Chairman of VCCI Ho Sy Hung receives representatives of foreign chambers of commerce in Vietnam (Photo: Truong Dang)

On January 29, a delegation of leaders from foreign chambers of commerce representing the Vietnam Business Forum (VBF) held a working session with Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Ho Sy Hung to discuss cooperation orientations for the new year and plans to reform VBF in the coming period.

The meeting took place in the context that Vietnam has recently upgraded its relationship to a Comprehensive Strategic Partnership with the European Union (EU) and the United Kingdom, reflecting the need to strengthen coordination between domestic and foreign business communities, as well as to renew public–private dialogue mechanisms to meet new development requirements.

Towards a more streamlined and effective model

Over the years, VBF has accompanied the reform process of the investment environment, serving as a policy dialogue channel between the business community and the Government of Vietnam.

At the meeting, the parties agreed on the need to innovate VBF’s operating methods towards a more streamlined, substantive and effective approach. Accordingly, the “VBF Light” model was proposed as a reform orientation, aiming to reduce operating costs while enhancing the forum’s flexibility and policy responsiveness.

VBF is expected to maintain a reasonable membership size and operate under a more open and horizontal structure, thereby promoting rapid information sharing among associations and increasing the participation of the FDI business community in policy dialogue and practical activities.

Speaking at the meeting, the Chairman of VCCI emphasized the inevitability of the reform process, stating that renewing VBF is necessary in the new context to improve operational efficiency and optimize resources.

Addressing technical obstacles and ensuring legal compliance

Chairman Ho Sy Hung commits to supporting VBF in terms of infrastructure and organizational solutions in the future (Photo: Truong Dang)

Another key issue discussed was technical difficulties in the operation of VBF, particularly those related to legal status and financial management. VCCI affirmed its readiness to provide support in terms of infrastructure and organizational solutions, on the basis of full compliance with Vietnamese laws and regulations.

VCCI leaders also emphasized the role of VBF as a macro-level policy feedback channel, accompanying the development priorities of the Government of Vietnam. In the coming period, the forum is encouraged to focus more on strategic areas such as high technology, artificial intelligence (AI), new energy, and sustainable investment models in regions with advantages in infrastructure and logistics.

At the same time, the VBF Working Groups will be reviewed to ensure substantive operations and genuine representation of the common interests of the business community, thereby contributing more effectively to policy reform and improvements in the investment environment.

Prospects for cooperation in the new phase

Representatives of foreign business associations highly appreciated VCCI’s coordinating role as well as the long-standing contributions of VBF in maintaining policy dialogue between the business sector and the Government of Vietnam. The parties expressed expectations that the reform process would enable VBF to continue to serve as a reliable bridge, promptly reflecting policy issues in a rapidly changing economic and legal environment.

VCCI leaders committed to soon reviewing and finalizing relevant proposals as a basis for subsequent implementation steps. The parties are expected to continue discussions at upcoming regular meetings, aiming toward a more substantive and effective phase of public–private cooperation in Vietnam.