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VCCI News

Last updated: Friday, July 20, 2018

 

CACCI Connecting Vietnamese and Asia-Pacific Enterprises

Posted: Tuesday, May 08, 2018


Recently, in Hanoi, Vietnam Chamber of Commerce and Industry (VCCI) has organised a business meeting with members of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI). The event aims to connect and facilitate enterprises of both sides to promote, seek and exploit more potential trade and investment opportunities.

According to Dr Doan Duy Khuong, Vice President of VCCI, the relations and cooperation between VCCI and CACCI is of enormous importance, particularly the connection among Vietnamese enterprises and those of countries in the region, in the current context of international economic integration becoming deeper and more extensive.

Mr Khuong also emphasised the role of the Asia-Pacific, regarded as the largest region world-wide with a convergence of many powerful countries such as Japan, China, South Korea, Russia and India. Since the signing of Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), cooperation with big economies and markets has seemed unlimited, helping Vietnamese businesses promote import-export activities, approach advanced production technology, and improve management and administration qualification. Thus, the competitiveness of enterprises in particular and the whole economy in general has been improved.

In 2017, Vietnam's economy achieved many successes, especially GDP growth rate reaching approximately seven per cent, he said. This is an important premise enabling Vietnam to attract more investment from its partner countries, as well as prosperous regions world-wide, including CACCI. Vietnam is also a country with advantages in a cheap labour force and large population. Therefore, this will be one of the strengths of Vietnam in cooperating with CACCI businesses, particularly in the textile and garment field.

Mr Jemal Inaishvili, President of CACCI mentioned that globalisation is taking place strongly throughout the world arena, creating fierce new competition related to many sensitive economic issues. Protectionism is being pushed in the United States and in some Asian countries. If countries are not connected, it will be very difficult to survive in this competition "big fish swallows small fish". So, linking chambers of commerce and businesses in the Asia-Pacific region will contribute to increasing strength and increasing opportunities for business cooperation. This will help economies in the region develop sustainably, improving competitiveness and GDP growth.

"In recent time, Vietnam has also emerged as a nation with an impressive GDP growth rate, and party to many bilateral and multilateral new generation free trade agreements. In addition, the Vietnam Government also consistently focuses its management to create the most favourable conditions for activities of the domestic and international business community by creating a transparent and equitable trade investment environment, and minimising administrative procedures that cause trouble for enterprises. This is one of the prerequisites to create confidence among domestic investors to feel secure and intensify business in Vietnam," said Mr Jermal.

Mr Jemal Inaishvili highly appreciated the role of VCCI in actively connecting, exchanging information and cooperating with chambers of commerce of CACCI members such as Taiwan, Nepal, New Zealand and Australia. It is the active participation of VCCI that will create new cooperation steps of deep and extensive quality in various fields for the members.

He also expressed his wish to invite VCCI and a Vietnam business delegation to participate in the CACCI Summit on November 23-24 this year in Istanbul, Turkey.

CACCI is currently an Association of Chambers of Commerce and Industry of 24 countries in Asia-Pacific region. This is a non-governmental organisation founded in 1966. CACCI acts as a forum to promote trade and investment cooperation among countries and promote economic development in the region.
In the framework of this meeting, CACCI has the participation of 30 leaders of groups, big enterprises of its member countries operating in various fields such as textiles, garments, cosmetics, consumables, distribution, food processing, pharmaceuticals, chemicals, industrial products distribution, construction, information technology and tourism from Australia, India, Nepal, Taiwan (China).


Anh Phuong









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