The first Vietnam Business Summit (VBS), held in parallel with the 2017 Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Week, opened on Tuesday in the central city of Da Nang.  

VBS is an initiative of the Vietnam Chamber of Commerce and Industry (VCCI), and is attended by Vietnamese government leaders and officials, representatives from prestigious international organizations, scholars and hundreds of business influencers from across the Asia-Pacific region.

Themed “Vietnam: We Mean Business,” VBS creates an opportunity for domestic and global businesses to meet, connect and exchange information on world trade and integration with Vietnam as well as other APEC member economies.

Vietnam’s Prime Minister Nguyen Xuan Phuc, Vice President of East Asia and the Pacific for the World Bank Victoria Kwakwa, and Philipp Rösler, managing director of the World Economic Forum, are among the attendees.

Vietnam's Prime Minister Nguyen Xuan Phuc prepares to deliver his remarks at the Vietnam Business Summit in Da Nang, central Vietnam, on November 7, 2017. Photo: Tuoi Tre

The summit is expected to feature six sessions, covering issues including sustainable agriculture, healthcare and education, infrastructure, small- and medium-sized enterprises, startups and special economic zones.

In his remarks, Prime Minister Phuc said the VBS, held during the ongoing APEC Economic Leaders’ Week 2017, will bring about “clear, comprehensive visions for the economy and favorable development policies for Vietnam.”

“At the same time [it will] open up vast opportunities for successful investment and business links with Vietnam, a fast-growing nation with great development potential that is pursuing extensive renovation and an open-door policy.”

The Vietnamese head of government briefed the summit delegates on Vietnam’s active integration with the global trade community, having signed and participated in 12 free trade agreements and negotiating four separate pacts.

“We strongly believe that the success of enterprises is at the core of the success of every economy, and the success of each member economy contributes to the prosperity of our APEC community,” PM Phuc concluded.

Philipp Rösler, managing director of the World Economic Forum , delivers a speech at the Vietnam Business Summit in Da Nang, central Vietnam, on November 7, 2017. Photo: Tuoi Tre

In his keynote speech, the World Economic Forum managing director Rösler said that the right policies and proper legal frameworks are key factors in boosting Vietnam’s labor capacity and productivity.

Rösler also underlined that the biggest asset of Vietnam is not oil infrastructure, but its young people, who are a key factor in attracting further foreign investment.

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