Operating under the VBF alliance model

On the morning of 8 June in Hanoi, the Vietnam Business Forum Alliance (VBF) held a signing ceremony for the Memorandum of Understanding (MOU) on VBF operations for the 2026–2030 period. The event marks a new stage in the nearly 30-year journey of VBF in promoting policy dialogue and accompanying the improvement of Vietnam’s investment and business environment.

The MOU signing ceremony on VBF operations for the 2026–2030 period took place on 8 June. Photo: NH

Attending the ceremony were PGS.TS Ho Sy Hung – Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), co-chairman of VBF representing the domestic business community; Mr. Ko Tae Yeon – Chairman of the Korean Chamber of Commerce in Vietnam (KoCham), co-chairman of VBF representing the foreign business community; along with leaders of VBF member business associations.

Established in 1997, VBF is a regular public–private dialogue mechanism between the Government of Vietnam and domestic and international businesses. Over nearly 30 years, VBF has contributed to improving the investment and business environment, refining the legal framework, enhancing policy transparency, and strengthening the competitiveness of the economy through dialogue and policy consultation activities with the Government, the National Assembly, ministries, and local authorities.

The MOU for the 2026–2030 period marks the official transition of VBF into an alliance model with a more streamlined, transparent, and efficient governance structure.

Accordingly, the VBF Alliance consists of five official members: VCCI, the Korean Chamber of Commerce in Vietnam (KoCham), the American Chamber of Commerce in Vietnam (AmCham), the British Chamber of Commerce in Vietnam (BritCham), and the European Chamber of Commerce in Vietnam (EuroCham), along with associate members participating in VBF activities.

The MOU reaffirms VBF’s role as a public–private dialogue platform between domestic and international businesses and the Government of Vietnam, aiming to: represent and promote the common voice of the private sector on shared concerns; support improvements in the investment and business environment and contribute to sustainable economic development in Vietnam; promote a fair and transparent business environment between domestic and foreign enterprises; organize forums, high-level dialogues, and periodic consultations with government agencies; and maintain VBF as an independent, non-political, non-profit organization operating in accordance with Vietnamese law.

In his remarks at the ceremony, Mr. Ho Sy Hung – Chairman of VCCI, co-chairman of VBF – stated that in 2026 and the 2026–2030 period, Vietnam targets double-digit economic growth based on strong reforms across administrative systems, legislation, international integration, and science, technology, and innovation.

Vietnam’s reform process is reflected in the restructuring of the administrative system from central to local levels. In this context, the Vietnamese Government continues to view the foreign direct investment (FDI) sector as an important force in achieving these objectives.

At the local level, many provinces in Vietnam are also striving to improve the investment environment to attract foreign capital. Accordingly, VBF is expected to play an increasingly important role not only at present but also in the future, accompanying Vietnam’s development goals.

To support foreign investors, Mr. Ho Sy Hung noted that in recent years VCCI has coordinated with various organizations to promote business development by improving the business environment and implementing the Government’s policies and orientations.

The Vietnam Business Forum 2025 with the theme “Businesses accompany the Government in green transformation in the digital era”. Photo for illustration

Foreign businesses confident in investment prospects in Vietnam

According to the VCCI Chairman, in the first six months of 2026, VCCI has implemented many activities focusing on two main tasks. The first is policy and institutional reform to improve the investment and business environment for enterprises in Vietnam, including both FDI and domestic firms.

Specifically, VCCI has contributed feedback to the National Assembly as well as to administrative reform and policy improvement by the Government. Recommendations have been submitted directly to the Prime Minister and Deputy Prime Ministers for consideration and implementation. In the early months of the year, significant progress has been recorded, including a reduction of about 30% in administrative procedures.

Second, VCCI has participated in numerous high-level overseas delegations and supported investment promotion activities involving businesses from Korea, Japan, China, and many other countries exploring opportunities in Vietnam.

“From this, it can be seen that VCCI’s mission and activities are highly aligned with those of VBF. The current context and requirements of Vietnam are creating very favorable conditions for VBF’s operations,” Mr. Ho Sy Hung emphasized.

According to him, the key now is to turn commitments into concrete action. This MOU will serve as a foundation for stronger coordination and more effective implementation in the coming period.

Speaking at the event, Mr. Ko Tae Yeon – Chairman of KoCham and co-chairman of VBF – stated that the foreign business community highly values Vietnam’s reform efforts and policy dialogue over recent years. VBF members are confident in Vietnam’s economic outlook and wish to continue long-term cooperation.

He emphasized that while challenges always exist, the key is continued dialogue and cooperation for shared goals. As a bridge between businesses and regulators, VBF will continue promoting policy recommendations to improve Vietnam’s investment and business environment.

The VBF Chairman also expressed support for Vietnam’s ambitious development goals, affirming that FDI enterprises are not only foreign investors but also an integral part of the business community in Vietnam, sharing responsibilities and benefits in national development.

The Vietnam Business Forum (VBF) is an annual policy dialogue mechanism between the business community and the Government, established in 1997. In 2025, under the theme “Businesses accompany the Government in green transformation in the digital era,” VBF continues to affirm its role as a bridge between the private sector and regulators, contributing to sustainable growth and improving the competitiveness of Vietnam’s economy.