Opportunities for Vietnam Businesses at APEC 2017

Vietnam officially assumed the hosting of the Asia - Pacific Economic Cooperation (APEC) Forum 2017.

Priorities of APEC Vietnam 2017 will focus on four orientations: Promoting sustainable, innovative and inclusive growth; fostering far-reaching regional integration and connectivity; supporting Micro Small and Medium Enterprises (MSME) to enhance competitiveness, innovation and participation in global value chains on the threshold of the digital age; and enhancing food security and sustainable agriculture given the unprecedented impacts of climate change.

Business cooperation is of great significance in APEC. The Government of Vietnam highly appreciates the engagement of the business community in dialogues with government agencies, as well as enhanced cooperation in trade and investment with APEC partners and sees it one of highlights at APEC Vietnam 2017.

Dr Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI) and Chairman for CEO Summit 2017, said this is a good chance for the Vietnamese business community to grasp investment and business trends and international integration. This is also an opportunity to improve the cooperation climate in the region, gain experience and particularly approach trading and investment partners from APEC economies.

He added that VCCI has been assigned by the Government to chair five business-related events and activities.

APEC Start-up Forum will be held on the sidelines of the Small and Medium Enterprises Ministerial Meeting (SMEMM) in September 2017 in Ho Chi Minh City with the aim of inspiring APEC entrepreneurship, promoting innovative start-ups and strengthening business ethics. The forum is expected to attract 300 delegates from Vietnam and APEC economies. At the same time, the event will be a meeting place for start-up leaders in the region and contribute to stimulating entrepreneurship in Vietnam.

APEC Business Advisory Council Meeting 4 (ABAC 4) is scheduled to take place in Danang City from November 4 to 7, 2017, expected to attract 250-300 delegates which are ABAC members - leading business leaders in the region. He added that the meeting will ratify annual reports and recommendations of ABAC to be submitted to APEC Economic Leaders Summit and prepare contents for the dialogue between APEC economic leaders with ABAC. Major contents will focus on regional economic integration, trade and investment liberalisation with priority of Vietnam placed on fostering regional connectivity; strengthening APEC connectivity in three aspects: hard connectivity, institutional connectivity, human connectivity; innovation, creativity, corporate competitiveness ; corporate social responsibility, and response to global issues.In addition, the meeting will discuss an enabling environment for businesses, especially small and medium-sized ones, to engage in global supply chains, have better access to capital sources, new technological achievements and innovation, borderless e-commerce and digital connectivity to ensure sustainable, innovative and inclusive growth.

Vietnam Trade and Investment Promotion Forum will be opened in the APEC Economic Leaders' Week. The forum will be a good opportunity for potential international investors to learn about reform determinations new economic policies of Vietnam and a place for local businesses to approach potential international customers.

With the theme "Vietnam - An open business environment with new generation FTAs", the forum is expected to be organised on November 8, 2017 in Danang City and attended by 800 domestic and international participants, including authorities of Vietnam, domestic and international scholars and economists, Vietnamese businesses and foreign investors.

On the sidelines of the forum, the Exhibition on "Vietnam - Destination for worldwide investors" will be opened to introduce investment policies and projects of Vietnamese localities to potential investors.

Mr Loc said APEC CEO Summit 2017 is set to take place from November 8 to 10, 2017 in Danang City. The summit is expected to draw the attendance of 1,000 business leaders from APEC member economies and the world.

In the light of the theme "Creating New Dynamism, Fostering a Shared Future", the summit will feature speeches and presentations by APEC economic leaders, business leaders and top economists.

APEC CEO Summit 2017 is the most important event for APEC businesses in general and Vietnam businesses in particular. Attending this year's conference will be leaders from world-leading groups from major economies such as the US, China, Russia, Japan and South Korea. In the framework of the summit, apart from exchange and discussion sessions, a series of business-to-business meetings will also be hosted.

Dialogue between APEC Economic Leaders and ABAC Members will be held within the framework of the APEC Economic Leaders' Week in Danang. The dialogue will be attended by leaders from 21 APEC member economies and 63 ABAC members. This will be a chance for ABAC to represent the business community to submit the Annual Report and ABAC recommendations to APEC economic leaders aimed at improving the business environment of the region. This will also be an opportunity for APEC economic leaders to discuss with the business community measures to promote growth, trade and investment liberalisation.

"Business activities in APEC Vietnam 2017 will be direct opportunities for Vietnamese enterprises to raise their voice to regional cooperation, promote their images and products to APEC entrepreneurs, directly approach big APEC corporations and investors, and enhance connectivity to expand trade and investment cooperation. These will also be opportunities for Vietnam to introduce the most updated information about its business environment and potential for trade and investment cooperation to international businesses," said VCCI President Loc.

(Source: VCCI)