Offering Favourable Conditions for Overseas Vietnamese

Overseas Vietnamese (Viet Kieu) have positive impacts on multi-lateral ties between Vietnam and foreign countries. They also play an important part in the national economic development.  

Vietnamese Deputy Minister of Foreign Affairs and Chairman of the Committee for Overseas Vietnamese Affairs (COVA) Nguyen Thanh Son said now nearly four million Vietnamese people are living and working in 102 countries and territories worldwide. The number of Overseas Vietnamese is increasing with a diversification.

 

Every year, over 500,000 Viet Kieu come to the home land for tours and business purposes. Vietnam’s overseas remittances grow between 10 percent and 15 percent annually. In 2008, despite difficulties resulted from the world economic slow down, Vietnam received overseas remittances of over US$7.4 billion, making a great contribution to the country’s poverty reduction and economic development. The figure is very impressive if compared to an Official Development Assistance (ODA) of US$5 billion pledged by international donors for this year.

 

It is estimated that roughly 400,000 Vietnamese experts and intellects are living and working abroad, mostly in Western countries, including those with at least tertiary education degrees and technician experts. The force, which enjoys a hi-tech, competitive and developed working environment, is expected to contribute to the national industrialisation and modernisation process.

 

In recent years, more large-scale events to welcome Overseas Vietnamese coming back the fatherland have repeatedly been held. Programmes such as “Fatherland Spring” “Back to Origin” and setting up Vietnamese business associations in foreign countries have attracted attention from enterprises. On November 21 and 23, the first conference for Viet Kieu took place in Hanoi, drawing 1,500 delegates, including 900 Overseas Vietnamese. This was Vietnam’s effort to boost the solidarity of Viet Kieu.

To date, Overseas Vietnamese have invested in 3,000 projects worth US$2 billion in Vietnam with annual increasing overseas remittances. They are also bridges and a driving force to promote the relation between Vietnam and foreign partners. Particularly, they have actively joined charity in their home land.

Le Danh Vinh, Deputy Minister of Industry and Trade, said Vietnam has just issued new regulations on nationality, land and house ownership, investment incentives in special areas in the country. This is a good chance for Viet Kieu.

 

Vinh also pointed out some cooperation opportunities between Viet Kieu and local firms. “Currently, Vietnam can be proud of its position in exporting some tropical agricultural products. Vietnam tops the world in exporting cashew nut, black pepper, rice and coffee. It stands the fourth in the world in seafood and natural rubber export and ranks the seventh in footwear and the 10^th in garment and textile export. Therefore, Viet Kieu businesses have the right to be proud of their home land to fully develop their roles in supporting Vietnam’s trade and investment promotion abroad”. 

 

According to Vu Ngoc Trac, General Secretary of the Vietnamese American Entrepreneurs Association, said over the past years, the government has made strong effort in trade and administrative procedure reform to show its commitments in opening the goods and services market. However, administrative procedures remain complicated and cumbersome. “Normally, to invest in a project, Overseas Vietnamese have to spend much time to complete these procedures”.

 

Dinh Tan Hung, a Viet Kieu from Ukraine, suggested that Vietnam should have a more equal policy for local and Viet Kieu companies. “The thing which makes use feel unsafe to invest in Vietnam is the non-transparency in Vietnam’s investment. We feel that we will be easily taking advantages of due to this. Therefore, we need more transparent policies. The government should work out special policies for us.”

Many Vietnamese products are popular and see development opportunities in Ukraine, including dried fish, tra fish, and footwear, garment and textile products. They are Vietnam’s key products which are strong enough to compete with Chinese ones.

 

“We plan to pour more money into the development of these products and bringing them Ukraine’s rural areas. However, we still expect more investment information from Vietnam”, Hung noted.

Tran Khanh Tuyet, a representative from the Viet Kieu community in the US said the COVA should arrange more staffs to work at its representative offices in foreign countries to understand Overseas Vietnamese worldwide more.