Supporting Vietnamese Enterprises in International Integration

The overview of the meeting between heads of Vietnamese representative missions abroad and business associations 

Speaking at the meeting, Mr. Pham Tan Cong, VCCI President, informed that Vietnam currently has about 900,000 active enterprises. Many Vietnamese businesses and entrepreneurs have made breakthroughs in production and business operations, reaching out to the international market.

According to the 10-year socio-economic development strategy 2021-2030, Vietnam targets to have at least two million enterprises with the private sector making up 60-65% of the gross domestic product (GDP) by 2030.

In order to support businesses in operation and international integration, VCCI President Pham Tan Cong recommended that the heads of Vietnamese representative missions abroad continue to support the business community in such areas as promoting trade and investment, expanding markets; providing forecasts for socio-economic situations, assisting in handling international economic disputes, protecting intellectual property rights, and transferring technology in Vietnam as well as abroad.

Specifically in trade promotion, Vietnamese ambassadors and consuls-general play an important role in promoting products abroad; providing information about the market of the foreign country; introducing potential partners to expand the market; assisting in forecasting the socio-economic situation of the foreign country and handling the international economic disputes, protecting intellectual property rights and transferring technology in Vietnam and abroad.

VCCI President Pham Tan Cong addresses the event

Regarding investment promotion, the Vietnamese business community wished to approach and connect with partners seeking investment opportunities in Vietnam, participate in promotion seminars, and support foreign business delegations in surveying the investment environment in Vietnam, especially in a number of fields such as industrial production, renewable energy and high-tech agriculture.

Highly appreciating the meeting, Deputy Minister of Foreign Affairs, Mr. Pham Quang Hieu, said: “Implementing the Party Secretariat’s Directive 15-CT/TW dated August 10, 2022 on economic diplomacy for national development by 2030, the Ministry of Foreign Affairs considers diplomatic tasks serving economic development as key tasks. Therefore, before the heads of representative missions’ tenures began, the Ministry of Foreign Affairs had organized working trips to create a bridge between the delegation and localities as well as business associations in order to implement the above tasks.

Mr. Pham Quang Hieu also suggested that the business community be more proactive in understanding the market through connections to VCCI as well as Vietnam’s representative missions and business systems abroad, to gain access to potential markets such as the Middle East-Africa, Central and South America.

Delegates at the event

At the meeting, industry associations such as the textile association and agricultural products association highlighted some difficulties and obstacles that businesses are currently facing, as well as recommendations for solutions. Associations and businesses wished Vietnamese representative missions abroad to act as a bridge connecting Vietnamese businesses and international partners; and introduce importers and Vietnam distribution systems in the local market.

In response, the heads of Vietnamese representative missions abroad for the term 2023-2026 shared with the business community information about the markets they are about to be in charge of, and exchanged some experiences in coordination between Vietnamese representative missions abroad.