The Asia-Pacific Economic Cooperation Forum (APEC) 2017 in Vietnam is a golden opportunity for local enterprises to promote trade and investment, according to Hoang Van Dung, Chairman of the APEC 2017 Business Advisory Council.
Dung said APEC is a leading economic forum and drives growth, trade and investment in the region.
The forum, which includes the world’s economic largest economies like the US, Japan and China, contributes 50% of global GDP and 50% of global trade.
For Vietnam, APEC member economies contribute up to 70% of investment and tourism growth with 20,000 enterprises registering a total capital of US$300 billion, contributing 25% of GDP, 35% of industrial output and 70% of export value.
They also provide one million direct and indirect jobs in Vietnam and are turning Vietnam from an agricultural economy into an export-oriented and manufacturing economy.
Dung said at the forum, Vietnamese enterprises can contact leading enterprises in technology to seek technologies suitable for their development.
Vietnamese enterprises can also participate, contribute and raise issues at the APEC Business Summit, the APEC Economic Leader's Meeting, the APEC Business Advisory Council, and public-private dialogues between APEC working groups and businesses.
According to Dung, micro-, small- and medium-sized enterprises must improve their capability by restructuring business and taking advantage of technology to boost productivity and competitiveness if they are to go global.