VCCI, U.S. Congressional Delegation Discuss Investment Climate, Private Sector Development

VCCI Vice President Nguyen Quang Vinh at the working session with the U.S. Congressional delegation

The U.S. delegation included senators and representatives from several state governments, and representatives of leading American companies and policy research organizations, including Apple, Exxon, PMI, the Progressive Policy Institute (PPI), and the McKell Institute. Discussions focused on policies supporting private sector development, small and medium-sized enterprises (SMEs), and measures to improve Vietnam's investment and business environment.

Speaking at the meeting, VCCI Vice President Nguyen Quang Vinh said the organization serves as Vietnam's national representative body for the business community, business associations, employers, and business partners.

VCCI currently has nearly 200,000 member enterprises nationwide, including domestic companies, foreign-invested enterprises (FDI), and most of Vietnam's major business associations. International corporations operating in Vietnam, such as Intel, Coca-Cola, Pepsi, and Unilever, are also among VCCI's members.

The VCCI Vice President said that as Vietnam pursues ambitious economic growth targets in the coming years, the government expects the private sector to remain a key driver of the economy. To support this goal, the government regularly engages in dialogue with the business community through VCCI and business associations. These dialogues provide businesses with a channel to raise challenges in production and business activities while proposing recommendations to improve the investment environment and legal framework.

Responding SME support mechanisms, VCCI Vice President Nguyen Quang Vinh said Vietnam has established a dedicated legal framework through the Law on Support for SMEs. In addition, VCCI was among the first organizations to establish a specialized center to support SMEs through training, consulting, and capacity-building programs.

According to the VCCI representative, Vietnam has also drawn on the experience of economies such as Japan, South Korea, and Taiwan (China) in developing SME policies. The SME sector is widely considered a backbone of the economy as it creates significant employment and contributes to economic growth.

The VCCI Vice President also discussed policies to support household businesses in gradually transitioning into formal enterprises. As Vietnamese companies become more integrated into international markets, particularly through exports to major markets such as the U.S., they must increasingly meet requirements related to labor, sustainable development, carbon emissions, and other international standards. Supporting businesses in improving their capacity to meet these requirements will therefore become increasingly important.

At the conclusion of the meeting, both sides welcomed the open discussions on issues of mutual interest. The U.S. delegation expressed their desire to continue receiving updates on Vietnam's business environment. On behalf of VCCI, VCCI Vice President Nguyen Quang Vinh said he hoped both sides would continue exchanges to strengthen mutual understanding and promote cooperation between the Vietnamese business community and U.S. partners.