and Investment of Vietnam, and Indian Ambassador Ranjit Rae.
"The MoU will focus on building capacity for developing policy and institutional framework through exchange of experts for the development of MSMEs, and conducting industrial surveys and feasibility studies to identify thrust areas and opportunities for development of MSMEs in Vietnam," an official said.
It also envisages promotion of partnership projects and institutional cooperation between the two countries, organising exhibitions and trade fairs for marketing the products of MSMEs, exchange of business missions to initiate transfer of technology and business alliance, and providing training for improvement of managerial and technical skills for MSMEs.
The MoU is part of India's efforts to further strengthen economic ties with Vietnam.
The two countries have set a trade and investment target of USD seven billion by 2015.
However, Ansari yesterday expressed concern that the bilateral trade was not up to the expectations.
He pointed out that some problems in this regard had been identified and were being addressed.
A Joint Committee comprising representatives from the Ministry of Planning and Investment (Vietnam) and Ministry of Micro, Small and Medium Enterprises (India) would monitor the implementation of the MoU.