Overseas Vietnamese businesses contribute to development, says deputy PM

More than 300 overseas Vietnamese businesspeople from 25 countries and territories met in HCM City yesterday to take part in the Business Association of Overseas Vietnamese’s (BAOOV) third congress.— Photo enternews.vn

“The Business Association of Overseas Vietnamese has created an international network to share information and mobilise resources for developing countries,” Deputy Prime Minister Truong Hoa Binh said in his opening speech.

“I hope the association will continue to be a representative for legal rights and benefits for overseas Vietnamese in foreign nations,” he said. “The association should promote assistance and increase co-operation in the global value chain and act as a bridge to improve friendly relations between Viet Nam and international friends.”

The deputy PM also instructed industries and localities to create the most favourable conditions for overseas Vietnamese to do business.

“The BAOOV has recently expanded many commissions in different countries and supported trade promotions, especially in Australia, the US, Canada and Thailand,” said Vu Hong Nam, deputy minister of Foreign Affairs and the chairman of the State Committee for Overseas Vietnamese affairs.

Vu Tien Loc, chairman of the Viet Nam Chamber of Commerce and Industry, said: “We are living in a time of international integration, in a time of the fourth industrial revolution and in a time of super connections.”

“Vietnamese businesspeople around the world should connect with each other and with the country,” he added.

“Overseas Vietnamese businesspeople can improve the Vietnamese business environment by effective State management and corporate governance for administrative reform in Viet Nam, as well as share business knowledge and experience with the local business community,” he added.

The BAOOV was established in 2009 with the aim to share information about investment opportunities in Viet Nam and other countries among overseas Vietnamese business communities.

It also aims to attract resources on finance, governance, trade, investment and technology.

The association has created a favourable environment for overseas Vietnamese businesses, provided information about international and domestic projects and investment opportunities, given effective advice for members about Vietnamese laws, administrative procedures and policies of the State.

There are around 4.5 million Vietnamese people living in 100 nations and territories around the world. The overseas Vietnamese business community includes at least 6,000 members who are connected to Viet Nam via technology and business fields.

Last year, remittances to Viet Nam totalled more than US$14 billion and for the first five months of the year, the figure was $7 billion. — VNS