OV businesses globally serves as economic bridge of the nation: NA Chairman
The activities of overseas Vietnamese businesses in the world are viewed as an important bridge connecting other economies with Vietnam, National Assembly Chairman Vuong Dinh Hue said during a recent meeting with the OV business community in Europe as part of his official visit to Hungary.
Hoang Manh Hue, chairman of the Union of Vietnamese Business Associations in Europe, said that the OV business community in Europe has grown strongly over recent years, serving as an effective bridge between both the Vietnamese and European markets.
Most notably, the business community not only imports a range of goods from the nation into the European market and into the supply chain of enterprises in the host country, but also has been very successful in building a stable and effective business model. Indeed, this is largely based on standards in accordance with the law of the host country, Hue said.
The top Vietnamese legislator highlighted the crucial role that Vietnamese enterprises in Europe play in terms of introducing and selling local products and developing distribution channels for them in foreign markets.
The Party and State therefore appreciate the co-ordination of the overseas Vietnamese community, with the entrepreneur association playing a vital role in helping the nation fight against the COVID-19 pandemic, he said.
“Thanks to the vaccine diplomacy campaign and the great support of countries, including OVs, Vietnam has gone from a country with no vaccine dose to become one of the six countries with a highest rate of vaccine coverage globally and it has so far completely controlled the COVID-19 pandemic, and recognized mutual vaccine passports with more than 30 countries around the world,” the top Vietnamese legislator went on to outline.
Informing participants on the current domestic situation, the NA Chairman stated that the country is among the few to have overcome the crisis.
He therefore expressed his high hope that Vietnamese-owned businesses based in Europe will help the nation to develop into a high-middle income country by 2030 for the occasion of the 100th founding anniversary of the Communist Party of Vietnam. This is in addition to growing into a developed and high-income nation by 2045 on the occasion of the 100th founding anniversary of the Socialist Republic of Vietnam.
Furthermore, the Vietnamese business community in Europe has been able to deeply and widely integrate into economic activities, thereby successfully building valuable Vietnamese brands, including brands valued at up to US$500 million.
The NA leader also rejoiced at the consistent growth of the Vietnamese community abroad, along with the rising number of businesses and entrepreneurs, with 5.3 million people residing across 130 countries and territories. As of 2021, there have been 376 investment projects implemented which have been run by overseas Vietnamese investing in the country, with registered capital totaling US$1.7 billion.
“Activities of Vietnamese enterprises in the world as well in Europe not only contribute to the host country's economy, but also act as a bridge connecting other economies with Vietnam, and also directly and indirectly contribute to the national economy.
Despite being heavily affected by the COVID-19 pandemic in 2021, according to IMF statistics, a total of US$18.1 billion of overseas remittances were sent to Vietnam, of which a large part was income from oversea Vietnamese businesses around the world," said the NA Chairman.
The same day Hue pay a visit the Vietnamese Embassy and met with Vietnamese people residing in Hungary.
He affirmed that the Party and State continue to pay close attention to and consider the overseas Vietnamese community as an integral part of culture, as well as being a key resource of the ethnic community and an important factor contributing to strengthening co-operation and friendship between Vietnam and other countries.
