VCCI Effectively Supports Businesses by Promoting Foreign Trade & Investment

3:29:00 PM | 4/19/2011

In its 48 years of development, Vietnam Chamber of Commerce and Industry (VCCI) has made unprecedented progress. Especially since 1988, with 20 years of renovation, progress has been made both in quantity and quality. Beginning with just 80 members, VCCI has now nearly 10,000 business members. VCCI has put particular focus on assisting businesses in international cooperation, trade and investment promotion and economic integration.
Effective promotion programmes
During the past years, as representative of the Vietnamese business community, VCCI has participated in international and regional conferences. In 2010, the Chamber attended ASEAN-China free trade forum, ABAC Meeting 1, 2, 3 and 4, China Tourism International Forum, WEF East Asia 2010 in Ho Chi Minh City, ASEAN ABAC meetings, and ASEAN Business Award Committee Meeting 2010.
During the visits of State and Party leaders, VCCI met with foreign Chambers and Associations to coordinate activities supporting business communities and strengthen cooperation between VCCI and international organizations.
In 2010, VCCI received 368 delegations with nearly 15,000 entrepreneurs seeking business opportunities in Vietnam(18.7 percent more than 2009) and organized 110 delegations with 5,403 Vietnamese businesspersons accompanying State and Party leaders visiting other countries, such as National Assembly Chairman Nguyen Phu Trong visiting India and Indonesia; President Nguyen Minh Triet visiting Saudi Arabia, Tunisia, Algeria, Belarus, Switzerland, Finland and attending the UN General Assembly; Prime Minister Nguyen Tan Dung visiting Shanghai International Exhibition, Zhejang, Jangsu; and Deputy Prime Minister Hoang Trung Hai visiting Bulgaria and Italy. Many important economic agreements have been signed in connection with these visits.
VCCI has organized 589 conferences, seminars, workshops and business meetings between Vietnamese and foreign businesses with over 87,000 participants (17.8 percent more than 2009) to assist businesses in market expansion, seeking partners and business opportunities. It also organized 19 exhibitions in Vietnam with the participation of 4,420 businesses (72.7 percent more than 2009), and 6 trade fairs abroad with the participation of 195 businesses (25 percent less than 2009).
Concerning promotion activities, VCCI has coordinated with concerned authorities and organized Vietnam Day in India, as well as Vietnam Days in China and Russia on the occasion of the 60th anniversary of diplomatic relations. Those events aimed at developing strategic partnership and all-round cooperation – political, diplomatic, economic and cultural – between Vietnam and those countries and promoting the image of Vietnam’s land and people, products, businesses and investment environment.
 VCCI continues to expand Vietnam Business Forums with other countries, considering it an effective channel to promote the exchange of market information. For instance, the Vietnam-China Business Forum has introduced many business opportunities for Vietnamese entrepreneurs. In 2010, the Forum introduced Guangzhou Fair 107, sent a business mission to Shiamen Construction Fair, organized the Vietnam-China Round Table on energy and mineral cooperation, and published the book “Agreement on non-double taxation between Vietnam and Hong Kong and against evasion of income tax.” The Prime Minister has extended the forum’s period of activities to 2015.
For Africa, VCCI has organized the Vietnam-Egypt, Vietnam-Saudi Arabia, and Vietnam-Africa Business Forums, introducing Vietnamese products in the framework of the 2nd Vietnam-Africa International Seminar and planning to develop it into a Vietnam-Africa-Middle East business forum, organized the seminars “Nigeria and opportunities for Vietnamese businesses” and “Vietnam-South Africa business opportunities” in Nha Trang.
Though newly founded, Vietnam-Russia Business Council has functioned most effectively. In recent years, it has established Vietnam-Russia IT portal, organized the meeting between Vietnamese and Russian Presidents with Vietnamese and Russian businesses, and Russia-ASEAN dialogue on the occasion of ASEAN BIS 2010, and published brochures on Vietnam-Russia Business Council in Russian and English, and forms of economic cooperation for small and medium enterprises.
Regarding key markets: the EU, US and Japan, VCCI in conjunction with concerned authorities have organized Vietnam-EU, Vietnam-Japan, and Vietnam-US business forums. In cooperation with Eurocham, VCCI has organized the round table on “Improvement of Vietnam Business Environment: Commercial Issues and Recommendations,” and with the Czech Embassy organized the Vietnam-Czech business forum with the signing of economic agreements worth over US$100 million.
For its part, the Vietnam-Japan forum has organized seminars on trade promotion with Osaka, seminars in Hanoi on Handicraft export to Japan and in Phan Thiet on Japanese potential and investment opportunities, training courses by Sumitomo on business management in global groups, and business meeting in Ho Chi Minh City between Vietnamese businesses and Nippon Keidanren.
The Vietnam-US forum has sponsored its Inaugural Ceremony and publication of booklets introducing members of the forum, Vietnam-US e-commerce portal, presentation by Professor Tom Cannon on “Development strategy in global crisis and sustainable development for Vietnamese businesses,” and training courses in Da Nang on business management and export to the American market.Those forums have been warmly appreciated and helped the direct exchange of information between Vietnamese and foreign businesses.
Business forum activities promoted
In 2011, though the world economy shows signs of recovery, uncertainties remain which could be harmful for Vietnam. In Vietnam, the stabilization of the macro-economy (inflation, interest rate, exchange rate, energy) remains a major issue. Vietnamese exporters are faced with increasing difficulties such as trade barriers, quality and diversification of export products, less attraction for foreign investment (direct and indirect), and difficult access to credit due to high interest rates. Consequently, business community assistance is ever larger and more complicated, posing more challenges for VCCI.
In 2011, VCCI will continue the advisory role to the Party and State on law making, organize the implementation of Resolution on Entrepreneurs when approved by the Politburo, and draft the VCCI plan of action and application of the Resolution by businesses.
Those are important tasks for VCCI in 2011 and the following years.
VCCI will also advise the Party and State on law and policy regarding business environment, especially in provinces, continue the dialogue between businesses and concerned authorities and activities in the framework of APEC-ABAC and ASEAN-BAC, promote the implementation of bilateral agreements and commitments in economic integration with WTO, APEC, ASEAN and ASEM in its capacity as representative of the Vietnamese community as the region increases cooperation with international organizations.
To promote activities of Business Forums and Councils already established with China, Africa, Middle East, Japan, EU, US, Russia and ASEAN, in 2011 VCCI will establish and activate Vietnam-India Business Council, Vietnam-GMS Business Forum, and increase activities in other countries and regions to promote business cooperation in those markets.
However, to ensure high efficiency in trade promotion (market survey, exhibition and trade fairs, business meetings, conferences, seminars) VCCI should operate with high professionalism and quality to meet the diverse business demands, improving the image of the Vietnamese business and investment environment. In 2011, VCCI will continue the standardization of business mission accompanying State leaders visiting foreign countries. VCCI will try to satisfy businesses with market information and business opportunities and partners. In this way, VCCI can be an even more efficient channel for Vietnamese and foreign businesses.
 Quynh Anh