Mekong Delta firms advised to foster connectivity

Delegations from the 21 APEC economies, including representatives of enterprises, organisations and institutions, shared experience and put forth numerous proposals.  Most of them stressed the role of financial resources, public-private partnership and application of digital technologies in supporting business development, promoting innovation, creativity and trade in goods and services, and investing in long-term infrastructure projects in the future. Speaking at the APEC-Canada Growing Business Partnership Symposium (ABACx), ABAC Vietnam Chairman Hoang Van Dung emphasised the massive impacts of the Fourth Industrial Revolution, which will generate opportunities for businesses, particularly micro, small- and medium-sized enterprises (MSMEs), to engage in global trade, increase their competitiveness, innovate and access markets.  The Industry 4.0 will also help them optimise comparative advantages, deal with trade barriers and produce goods at lower expenses.  However, there are obstacles hampering MSMEs’ access to those chances, he noted. Therefore, ABAC calls for the building of a progressive e-commerce policy framework across the APEC region to boost businesses’ access to and application of digital technologies and help them gain comprehensive access to databases in the region and the world. Dung added ABAC also wants to set up programmes on building MSMEs’ online and offline e-commerce capacity. At a roundtable discussion on expanding trans-Pacific infrastructure investment opportunities, participants said many governments are facing financial problems while the infrastructure investment demand is forecast to rise to about US$5 trillion each year from now to 2030.  The Asian Development Bank (ADB) estimates…... [read more]

ABAC Vietnam Chairman Hoang Van Dung (Photo: VNA) Toronto (VNA) – Participants in the third meeting of the APEC Business Advisory Council (ABAC III) took part in various roundtable discussions and symposiums on July 25, the event’s second working day, focusing on finance and business development in the era of innovation and digitalisation. Delegations from the 21 APEC economies, including representatives of enterprises, organisations and institutions, shared experience and put forth numerous proposals.  Most of them stressed the role of financial resources, public-private partnership and application of digital technologies in supporting business development, promoting innovation, creativity and trade in goods and services, and investing in long-term infrastructure projects in the future. Speaking at the APEC-Canada Growing Business Partnership Symposium (ABACx), ABAC Vietnam Chairman Hoang Van Dung emphasised the massive impacts of the Fourth Industrial Revolution, which will generate opportunities for businesses, particularly micro, small- and medium-sized enterprises (MSMEs), to engage in global trade, increase their competitiveness, innovate and access markets. The Industry 4.0 will also help them optimise comparative advantages, deal with trade barriers and produce goods at lower expenses.  However, there are obstacles hampering MSMEs’ access to those chances, he noted. Therefore, ABAC calls for the building of a progressive e-commerce policy framework across the APEC region to boost businesses’ access to and application of digital technologies and help them gain comprehensive access to databases in the region and the world. Dung added ABAC also wants to set up programmes on…... [read more]

Delegations from the 21 APEC economies, including representatives of enterprises, organisations and institutions, shared experience and put forth numerous proposals. Most of them stressed the role of financial resources, public-private partnership and application of digital technologies in supporting business development, promoting innovation, creativity and trade in goods and services, and investing in long-term infrastructure projects in the future.  Delegates at the meeting Speaking at the APEC-Canada Growing Business Partnership Symposium (ABACx), ABAC Vietnam Chairman Hoang Van Dung emphasised the massive impacts of the Fourth Industrial Revolution, which will generate opportunities for businesses, particularly micro, small- and medium-sized enterprises (MSMEs), to engage in global trade, increase their competitiveness, innovate and access markets. The Industry 4.0 will also help them optimise comparative advantages, deal with trade barriers and produce goods at lower expenses. However, there are obstacles hampering MSMEs’ access to those chances, he noted. Therefore, ABAC calls for the building of a progressive e-commerce policy framework across the APEC region to boost businesses’ access to and application of digital technologies and help them gain comprehensive access to databases in the region and the world. Dung added ABAC also wants to set up programs on building MSMEs’ online and offline e-commerce capacity. At a roundtable discussion on expanding trans-Pacific infrastructure investment opportunities, participants said many governments are facing financial problems while the infrastructure investment demand is forecast to rise to about 5 trillion USD each year from now to 2030. The Asian…... [read more]

