Overseas Vietnamese Business Association set up

The Overseas Vietnamese Business Association was officially established in Hanoi on August 10 to link up and assist overseas Vietnamese to do business in both Vietnam and abroad.

At the ceremony, Deputy Prime Minister Pham Gia Khiem said that the Vietnamese Government always supports and creates the best possible conditions for overseas Vietnamese businesses to boost their production and business activities and contribute to the homeland’s development.

The Deputy Minister of Foreign Affairs, Nguyen Thanh Son, said that the establishment of the association is a major event for the whole Vietnamese business community overseas, reminding them of their responsibility to the motherland and confirming the Party and State’s policies towards the overseas community.

More than 300 Vietnamese businesses from all over the world have registered to join the association.

Its first congress on the same day elected a 32-member executive committee, headed by Pham Nhat Vuong, who pledges to fulfil the tasks set by the Vietnamese Government and act for the sake of the country, the people and Vietnamese entrepreneurs.

In recent years, the Vietnamese Party and State have introduced many policies to create better conditions for the overseas Vietnamese community to do business in the country. So far, overseas Vietnamese have invested nearly US$2 billion in some 3,000 projects in Vietnam. In 2008, they remitted up to over US$7 billion to Vietnam despite the global financial meltdown.

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