Overseas Vietnamese Representatives- Information Bridges for Businesses

 

At the meeting, VCCI President Loc said VCCI is now supporting businesses in various matters, including governance, technology, financial capacity and access to information. Diplomatic missions of Vietnam can support businesses to access advanced technologies (currently Israel is considered a potential market for sophisticated technologies and many other countries also have suitable modern technology for the capacity of Vietnamese enterprises); boost exports and investments, and seek new markets to increase trade.

 

He added that the Government assigned VCCI to work with the Ministry of Industry and Trade and the Ministry of Foreign Affairs to build "Investment and trade promotion scheme with strategic markets" and speed up research and cooperation with other chambers of commerce, trade offices and embassies to have market information in target countries.

 

The Government requires specific information for every potential commodity that Vietnam can cooperates rather than general information. Currently, more than 400 business associations representative of various industries and localities in the country are playing very important roles in promoting trade, investment and cooperation. Besides, VCCI has a mechanism for cooperating with chambers of commerce in other countries, and establishing mixed and joint business forums.

 

"Ambassadors can connect with business associations via VCCI to understand actual production capacity and technology to have reasonable recommendations. Every piece of information supplied by diplomatic missions is valuable to business associations and VCCI as well. We are ready to have cooperation agreement", Dr Loc added.

 

At the meeting, an official from the Vietnam Banks Association suggested creating a permanent communication channel with ambassadors to bridge trade promotion and partner looking in foreign countries. Currently, overseas operations of Vietnamese banks are humble while they are gradually accelerating restructuring. “We need experience from developed countries to create joint venture and development cooperation” he added.

 

Mr Mac Quoc Anh, Vice President and General Secretary of Hanoi SME Association, said that small and medium-sized enterprises (SMEs) account for more than 90 percent of companies in operation and have important roles in the economy but up to 80 percent of them are carrying out passive integration and yet to participate in global value chains. “Therefore, we desperately hope ambassadors will help SMEs learn development experience and models as well as supporting industrial development models from advanced countries; help SMEs engage deeper into global value chains and connect with foreign SMEs,” he stressed.

 

Before very practical requests from businesses, newly appointed Vietnamese Ambassador to Turkey Pham Anh Tuan affirmed that ambassadors always want businesses to be more active in putting forth specific and practical requests with specific purposes to have more helpful assistances. Ambassadors will take note of opinions from businesses and serve as an "antenna array" to transmit information to businesses.

Mr Cao Tran Quoc Hai, Vietnamese Ambassador to Israel, emphasised that companies with strengths and quality, competitive products but they cannot cooperate with those with demands they have because they lack two-way information. Currently, business associations usually lead delegations to foreign countries to visit, learn experience and seek business cooperation. However, Mr Hai suggested a better method that business associations need to organise more effective business conferences and cooperation networking. For its part, VCCI should publish a list of persons in charge of trade promotion for specific industries and associations. They must have necessary personal contact information like telephone number and email address on the list.

 

Mr Do Hoang Long, newly appointed Vietnamese Ambassador to Egypt, said that the investment environment of Vietnam is now quite friendly to investors and Vietnam has signed a lot of free trade agreements (FTAs) and expected to sign the much-awaited TPP soon. These are very favourable conditions for the business. The Ministry of Foreign Affairs has opened an online economic network where companies can post export, import, investment and business demands to seek counterparts. Up to 98 Vietnamese representative agencies across the world will help them.

 

Mr Dang Minh Khoi, Vietnamese Ambassador to China, also suggested that VCCI gather opinions from businesses and send them to right missions for timely assistance. He noted that “It is important that how to connect. We stand ready and are willing to support and bridge Vietnamese businesses with the outside world.”