NDO/VNA – Participants in the third meeting of the APEC Business Advisory Council (ABAC III) took part in various roundtable discussions and symposiums, on July 25, the event’s second working day, focusing on finance and business development in the era of innovation and digitalisation. Delegations from the 21 APEC economies, including representatives of enterprises, organisations and institutions, shared their experience and put forth numerous proposals. Many of them stressed the role of financial resources, public-private partnerships and the application of digital technologies in supporting business development, promoting innovation, creativity and trade in goods and services, and investing in long-term infrastructure projects in the future. Speaking at the APEC-Canada Growing Business Partnership Symposium (ABACx), ABAC Vietnam Chairman Hoang Van Dung emphasised the massive impact of the Fourth Industrial Revolution, which will generate opportunities for businesses, particularly micro, small- and medium-sized enterprises (MSMEs), to engage in global trade, increase their competitiveness, innovate and access markets. The Industry 4.0 will also help them optimise their comparative advantages, deal with trade barriers and produce goods at a lower expense. However, there are obstacles hampering MSMEs’ access to those chances, he noted. Therefore, ABAC calls for the construction of a progressive e-commerce policy framework across the APEC region to boost businesses’ access to and application of digital technologies and help them gain comprehensive access to databases in the region and the world. Dung added that ABAC also wants to set up programmes on building MSMEs’ online and offline e-commerce capacity. At a roundtable discussion on…... [read more]

As Vietnam boosts its industrial capacity and modernises, a critical need for new digital technology presents itself. Industry 4.0 will have a significant positive impact on local firms, and they can expect comprehensive, ongoing support from Siemens. Thanh Dat reports. As Industry 4.0 sweeps the globe, firms who do not embrace the new paradigm will fall behind Martin Hoppe, first counselor of Economic Co-operation and Development at the German Embassy in Vietnam, was pleased with the Siemens solutions showcased at the “Digital enterprise – on the way to Industry 4.0” conference in Hanoi last week. “I am happy that Siemens has presented us with their ideas of what Industry 4.0 can do. Trust me, I am very curious myself,” Hoppe said. The event was organised by Vietnam’s Ministry of Industry and Trade (MoIT), the German Embassy in Vietnam, Siemens, and German Industry and Commerce Vietnam. Nearly 200 people attended the event, including senior government policy and decision-makers, business leaders, and industry specialists. “Digital changes everything,” Raimund Klein, executive vice president of Digital Factory and Process Industry and Drive of Siemens Asia, said during his presentation. Digital can have a remarkable impact on life, travel, communication, and markets. In the long-term, enterprises will likely face woes if they fail to embrace digital. “That will present fierce competition,” Klein said, referring to the rise of Industry 4.0. According to Hoppe, Industry 4.0 is another…... [read more]

The country joined the WEF in 1989, and senior leaders of the country have attended both the Davos meeting and the WEF on East Asia. WEF Managing Director Philipp Roesler visited Vietnam in 2014, 2015 and 2016. Recently, Vietnam has engaged in activities of the WEF on East Asia. In 2012-2014, Prime Minister Nguyen Tan Dung attended the WEF on East Asia in Thailand, Myanmar and the Philippines. The country hosted the WEF on East Asia in 2010 with the participation of about 450 delegates. On October 25, 2016, Vietnam coordinated with the WEF to hold the first WEF on Mekong Region to introduce the Mekong sub-region to world leading companies, on the occasion of the eighth Cambodia-Laos-Myanmar-Vietnam Cooperation Summit and the seventh Ayeyawwady-Chao Phraya-Mekong Economic Cooperation Strategy Summit. Vietnam and the WEF have also shared close ties in agriculture, as the country is one of the key partners of the forum within the framework of the “new vision for agriculture” initiative. The country’s Minister of Industry and Trade has been serving in the coordination committee of the WEF’s project on the future of production system since 2016 and is expected to join the ASEAN Regional Strategy Group in 2017. Currently, 11 Vietnamese major enterprises are members of the WEF, including military-run Viettel Group, FPT, VinGroup, VinaCapital, VNPT and Vietcombank. Prime Minister Nguyen Xuan Phuc’s attendance at the WEF annual meeting in Davos from January 17-21 is a chance to introduce Vietnam’s economic prospects and promote the APEC Year that…... [read more]

There will be five events within the framework of APEC 2017 to connect companies to find trade and investment opportunities, as announced by the Vietnam Chamber of Commerce and Industry at a press conference on January 12. 1. APEC Startups Forum will be held on the sidelines of the Small and Medium Enterprises Ministerial Meeting in September 2017 in Ho Chi Minh City. The purpose is to encourage entrepreneurship in the APEC. The event expects to welcome about 300 leaders of startups from Vietnam and other APEC countries. 2. APEC Business Advisory Council 4 (ABAC 4) will meet from November 4 to 7 in Danang. The meeting will see the participation of 250-300 leaders of companies in the region. ABAC 4 is going to ratify the annual ABAC report and the proposals of ABAC to APEC economic leaders and prepare the content for the dialogue between APEC economic leaders and ABAC. 3. The forum on promoting trade and investment with Vietnam will be held by VCCI on November 8 in Danang, during the APEC Economic Leaders’ Week. The forum will be a chance for international investors to get to know Vietnam and its new policies as well as to meet companies. There will be about 800 participants hailing from Vietnamese government agencies, leaders of localities, and companies from Vietnam and the APEC. The “Vietnam the destination for international investors” expo will be the venue for localities to introduce incentives for investors and projects calling for investment. 4. APEC CEO Summit…... [read more]

