Wednesday, 17 Jan 2018

APEC 2017: Vietnam Business Summit to be held for the first time

Updated at Tuesday, 10 Oct 2017, 12:24
The Hanoitimes - In addition to the Vietnam Business Forum (VBF), which focus on discussing policies, the Vietnam Business Summit (VBS) is expected to be an platform for enterprises in the search of business opportunities.
Activities of the business community are expected to doulbe the added value for Vietnam through trade and investment promotion during the APEC (Asian Pacific Economic Cooperation) Economic Leaders’ Week, which will be held in Da Nang early next month. It is the statement of the Chairman of Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc in the press conference of the VCCI announcing business events during the APEC Economic Leaders’ Week from November 6 – 11.

Chairman of the APEC Business Advisory Council (ABAC) Hoang Van Dung said, recently the council has sumitted to the Vietnamese President recommendations of the APEC’s business community for the APEC Economic Leaders’ Week. As such, 20 recommendations will focus on 4 major topics: Integration in regional economy; regional connection with regard to policies, infrastructure and people; sustainable, creative and inclusive development; supporting small, medium and micro enterprises, as well as women taking part in economic activities. 

Mr. Vu Tien Loc said, during the APEC Economic Leaders’ Week, enterprises’ activities are one of the important events. In the upcoming weeks, in addition to traditional events, there wil be more event initiated by Vietnam. “This will be an platform for APEC Economic Leaders, leading businesses and driving forces of the APEC economy to discuss and share experiences” – Mr. Loc said. It is expected that around 1,200 representatives will attend these events. With regard to the initiative of Vietnam VBS, it will be integrated in the trade show promotion of 63 provinces/cities. As such, it will focus on investment and business opportunities in Vietnam. This is the first VBS to be held and is expected to be a traditional events for the next APEC events. 

In addition to the above three events, discussions in the sidelines between enterprises and APEC leaders will also be held. “As such, activities of enterprises in APEC will focus on two main issues: discussion to contribute to the policies supporting trade and business. It is important to contribute to form policies, but the APEC Economic Leaders’ Week will be an opportunity for Vietnam to promote trade and business” – The Chairman of VCCI said.

One of the focus during the VBS is to facilitate market access for women-led micro, small and medium enterprises (MSMEs). For example in China, there are currently 25% enterprises founded by women, but in sectors related to e-commerce, there are 55% women-led enterprises. In the context of uncertainty global economy and industrial revolution 4.0, the presence of e-commerce will helps to women-led MSMEs to be actively involved in the world economy, expanding business network and participate in the global value chains. It is expected that women-led MSMEs will be the new driving force to transform the digital economy. 

According to Mr. Loc, this APEC Economic Leaders’ Week is very different to previous events with the new world circumstances. Specifically, it is the increasing trend of protectionism, the presence of industrial revolution 4.0, changes in trade and investment activities along with the relocation of production lines to developed countries. 

The Chairman of VCCI shared his belief that with the high potential for development of Vietnamese MSMEs, in the context of globalization, anyone can access customers in the world, when sellers at home can sell their products to customers in Japan or the US. 
Nguyen Tung
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