Vietnam Generation Network Launched

11:02:41 AM | 2/15/2019

On February 11, 2019, the Vietnam Chamber of Commerce and Industry (VCCI) hosted the New Year Meeting and the Launching Ceremony of Vietnam Generation Network (VNGN).

VCCI in close partnership with the business community
Addressing the event, VCCI President Vu Tien Loc said that we have experienced a vibrant year in 2018 with gross domestic product (GDP) growth reaching 7.08%, the highest in 10 years, and growth quality picking up. Also, in 2018, 130,000 new enterprises were established and the business community has become more flexibly adapted to international integration.

"We are proud that VCCI is part of this success, evidenced by its effort to promote institutional reform," VCCI President emphasized.

One major event hosted and coordinated by VCCI in 2018 was the GMS Business Summit on the sidelines of the GMS 6 Summit and the 10th Cambodia - Laos - Vietnam Summit on Development Triangle Area (CLV 10). The event is a prominent initiative of Vietnam as the host of the GMS Business Summit to enhance business - government dialogues and connect businesses in the region and in the world. Themed "Seeking new economic growth motivations", the summit attracted more than 2,000 businesses inside and outside the GMS region, representatives from nearly 40 Vietnamese provinces and cities, and many localities in member countries.

The Vietnam Business Summit (VBS) 2018 was also a highlight of VCCI, highly appreciated by domestic and foreign business communities. The meeting was part of the World Economic Forum on ASEAN (WEF ASEAN) 2018. The forum was attended by Vietnamese Prime Minister Nguyen Xuan Phuc, WEF President Borge Brende, ministers, local leaders, international organizations, scholars and more than 1,300 delegates, including over 500 foreign delegates including prestigious WEF members, business delegations from the United States, South Korea, China, India, Chile, Oman and others together with foreign business leaders working in Vietnam, representatives from embassies, diplomatic-economic agencies and international organizations in Vietnam.

According to the VCCI President, Vietnam expects a new FDI wave in 2019, but the mainstream for sustainable development is still nationalistic businesses and domestic private businesses because they are the central driver of economic development.

Vietnam Generation Network debuts
At the event, VCCI also decided to rename the Vietnam Entrepreneur and Family Council to the Vietnam Family Business Council. VCCI also decided to establish the Generation Club directly under the Vietnam Family Business Council and set up the National Generation Network under the Central Council of Vietnam Business Associations.

Quoting President Ho Chi Minh, Dr. Loc affirmed that nursing the revolutionary generation is an important task so as it is to business generation network given in this new context.

Speaking at the event, Mr. Nguyen Duy Ninh, Interim Chairman of the Vietnam Generation Club under the Vietnam Family Business Council, affirmed that the establishment of the Vietnam Generation Network is particularly significant because the family business community is a typical representative of private businesses.

“Family businesses are the stem cells of the private business sector, but the transfer of business rights between generations has never been an easy task. Therefore, forming the Vietnam Generation Network not only creates a playground for next generations but also supports the successful handover process,” Ninh asserted.