PM Phuc made the points on January 6 in Ha Noi while attending a video-teleconference on the performance in 2016 and tasks in 2017 of the industry and trade sector. In spite of numerous difficulties triggered by natural disasters and great headwinds from international markets, 12 preset norms were outstripped and two others were closely fulfilled. Applauding Ministry of Industry and Trade The manufacturing and processing industry became a bright spot in terms of growth with a 11.2% rate in comparison with 10.5% recorded last year. Total retail sale of goods and social service surged sharply by 10.2%. A series of trade promotion activities and the campaign on “Vietnamese use Vietnamese goods” served to alter awareness of domestic customers. The fight against smuggling, trade frauds, counterfeits, and poor-quality products was fundamentally conducted. PM Phuc applauded the Ministry of Industry and Trade for its decision to abolish Decision 6139/QD-BCT on the Planning of rice exporters in line with market signals. Especially, total export turnover jumped 8.6%. Trade surplus valued US$ 2.68 billion, serving to improve trade balance. Viet Nam jumped 14 steps to the 73rd place out of 139 countries and territories in the World Economic Forum’s Global Trade Report in 2016. Nevertheless, the PM also mentioned shortcomings, a sharp decline in mining exploitation (nearly 6%) including 10% of crude oil export; projects running unprofitably; ineffective strategies and planning schemes regarding mechanics, automobiles, and steel; and unfruitful SOEs restructuring process. Generating a fair business environment PM Phuc stressed that the Vietnamese…... [read more]

The Government tasked ministries, agencies, sectors, and enterprises to uphold the theme “Strengthening disciplines, raising responsibilities, nurturing creativity, robust and sustainable growth.” Stabilizing macro-economy and controlling inflation The Resolution looked to stabilize the macro-economy and control inflation. The Government tasked the Ministries of Planning and Investment, Finance, Industry and Trade, Foreign Affairs, and the State Bank of Viet Nam to keep a close watch on domestic and foreign economic, trade, and financial situations for active and timely measures; control inflation; stabilize macro-economy; and boost growth. The SBV was entrusted to work with other ministries, agencies, and localities to regulate the monetary policies in a flexible and active manner; combine with fiscal and other policies to rein in inflation; stabilize macro-economy, and promote growth; timely propose measures to the Government and PM in response to new developments in the domestic and world markets. The SBV is also in charge of managing the foreign currency and gold markets; submitting a project on prevention of dollarization and goldenization (or reversion-to-gold). The Ministry of Finance was asked to conduct close and active fiscal policies in accordance with the monetary policies to stabilize the macro-economy and control inflation; work with other ministries, agencies, and localities to exercise thrift practice; and monitor State budget spending. Raising productivity and competitiveness The Government tasked the Ministry of Planning and Investment to work with the Ministries of Industry and Trade, Science and Technology, relevant ministries, agencies, and localities to compose and perfect supportive policies on SMEs, especially those which…... [read more]

This statement was made by Prime Minister, Nguyen Xuan Phuc at a national online conference held by MoST in Hanoi on January 4 to review its performance in 2016 and set out tasks for 2017. The event was also attended by Deputy PM, Vu Duc Dam and numerous experts and scientists around the country. Addressing the conference, PM Phuc appreciated the great contributions made by the science and technology sector to socio-economic development achievements. However, he pointed out the reasons for the low competitiveness of the Vietnamese economy and the low networking readiness index of the country, including the situation of little research applied in reality. Therefore, it is necessary to give priority to investment in projects with high practical application, he added. The PM emphasised six factors for the development of the science and technology sector: institutions, mechanisms and environment; human resources; resources; infrastructure; integration capacity; and management capacity of the State for science and technology. He noted that the fourth industrial revolution requires Vietnam to constantly innovate and rebuild its administration in order to promote the role of science and technology, particularly human resources and institutions. The Government leader urged the enhancement of international integration on science and technology and the encouragement of investment and application of scientific and technological advances from enterprises as well as the removal of institutional bottlenecks in scientific and technological development. The sector should thoroughly grasp the market need to give appropriate directions for scientific and technological research activities, said PM Phuc. He…... [read more]




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