Vietnam News, 26 August 2015. Business associations urged to boost co-operation.

An edited extract of the original article is reproduced below.

[Photo caption: Chairman of the Viet Nam Chamber of Commerce and Industry Vu Tien Loc speaks at the event. — Photo infiornet.vn ]

DA NANG (VNS) — Viet Nam has developed 400 business associations nationwide, but links and co-operation among them have been poor, chairman of the Viet Nam Chamber of Commerce and Industry (VCCI), Vu Tien Loc, said yesterday at a conference on integration and institutional reform, and competitive capacity improvement in new context.

The conference, which drew over 150 businesses in the Central and Central Highlands regions in Da Nang, focused on how to raise awareness and skills of businesses catching up on opportunities at a time when Viet Nam has approached Trans-Pacific Partnership, ASEAN Economic Community and signed a Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU).

“Domestic businesses are told to have more competitive capacity, develop better technology and legal knowledge in availing of opportunities for exports and production for large markets,” Loc said.

“Local business associations play an important role in providing detailed information and guidance on institutions and legal framework and tax cuts when the country signs FTAs,” he said.

“Businesses should understand more about the FTA in order to overcome difficulties and improve product quality to meet the strict requirements of these markets,” he said.

Loc also added that ASEAN has set a goal for the ASEAN Economic Community (AEC) to be established by the end of 2015, and Viet Nam has made efforts to take part in new trade agreements such as the Trans-Pacific Partnership Agreement (TPP) and the Viet Nam-EU Free Trade Agreement…

 

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