Francophone businesses urged to boost co-operate in region

Friday, Sep 21, 2018 08:29

The Asia Pacific economic forum is expected to boost startup spirit of Francophone businesses. — Photo Ngoc Quynh

Francophone enterprises in Asia-Pacific will be supported to develop trade in the future, especially start-ups and micro-, small- and medium-sized businesses in the region.

The information was revealed in the first Asia Pacific economic forum for businesses of the Francophone held in Ha Noi on Thursday.

The two-day event is held by the Vietnam Chamber of Commerce and Industry and Organisation of La Francophonie (OIF), with the participation of a large number of international guests and representatives of ministries, researchers and associations.

At the forum, participants discussed issues related to entrepreneurs such as challenges to the development of start-up spirit among female entrepreneurs, solutions to improve and inspire start-up spirit of women, economic co-operation in Asia-Pacific, potential for the development and business strategy for the Africa, small and medium enterprises in the region and the dynamics of the regional economy.

Director of the OIF’s Asia-Pacific office Eric-Normand Thibeault said Francophone countries were implementing economic and structural transformation strategies to better engage in exchanges in the region and the world, tackle hunger and poverty and protect the environment and cultural heritage.

He said the forum would create opportunities for businesses to interact, establish long-term business and investment relationships and establish a network of entrepreneurs in the Asia-Pacific region.

He said many issues needed to be addressed such as positioning the French-speaking countries in the restructuring of global economic and trade governance; economic and trade exchanges were still weak; creating value chains of the Francophone countries in areas of high economic potential and share experiences; and good practices for joint investment and joint ventures.

A survey of 22,000 businesses in 91 countries in 2016 showed the firms which had higher numbers of women would generate a 6 per cent increase in net profit.

Firms with 30 per cent of females in the personnel structure would enjoy a 15 per cent increase in revenue. Women-owned enterprises have advantages such as persistence in the face of difficulties.

To create conditions for women to start businesses, governments and organisations need to be aware of barriers that restrict women and devise appropriate policies to tackle them.

Nguyen Thi Tuyet Minh, chairman of Vietnam Women Entrepreneurs Council, said it’s not easy to start-up successfully, especially for female entrepreneurs.

“Therefore, it requires tremendous efforts of individuals, collectives as well as governments and related organisations to create the environment, favourable conditions and ecosystem to nurture start-up spirit,” said Mai.

“Overcoming the barriers of awareness and thinking will help businesswomen grow, overcome difficulties and reap much success in their field,” she added. — VNS

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