The second meeting of overseas Vietnamese entrepreneurs and the domestic business circle took place in the Central Highlands province of Lam Dong on August 7.

At the event, Deputy Prime Minister Hoang Trung Hai said he hopes the entrepreneurs will share their managerial expertise and forge partnerships to expand markets and augment competitive edges.

He also called on the business circle to suggest mechanisms and policies to allow them to contribute to their fullest for national development.

The State Committee for Overseas Vietnamese Affairs (COVA) reported that overseas Vietnamese have so far invested 8.6 billion USD in 3,600 businesses in 51 out of 63 cities and provinces nationwide, focusing on trade, tourism, construction, real estate, and aquaculture.

Many OVs are holding majority stakes in major banks in Vietnam like Techcombank and VP Bank. Some even become property moguls, owning mega-shopping malls like VinGroup and Melinh Plaza , or chains of hotels and resorts such as Furama and SunGroup.

Nguyen Thanh Son, Deputy Foreign Minister and COVA head said amid the global economic turbulence at present, the Vietnamese expatriates’ investment continues to increase, reflecting their confidence in Vietnam ’s policies and guidelines.

At the same time, domestic firms like Vietnam Oil and Gas Group, Vinamilk, Viettel, and Hoang Anh-Gia Lai have also reached out to outside markets. Encouraged by successes in neighbouring or traditional markets like Laos , Cambodia and Russia , some have set foot in countries which are also big investors in Vietnam , including the US , Canada , Australia , Russia , France and the Netherlands.

Bui Dinh Dinh, Vice President cum General Secretary of the Business Association of Overseas Vietnamese, said his association is willing to stand side by side with their peers both at home and abroad.

Chu Van Dan, Chairman of the Vietnam Association of Small and Medium-Sized Enterprises in the Czech Republic pledged support for domestic firms in their efforts to sell Vietnamese goods in Europe and the Czech Republic in particular, adding that he wishes companies at home will make greater efforts in building trademark and offering products of transparent origin.

The vice chairman and general secretary of the Vietnam Association of Small- and Medium-sized Enterprises, To Hoai Nam, said cooperation and linkage between overseas Vietnamese businesses and domestic enterprises meet the needs of and also bring opportunities for both side.

The event was co-hosted by the COVA and the Business Association of Overseas Vietnamese.-VNA