Overseas Vietnamese businessmen attend the 4th Congress of the Business Association of Overseas Vietnamese in HCM City on January 27. - VNA/VNS Photo

HCM CITY – More than 200 overseas Vietnamese businesspeople from around the world met in HCM City on January 27 to take part in the Business Association of Overseas Vietnamese’s (BAOOV) fourth congress, which evaluated the results of the association’s activities during the term 2018-2023 and set goals and tasks for 2023-2028.

The event saw the participation of exemplary overseas Vietnamese entrepreneurs representing business associations from 40 countries and territories, along with over 100 delegates including Party and State leaders, leaders of ministries, departments, localities, foreign diplomatic representatives in HCM City, and organisations and associations that are partners of the Association.

Nguyễn Mạnh Đông, deputy chairman of the State Committee for Overseas Vietnamese Affairs, said that in recent years, along with the growth and consolidation of the position of Vietnamese people abroad, Vietnamese businessmen abroad had also continuously grown in both quality and quantity.

Recently, the world economic situation had encountered many difficulties and the political situation had many fluctuations which directly affect Vietnamese businessmen. In this context, Đông noted that the amount of remittances transferred to the HCM City was US$9.46 billion in 2023, much higher than foreign direct investment (FDI) of US$5.85 billion in the same period.

This showed that even in difficult circumstances, the Vietnamese business community abroad still strived to overcome and bring benefits to the country, and thereby contributed to economic growth for Việt Nam, Đông said.

Đông also commended the members for their positive and important contributions, contributing to economic growth as well as other achievements of the country.

The overseas Vietnamese business community plays a vital role in expanding the distribution of Vietnamese goods globally, experts say.

Currently, the association has more than 400 affiliated members in 40 countries and territories. The association strictly adheres to the Party's guidelines, legal policies of Việt Nam and the laws of the host country when carrying out its mission of connecting and attracting resources of Vietnamese entrepreneurs around the world to build and develop the country's economy.

Over the past years, the association has implemented hundreds of investment and trade promotion activities, promoting and exporting Vietnamese goods, while establishing and developing a system of seven centres to promote and display Vietnamese goods abroad and mobilise overseas Vietnamese and the overseas business community to send remittances to invest and build the homeland.

The congress elected the association's 43-member executive board for the 2023-2028 term. Dr. Nguyễn Hồng Huệ was elected chairman of the Business Association of Overseas Vietnamese.

The State Committee for Overseas Vietnamese Affairs trusts that the association will continue to strengthen its solidarity and capability to accomplish its goals, according to Đông.

It also commits to working closely with the association and its members, fostering the overseas Vietnamese community, contributing to Việt Nam's modernisation and global integration.

The congress passed a new resolution emphasising the need for innovation in organisation and operations, and expanding the association to form a global network to further promote cooperation between Việt Nam and other countries in the fields of economy, trade, science, technology, etc.

In the new term, the association will focus more on facilitating trade, strengthening business cooperation and seeking investment opportunities to develop businesses and the country, as well as attracting businesspeople, overseas Vietnamese, and experts to participate in the association's activities.

It will also enhance the dissemination of the Party and State's guidelines and policies to Vietnamese people and businesses overseas.

Adhering to and implementing Decision No. 1334/QĐ-TTg dated November 11, 2023, issued by the Prime Minister, approving the project “Promoting the resources of Vietnamese people abroad to serve national development in the new situation,” the association, under the principle of “Innovation – Unity – Creativity and Sustainable Development,” will strive to enhance the participation of delegates from the domestic business community, Vietnamese enterprises, and overseas Vietnamese.

This collaboration with state agencies will facilitate the connection of Vietnamese businesses and business organisations both domestically and internationally, establishing cooperative relationships with localities and organisations, bolstering the strength of the Vietnamese business community for nation building. – VNS