Themed “Viet Nam: We Mean Business,” the first-ever Viet Nam Business Summit, a highlight of the 29th APEC Leaders’ Week, opened at the Ariyana Conference Centre on Tuesday with the participation of more than 2,000 delegates, representing local and foreign business leaders.

Four speakers of the Viet Nam Business Summit: VCCI chairman Vu Tien Loc, PM Nguyen Xuan Phuc, Dr Philipp Rosler, and Vice President for the East Asia and Pacific Region of the World Bank Victoria Kwakwa (from left to right). 

Prime Minister Nguyen Xuan Phuc delivered the opening speech in which he highlighted the determination of the Vietnamese Government to develop the country into a trustworthy and potential trade partner of the world business community.

“I would like to extend the warmest welcome to the Viet Nam Business Summit, one of the many activities and events associated with this year’s APEC Summit, being held in central Đà Nẵng City and ancient Hội An Town, built in the 17th century by merchant fleets from Japan, China, India and other European countries, thus laying the foundation for open trade for hundreds of years,” PM Phuc said in his opening remarks.

The Prime Minister provided delegates with the latest information and outlook of the Vietnamese economy according to analyses and surveys of various world economic organisations.

“Reports from the World Bank Group pointed out that Viet Nam’s economic transition over the past 30 years has been of significant importance in the process of implementing worldwide transformative economic policies, as evident through high GDP growth rates and increased personal income,” the PM said.

Besides this, the World Economic Forum ranked Việt Nam 55 out of 137 countries in 2017, having climbed 20 positions in the past 30 years, with market scale reaching 31 out of 137.

“In 10 years since Việt Nam joined the WTO, the country’s export and import turnover has increased four times, reaching over US$400 billion, almost 175 per cent of GDP," the PM said.

He also highlighted Viet Nam as a destination for international investors, with great efforts to improve the investment environment, attracting more than 4,200 foreign direct investment projects from 120 countries and territories, with capital equal to $310 billion and 155 per cent of national GDP, currently being undertaken in the country.

Agreeing with the Prime Minister, Dr Philipp Rosler, head of Regional and Government Engagement and member of the managing board of the World Economic Forum, highly appreciated the recent improvement of Viet Nam’s business competitiveness.

“Viet Nam made a huge stride last year of five ranks and in the last five years of 20 ranks. So we will see a great business environment and a great economic future for Viet Nam,” Dr Philipp Rosle said.

The delegates also had an opportunity to discuss issues of concern with four speakers -- PM Phúc, Chairman of the Việt Nam Chamber of Commerce and Industry (VCCI) Vu Tien Loc, Vice President for the East Asia and Pacific Region of the World Bank Victoria Kwakwa and Dr Philipp Rosler.

The conference will feature six discussion sessions with the following topics -- smart agriculture; financial services for development; healthcare and education; and infrastructure connectivity; as well as SMEs, start-up and innovation; and special economic zones and tourism potential.

The one-day event, organised by VCCI, aims to provide information to the business community about investment potential in various fields in Viet Nam. — VNS