VCCI Bringing Bilateral Ties to New High

As a bridge for business and information exchange among domestic companies as well as international companies, the Vietnam Chamber of Commerce and Industry (VCCI) has created favourable conditions for companies to sign hundreds of contracts, finalise thousands of projects, make huge profits and create many jobs.

 

Leaders of many countries affirmed that Vietnam is an attractive destination for foreign companies, at business forums held by VCCI. Finnish President Tarja Halonen expressed her desire to boost traditional multifaceted cooperation between Vietnam and Finland at the Vietnam-Finland Business forum held in Hanoi on February 22, 2008 with the participation of 20 Finnish companies.

 

At the Vietnam-Czech Business Forum held by VCCI in Hanoi on March 21, many contracts were signed by Vietnamese and Czech firms, for a combined value of hundreds of millions of US dollars. Noticeable deals include a US$500 million urban zone construction project in Vietnam, the US$200 million Hanoi – Hai Phong expressway project, a US$170 million commercial centre construction project in Prague and the US$80 million Nho Que hydropower plant construction project. The Czech Republic’s Prime Minister Mirek Topolanek considered this forum a good chance for Vietnamese and Czech business communities to enhance economic and trade ties to the mutually desired levels.

 

At the recent Vietnam-Guangxi Commercial, Economic and Investment Cooperation Forum in Hanoi held by VCCI in collaboration with the authorities of Guangxi Zhuang Autonomous Region (China), hundreds of Vietnamese and Guangxi enterprises joined. As many as 37 contracts valued at US$70 million were reached, in health, hydroelectricity, mining, engineering and railway construction. Mr Vu Tien Loc, Chairman of VCCI, said this forum was a practical event to enhance economic and commercial ties between Vietnam and China.

 

According to the report of VCCI, in 2007 alone, VCCI received 607 international business delegations accompanied by nearly 26,600 businesspeople to explore the Vietnamese market and seek business opportunities. VCCI also held 180 seminars, conferences and dialogues with 25,330 international and domestic enterprises, aiming to help them approach markets, seek partners and business opportunities. It also organised 26 exhibitions for 2,800 companies (a rise of 20 per cent against 2006) and 12 trade fairs in foreign countries for 6,700 exhibitors. It also provided consultancy for 3,100 enterprises (an increase of 34 per cent) and direct information for 17,450 enterprises (a rise of 32 per cent), and granted 527,850 certificates of origin (C/O), a rise of 13.5 per cent against 2006.

 

Apart from receiving international business delegations in Vietnam, VCCI also sent many Vietnamese business delegations to foreign nations. In 2007, VCCI sent 403 business delegations accompanied by 9,120 enterprises to attend international trade fairs, international conferences and exhibitions or survey the markets. Many giant firms accompanied Party and State leaders in foreign visits, such as the State President’s visits to Laos, Cambodia, China, the US, Japan, Australia and New Zealand; the Prime Minister’s visits to India, Russia, Poland, the Czech Republic, Singapore, Indonesia, Myanmar and Brunei; the Prime Minister’s attendance of the ASEAN Summit in the Philippines and the 62^nd General Meeting of the United Nations; the Prime Minister’s visit to France; and the Vice State President’s attendance to Women's Summit in Germany. The effectiveness of these visits are reflected in the number and value of contracts signed with international partners. In 2007, Russia’s visit brought in business contracts worth US$1.15 billion, the Czech Republic’s visit US$3.6 billion, Japan’s visit US$4.5 billion, India’s visit US$4.58 billion, and Australia and New Zealand’s visit US$285 million.

 

On the other hand, VCCI also successfully organised the Vietnam Days programmes in South Korea and France. These programmes introduced the image, business environment, companies and products of Vietnam to international communities. Many high-value business contracts were signed at these events.

 

Mr Hoang Van Dung, Vice Chairman of VCCI, said that in recent years, VCCI’s trade and investment promotion activities have focused on general activities, connected small and medium enterprises with giant firms and called investment from multinational firms.

 

VCCI said in its report that it is continuing to promote the implementation of agreements and cooperation programmes with other ministries, localities, business associations and social organisations, in which it focused on training activities, construction of economic, business and enterprise databases and integration experience and knowledge. VCCI carried out a programme supporting Vietnamese enterprises to apply IT for integration and development in 46 provinces and cities. In 2007, VCCI also signed cooperation agreements with the Ministry of Education and Training and Hanoi University to support enterprises to develop human resources.

 

Besides, VCCI continued supporting small and medium enterprises to create jobs to reduce poverty and carry out the "Start and Improve Your Business” (SIYB) programme. In addition to supporting SMEs, business households and micro businesses, VCCI cooperated with domestic and international partners to carry out many business administration training programmes for big enterprises and foreign-led firms.

 

To encourage production activities and honour well-performing enterprises, VCCI annually presents awards for 100 outstanding businesspeople on the Vietnam Businessperson Day (October 13), Golden Rose Awards to outstanding businesswomen on International Women’s Day, and Corporate Social Responsibility Awards.

 

Assisting enterprises to obtain sustainable development is one of the key tasks of VCCI. Apart from the annual Corporate Social Responsibility Awards, VCCI also opened training courses on labour safety and hygiene, produced the “Labourers’ Health – Sustained Success of Enterprises” film, developed internal bulletins and a website on corporate social responsibility development.

VCCI also intensified activities to support enterprises in the integration period, in which it focused on such activities like helping enterprises overcome commercial barriers to boost exports or deal with increasing antidumping lawsuits. VCCI’s website on antidumping, www.chongbanphagia.vn, is being upgraded and an English version is being developed. , is being upgraded and an English version is being developed.

VCCI also attended meetings and boosted international integration of local businesses within the international and regional cooperation framework such as APEC BAC, ASEAN, ASEAN+3, ASEAN BAC, GMS and AJBM. It also worked with the ASEAN Business Advisory Council (ABAC) to organise the first ASEAN Business Award in Singapore. VCCI also released the ASEAN ABAC bulletin.

 

In addition, VCCI continued maintaining the effectiveness of business forums with key trade partners such as the Vietnam-China Business Forum, the Vietnam-Africa Business Forum, the Vietnam-EU Business Forum and the Vietnam-Japan Business Forum. From its bridging activities, VCCI brought Vietnamese and international firms closer together. At present, VCCI is promoting the establishment of Vietnam-US Business Forum, Vietnam-India Business Forum and GMS Vietnam.