Full Transcript: VCCI gives speech addressing International Business Communities in South Vietnam

Monday, 16 June 2014 09:58

The Vietnam Chamber of Commerce and Investment (HCM) organized a closed door meeting with international business communities in South Vietnam on 30 May 2014. This was to address the issues that arose from the protests

The Vietnam Chamber of Commerce and Investment (HCM) organized a closed door meeting with international business communities in South Vietnam on 30 May 2014. This was to address the issues that arose from the protests that happened on 13 and 14 May 2014. SBG was represented by Mr. Phua Koon Kee, Vice-president for Enterprise Relations.

Below is the translated transcript speech of Mr Vu Tien Loc, Chairman of VCCI addressed to the international business community:

Dear foreign enterprises and representatives of chambers of commerce,

Before highlighting the main points of our meeting, we would like to take this opportunity to thank international business communities for your commitment to Vietnam in recent years by continuously and steadfastly believing in Vietnam and investing into this market to contribute to this country’s development.

Foreign enterprises have reported the latest updates on implementing means under the instructions of Vietnam’s Prime Minister, and expressed their appreciation towards Vietnamese government and local authorities for their prompted and timely efforts to stabilize the country’s economic and political situation and develop measures to support foreign investors in managing the damages and maintaining business and production. This has helped to strengthen our belief in the ability to control and maintain the security and safety of investors’ and workers’ lives and properties in Vietnam.

On the other hand, the majority of foreign enterprises have pledged their long-standing business investment into Vietnam in the coming years. In return, Vietnamese government will continue to ensure the safety of foreign enterprises and their business, as well as to support and facilitate business investment procedures.

Most of us have also agreed that all government circulars related to this issue should be translated into at least English and Mandarin. Besides, documents related to actions and activities executed by the government and local authorities should also be sent out to foreign enterprises. Based on those documents, local authorities should create a timeline to execute the required actions in time and efficiently to support foreign businesses. Similarly, these documents issued by local authorities also need to be in English and Mandarin. VCCI will be collaborating with government departments, chambers of commerce and local authorities to foster this.

Foreign investors also hope that local authorities and security offices can respond faster towards matters regarding security and safety of foreign companies. Most of us have suggested that a hotline or guideline should be created for us to know whom to contact, how to react and what to do when similar issues may occur in the future; though we hope and believe that similar issues will never happen again. We admit that administrative procedures in supporting investors and their businesses should also be done faster and more conveniently for foreign enterprises. Even though our Prime Minister has advised and requested this, local authorities still need to be more creative to simplify the procedures in order to speed up the process of supporting and managing the consequences and damages foreign enterprises are facing.

I also want to confirm that most recommendations and suggestions from foreign investors have already been answered in the government’s documents number 207 and 3758.  Besides, investors and local authorities also hope to receive more support and share from Vietnam to help manage the damages caused by the riot. Actually, in Dong Nai, many companies have worked unpaid days to compensate the not-working days due to the riot. This solution, which VCCI will suggest to the government, indicates the mutual cooperation and support from all three sides: government-investors-employees. Most importantly, VCCI will also collaborate with the labor and trade unions of company level and government departments to regularly promote and run campaigns for employees about how to express patriotism without causing damages to one’s work and business.

On a side note, our government had a meeting last week and the reports from the government departments have showed very positive progress. Despite the current issue between China and Vietnam in the South East Sea, Vietnamese-Chinese economic and trading relation is still on-going, important projects between Vietnam and China remains on track and border trading activities are still going on.

This benefits not only Vietnamese and Chinese business companies but also all international business communities, as we are all present here for one sole purpose: to maintain and strengthen the economic-trading relation between Vietnam and China. For this, I believe that we do not need to be concerned about the stability of Vietnamese politics and economy and can continue to invest into Vietnam in upcoming years. Through chambers of commerce and VBF, VCCI will continue to deliver important information, messages and documents from the government about what Vietnamese government is doing to help support foreign companies and investors.

I would like to close our meeting here with the announcement that Vietnam Prime Minister will also be attending VBF annual mid-term seminar this 5 June in Hanoi. This is an opportunity for us to meet Vietnam Prime Minister and hear about Vietnam’s continuous efforts to maintain the country’s security and the protection of foreign enterprises’ business and production.

Thank you all for taking your time and attending the meeting.