Many initiatives will be offered to foster cooperation among regional businesses towards further promoting trade and investment exchange after Vietnam takes over the chairmanship of the EABC in 2020.
EABC 2020 to promote development of MSMEs - Illustrative image (Source: VNA)
Hanoi (VNA) – Many initiatives will beoffered to foster cooperation among regional businesses towards further promotingtrade and investment exchange in the region after Vietnam takes over the chairmanshipof the East Asia Business Council (EABC) in 2020.
According to Chairman of the Vietnam Chamberof Commerce and Industry (VCCI) Vu Tien Loc, priority will be given to promotingdevelopment of micro, small and medium sized enterprises (MSMEs).
Attention will also be paid to enhancingbusiness-related economic and tradepolicies to ensure regional integration, and sustainable growth for East Asiancountries through realising the ASEANEconomic Community (AEC) and the Regional Comprehensive Economic Partnership(RCEP).
MSMEs and businesses owned by women in East Asia countries will be providedwith facilitation to access capital and international markets in order to successfullyparticipate in the global value chain.
EABC will also optimise the potential of human resources, promote startups and innovationon the basis of digitalisation for an inclusive digital future for the EastAsian region.
This is consistent with policies of the Vietnamese Party and State and is anopportunity for Vietnam's economy and business community to connect with EastAsian economies and the world, Loc stressed.
In 2020, Vietnam will also assume the chairmanshipof ASEAN and the ASEAN Business Advisory Council (ASEAN BAC), he added.
Accordingly, many policies and priority actions will be rolled out to boost cooperationamong regional enterprises and international economic integrationas well.
ASEAN BAC 2020 willfocus on expanding digitalisation for sustainable and inclusive socio-economic developmentin the region.
MSMEs - key economic drivers of ASEAN countries - will be supported to fullytap opportunities and respond to challenges from the digital age, thus growing morestrongly and sustainably, Loc said.
According to the VCCI, the 19th ASEAN Business and Investment Summit (ABIS 2020) will be held in November this year along with the 37th ASEAN Summit in Hanoi./.
A series of consultations took place in the central coastal city of Da Nang on August 26 within the framework of the 42nd ASEAN Economic Ministers’ Meeting (AEM-42), the fourth ASEAN Economic Council Meeting and related meetings.
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EABC 2020 to promote development of MSMEs - Illustrative image (Source: VNA) 
