VietNamNet Bridge - APEC 2017 will open many opportunities for businesses, especially small and medium enterprises, to access the broad market of member economies.

APEC 2017: Golden opportunity for Vietnamese enterprises

Deputy Minister of Foreign Affairs Bui Thanh Son, who is also Vice Chair of the National Committee for APEC 2017, said hosting APEC Year 2017, Vietnam will have more opportunities to strengthen its economic, trade and investment relations with partners in the Asia Pacific region.

The organization of this event will also facilitate the achievement of objectives of the country's Socio-Economic Development Strategy for the period 2011-2020. 

Regarding the expectations of Vietnam for hosting APEC Year 2017, Son said Vietnam has big expectations as follows:

Contributing positively to the APEC process, making APEC cooperation more effective. 

Raising the profile of APEC as a leading forum for economic cooperation, the pioneer for regional connectivity, promoting peace, stability, cooperation and development. Strengthening friendship and partnership with APEC members. 

Promoting innovative, dynamic, potential and active integration Vietnam. Providing opportunities for development, exchanges for regions, localities, enterprises and people of Vietnam.

Emphasizing the benefits of APEC 2017 for Vietnamese localities, businesses and people, Deputy Minister Bui Thanh Son said that as the host, Vietnam is expected to welcome tens of thousands of delegates and organize about 200 events throughout the country, opening up great opportunities for Vietnamese localities and businesses to promote business, connections, attract tourists, promote images, and introduce local products to APEC partners and leading corporations in the world.

APEC cooperation opens up great opportunities for Vietnamese enterprises, especially small and medium ones: having access to the broad market of member economies, enjoying the favorable investment, business environment and more convenient traveling, seeking strategic investors, approaching technology and advanced management of the leading corporations in the world ...

People have more options

First of all, hosting APEC Year 2017 contributes significantly to the country’s effort to diversify our international relations and to deepen our bilateral relations as well as maintain a peaceful, stable and secure environment, firmly defending territorial sovereignty. 

Moreover, through the contribution and participation in resolving common issues, Vietnam can enlist the widespread support of APEC members for its interests, and through which enhances Vietnam's prestige. 

Hosting APEC Year 2017 also contributes to improving the internal strength of the country. 

This is a forum gathering many leading economic partners of Vietnam, which account for 75% of trade, 78% of foreign direct investment, 38% of official development assistance (ODA) and 79% of foreign tourists to Vietnam. 

The implementation of APEC commitments has promoted trade, investment and tourism between Vietnam and APEC partners. 

Seven APEC member economies are among the top 10 export markets of Vietnam: United States (1), China (2), Japan (3), South Korea (4), Hong Kong - China (5th), Malaysia (9th), and Singapore (10th). Most of these partners are also top investment partners in Vietnam.

The participation in APEC cooperation has enabled Vietnam to better access science and technology, advanced management skills, take advantage of resources and support from APEC, improve the quality of human resources, participate in global value chain, etc., contributing to the economic restructuring and transformation of the growth model to achieve the objective of fast and sustainable development.

Implementing commitments, policy synchronization and supporting projects of APEC also contribute to enhancing the international integration capacity of ministries, sectors, localities and enterprises, enhancing the knowledge and experience of the staff who are in charge of the integration work.

Participating in APEC and strengthening cooperation with member economies as well as the business community in the region will enable people to have more choices in terms of employment, goods, services, health care, tourism ... with better quality and price. 

Young people have more favorable conditions to study in a high quality education and training environment (about 80% of overseas Vietnamese students are studying in many APEC member economies like Australia, the United States, China, Japan, Singapore, Russia and Canada).

Bao Duc