INDUSTRIES

Vietnamese overseas businesses play key role in efforts to build nation

The Vietnamese business community is present in over 130 countries and territories, with 30 business associations, serving as an important bridge to promote economic and trade relations between Việt Nam and other countries.

 

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Delegates at a Việt Nam-Canada business forum in Hà Nội. VGP Photo

HÀ NỘI Vietnamese overseas business communities play an important role in Việt Nam’s nation-building efforts, heard participants at the business forum: Enhancing Việt Nam-Canada Economic Relations within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), held yesterday. 

Nguyễn Mạnh Đông, deputy chairman of the State Committee for Overseas Vietnamese Affairs, under the Ministry of Foreign Affairs, said Vietnamese overseas business communities have been growing strong in recent years, along with Việt Nam’s rapid economic and trade development.

He said the Vietnamese business community is present in over 130 countries and territories, with 30 business associations, serving as an important bridge to promote economic and trade relations between Việt Nam and other countries.

Attending the forum were representatives from the leadership of the Ministry of Foreign Affairs, the State Committee for Overseas Vietnamese Affairs, central and local government departments, former Consul General of Vietnam in Vancouver – Canada, VCBA leadership, members of associations, as well as entrepreneurs and businesses in the fields of export and construction.

The Vietnamese overseas business community in Canada, in particular, has made important contributions to strengthening Việt Nam-Canada economic cooperation across all fields. For example, the Việt Nam-Canada Business Association (VCBA) has organised numerous trade and investment promotion events to help build stronger trade ties between the two nations. 

He said the forum is an opportunity to network and cooperate, and find ways to unlock trade potential between two member countries of the CPTPP, as well as being a platform to share information between both sides. 

Delegate discussed opportunities to export Vietnamese products to the Canadian and North American markets across numerous fields, including construction, textiles, footwear, furniture, wood products, iron and steel, machinery and electrical equipment.

They said the Southeast Asian economy has so far effectively utilised the CPTPP to accelerate exports to Canada, enjoying major benefits such as the Most Favoured Nation (MFN) and the Generalized System of Preferences (GSP). However, they advised the Vietnamese business community to pay attention to challenges from strict requirements and trade barriers in the Canadian and North American markets.

The forum was jointly organised by the Vietnam-Canada Business Association (VCBA) and the State Committee for Overseas Vietnamese Affairs, under the Ministry of Foreign Affairs.

Theo Vietnamnews