First VBS kicked off in Danang

The first Vietnam Business Summit, organised in the central city of Danang within the framework of the APEC Economic Leaders’ Week, started this morning.

First VBS kicked off in Danang
The very first Vietnam Business Summit has begun today

Under the theme "Vietnam: We Mean Business," Vietnam Business Summit (VBS) sees the participation of Prime Minister Nguyen Xuan Phuc, various government officials, leaders of ministries and 63 cities and provinces, representatives of international organisations, and CEOs of many local and foreign groups and firms, and investors as well.

The summit is an opportunity for foreign investors to learn about economic development policies, along with the investment and cooperation potentials in Vietnam.

The conference covers topics of smart agriculture, financial services for development, healthcare and education, infrastructure and connectivity, tourism and special economic zones, and small- and medium-sized enterprises (SMES), startups, and innovation.

In parallel with the summit is the “Vietnam: We Mean Business” exhibition held to introduce cities and provinces’ typical products and projects calling for investment as well as their diversified economic potential in agro-forestry-fisheries, industry, and services. This event also displays the outstanding achievements of the Vietnamese economy, and introduces and promotes traditional domestic and export products.

PM Phuc said that the VBS will bring about “clear and comprehensive visions for the economy and favorable development policies for Vietnam.”

“At the same time it will usher in immense vast opportunities for successful investment and business links with Vietnam, a fast-growing country with great development potential that is pursuing extensive renovation and an open-door policy,” he stressed.

“We will continue creating the best conditions for all of you here,” Phuc continued. “We strongly believe that the success of enterprises is that of Vietnam, and the success of each member economy contributes to the prosperity of our APEC community. Vietnam’s investment and business has significantly improved, attracting more and more foreign investment."

Vietnam’s business environment has significantly improved, with the World Bank raising the country’s business climate index by 14 ranks – a record improvement over the past many years.

The World Bank has issued its high-profile Doing Business 2018 report, which stated that Vietnam has “implemented the most reforms in the past 15 years, with 39 reforms. Today, an entrepreneur in Ho Chi Minh City spends 22 days and 6.5 per cent income per capita registering a new company, compared to 61 days and 31.9 per cent in 2003.”

In the report, Vietnam’s business climate index rose to 68th out of 190 economies surveyed, from the 82nd in last year’s survey.

Phuc also highlighted Vietnam’s active integration into the global trade community, having signed and participated in 12 free trade agreements (FTAs) and negotiating four separate new-generation FTAs.

Philipp Rösler, managing director of the World Economic Forum, also told the summit that Vietnam has made impressive progress in boosting economic growth and attracting investment.

However, he noted that the right policies and proper legal framework are key factors in improving the country’s labour capacity and productivity.

Rösler also noted that the biggest asset of Vietnam is not its oil infrastructure, but its young people, who are a key factor in attracting more foreign investment.

VBS is an initiative of Vietnam Chamber of Commerce and Industry (VCCI).

Billionaire panellists to talk at the 2017 APEC CEO Summit

Three billionaires and several leaders of top enterprises around the world will attend APEC activities this year.

First VBS kicked off in Danang
Nguyen Thi Phuong Thao

Thao is the founder and CEO of Vietjet Air. Thao pursued her further education in economic management in Russia and grew her business portfolio with numerous Vietnamese- and foreign-owned enterprises in fields of finance-banking, aviation, real estate, and consumption. Thao used to be a member of the board of directors (BOD) in several commercial banks in Vietnam before joining Ho Chi Minh Development Joint Stock Commercial Bank (HDBank) as vice president of BOD.

According to Forbes, Thao is currently the first and only self-made woman billionaire in Vietnam. Her net worth is estimated at $1.94 billion, which is $1.2 billion more than her debut in the Forbes list in March.

In this year's APEC CEO Summit, specifically in the fifth session, she will address the conference “Connect to Develop,” alongwith Chan Min Simon–CEO of Alpha King, Scott Price–executive vice president of Global Leverage for Walmart International, and Jin Liqun–president of Asian Infrastructure Investment Bank (AIIB).

