It’s time for SMEs to prosper

President of the Vietnam Chamber of Commerce and Industry (VCCI), Vu Tien Loc, has stressed the importance of small-and medium-sized enterprises (SMEs) in the economy.

  • Japan keen to increase investment in Vietnam

SMEs play a crucial role in the national economy, serving as support industries for large groups and businesses, Loc told a September 24 dialogue held in Hanoi by the VCCI and Japan Chamber of Commerce and Industry (JCCI).

The dialogue was designed to foster links between SMEs of Vietnam and Japan.

In the current difficult global economy, both Japanese and Vietnamese businesses are feeling the need to strengthen cooperation and exchanges.

Through dialogues, exchanges, and meetings, they will be able to understand each other better and work out measures to support each other.

JCCI President Tadashi Okamura said the Vietnam visit by more than 100 Japanese enterprises is aimed at exchanging information, seeking business partners, and learning about the investment environment in the Southeast Asian nation.

It will also help Vietnamese enterprises develop and improve the investment environment, thereby contributing to overall national development.

He also said he hopes that Japanese and Vietnamese businesses will work more closely together to fully tap their potential and strengths.

During the event, businesses proposed various measures to boost investment in Vietnam, with a focus on support industries, electronics, informatics, and consultancy services.

Japan is Vietnam’s third biggest partner, after China and the US, with two-way trade reaching more than US$21 billion in 2011 and US$12 billion in the first half of 2012.

Both countries aim to raise that figure to US$30 billion by 2015.