VCCI and AmCham share the goal of creating a competitive and sustainable business climate

Thu, 27 Apr 2023 22:11:00  |  Print  |  Email   Share:

AmCham and VCCI share the goal of creating a competitive and sustainable business climate for companies and investors.

Mr Adam Sitkoff, Executive Director of AmCham Vietnam

On the occasion of the Vietnam Chamber of Trade and Industry's (VCCI) 60th anniversary, Business Forum Magazine had an exclusive interview with Mr. Adam Sitkoff, Executive Director of the American Chamber of Commerce in Hanoi (AmCham Hanoi) to hear his presentation on the collaboration between VCCI and Amcham in the process of strengthening cooperation between the Vietnamese-American business community over the years.

How do you evaluate the role of the Vietnam Confederation of Commerce and Industry (VCCI) in promoting cooperation between the business communities of the two countries in recent years?

It is a credit to the Vietnamese and American people that our two countries have been able to move beyond the tragedies of our shared past to build such a vibrant and strong friendship. Back in early 1994, around the same time that Amazon was founded and Justin Bieber was taking his first breaths, a small group of Americans held AmCham’s first meeting at the Dragon Hotel near West Lake.

Since then, AmCham members have contributed significantly to the transformation and growth of Vietnam’s economy. One of the main reasons for success is because of the effort of our friends at VCCI. AmCham and VCCI enjoy a close partnership and great working relationship and we have seen trade between our two countries grow rapidly.

In 1995, bilateral trade was just $451 million. It is now around $230 billion per year and we expect to see continued growth in the future. The U.S. is Vietnam's largest export market and Vietnam is the eighth largest trading partner of the United States.

As the voice of the private sector in Vietnam, VCCI continues to push for policies that make the business and investment climate more attractive here and we work closely with VCCI on promoting commercial relations between our two countries.

With the background of close cooperation in recent years, what are your expectations about cooperating with VCCI in the near future, especially in promoting investment of American enterprises in Vietnam?

AmCham and VCCI share the goal of creating a competitive and sustainable business climate for companies and investors here. Right now, our organizations are working together in many areas, such as developing supply chains, supporting Vietnam's transition to a digital economy, developing a globally competitive workforce, and helping to ensure a fair, predictable, and streamlined regulatory environment that values innovation - not only to attract new investment, but also to maintain and grow the investment already here.

We use our close partnership with VCCI to help improve business conditions that strengthen the private sector, ensure sustainable economic and social development, and promote prosperity here.

In partnership with VCCI, we will organize the annual US-Vietnam Business Summit later this year to focus on ways the business communities in both countries can cooperate to increase trade, investment, and opportunities. AmCham very much values our partnership and friendship with VCCI.

As AmCham Director in Hanoi, what plans do you have to promote the investment of American businesses in Vietnam?

AmCham’s mission is to increase trade and investment between the United States and Vietnam and our diverse membership of agriculture, retail, education, manufacturing, services, and the not-for-profit sector, is unified by a common commitment to the principles of free trade, open markets, private enterprise and the unrestricted flow of information.

We support the success of our members by promoting a healthy business environment, strengthening bilateral commercial ties, and providing high-quality activities and information for members.

AmCham provides trade information and guidance for companies seeking new business contacts or for those wishing to establish operations in Vietnam or in the United States, as well as a forum where knowledge and experience can be exchanged among members and prominent guest speakers.

AmCham and our member companies are optimistic about the future in Vietnam. We believe that good government decision-making and continued economic and administrative procedure reforms will support Vietnam’s aspirations to propel itself to the next sphere of economic competitiveness.

Recently, we have worked to strengthen our relationship with many provinces in Vietnam and have set up small AmCham chapters in Vietnam’s central region to promote increased trade and investment ties. As major investors here, American companies are invested in Vietnam’s continued success.

We believe that the business climate can best be helped by actions that increase productivity and reduce the costs and risks of doing business in Vietnam. More importantly, decreasing the cost and complication of doing business will benefit Vietnamese-owned businesses - many of which are small businesses - and will spur entrepreneurship which will ensure Vietnam’s future competitiveness and growth.

Along with our friends at VCCI, AmCham will continue to work on lowering barriers to trade, to help the Vietnamese government make it easier to do business, and to create a high-standard, transparent, and stable business environment to ensure that all investors have fair access to the great opportunities here.

Sincerely thank you!

By: Business Forum Magazine



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