First VBS kicked off in Danang
Sheryl Sandberg

Sheryl Sandberg is the chief operating officer (COO) of Facebook with a net worth of $1.6 billion. Sheryl is regarded as the right hand of Mark Zuckerberg, Facebook’s founder and CEO. Sheryl was responsible for coordinating with Mark before the gigantic social networking site launched its initial public offering.

Sandberg is well-known for her book about how women define themselves in the workplace titled ‘Lean In.’ She graduated at the top of her class at Harvard Business School. At the age of 25, she worked for tje World Bank under the guidance of Larry Summers, former vice president of the United States Secretary of the Treasury. After this, she returned to Harvard to receive her degree certificate. Sheryl used to work for Google before Facebook.

At the APEC CEO Summit’s twelfth session, she will be a panellist of the discussion “Building Connection and Community in a Technology-enabled World,” with Malcolm Turnbull, Prime Minister of Australia.

First VBS kicked off in Danang
Nathan Blecharczyk

Blecharczyk is the 34-year-old co-founder and chief strategy officer of Airbnb, a peer-to-peer room and home rental company. Nathan was the fist engineer of the company to work with Chesky and Gebbia. Currently, Airbnb is present in more than 65,000 cities in 191 nations. Blecharczyk was also estimated at a remarkable net worth of $3.8 billion by Forbes.

At fourth session of the APEC CEO Summit, Nathan will discuss “Job Creators” with Ning Tang–founder and CEO of CreditEase Holdings, Chrystia Freeland–Canadian Minister of Foreign Affairs, and Duong Thi Mai Hoa–CEO of Vingroup.

First VBS kicked off in Danang
Robert S. Franklin

Exxon Mobil is an American multinational enterprise and currently the world’s largest publicly-traded international energy and petrochemical company specialised in energy exploration and exploitation on the entire globe.

Franklin has held multiple positions at the firm since 1999. Currently, he is the vice president of Exxon Mobil Corporation and president of ExxonMobil Gas & Power Marketing Company, a subsidiary.

At the APEC CEO Summit’s eleventh session, he will attend the discussion on “Resource Efficiency and Sustainable Growth” with Mark Konyn–group chief invest officer of AIA, Jacinda Ardern–Prime Minister of New Zealand, and Thai Huong–president of TH true MILK JSC.

First VBS kicked off in Danang
Scott Price

Scott Price is the executive vice president of Global Leverage for Walmart International.

The firm currently owns more than 6,200 retail stores and more than 774,000 associates in 27 countries outside the US.

Scott Price is leading global sourcing, international technology, international logistics, fresh manufacturing, and key strategic leverage initiatives for the international segment.

Before joining Walmart, Scott used to be CEO of DHL Express Europe, and has 10 years of experience working at Coca-Cola.

At the APEC CEO Summit’s fifth session, Scott will attend the discussion on “Connecting for Growth,” with Jin Liqun–president of Asian Infrastructure Investment Bank, Nguyen Thi Phuong Thao–CEO of Vietjet, and Chan Min Simon–CEO of Alpha King.

First VBS kicked off in Danang
David Cunningham

In January, Cunningham was appointed as president and CEO of FedEx Express—a subsidiary of FedEx Corporation, the world-leading cargo airline.

Cunningham is in charge of the FedEx Express group, which includes FedEx Express and TNT. Cunningham is also a member of FedEx Corporation’s Strategic Management Committee.

In the sixth session on “New Frontiers in Trade,” he will share his point of view with Pedro Pablo Kuczynski–president of Peru, Carrie Lam–chief executive of Hong Kong, China, and Richard Adkerson–vice chairman, president & CEO of Freeport-McMoran Inc.

Four Vietnamese entrepreneurs to attend APEC CEO Summit Four Vietnamese entrepreneurs to attend APEC CEO Summit

Four leaders of Việt Nam’s large corporations have been invited to participate in the APEC CEO Summit 2017, being held from November 8 to 10 in the central city of Đà Nẵng.

By Thanh Thu