East Asia Business Council discusses ways to boost economic recovery
The East Asia Business Council (EABC) has recently convened its 47th meeting in an online format, attracting representatives from 13 East Asian nations, including 10 ASEAN member states and their three partners of China, Japan and the Republic of Korea.
Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc, who is also EABC Chairman(Source: VNA)
Hanoi (VNA) – The East Asia Business Council (EABC) has recentlyconvened its 47th meeting in an online format, attractingrepresentatives from 13 East Asian nations, including 10 ASEAN member statesand their three partners of China, Japan and the Republic of Korea.
Chairman of theVietnam Chamber of Commerce and Industry Vu Tien Loc, who is also EABCChairman, said that regional countries have made efforts to minimize impact ofthe COVID-19 pandemic on people’s health and enterprises’ operations.
To overcome currentchallenges, participants discussed measures related to the RegionalComprehensive Economic Partnership (RCEP) as well as ways to boost the digitaleconomy and support micro-, small- and medium-sized enterprises (MSMEs).
The council advised governmentsto speed up the signing of the RCEP, and agreed to intensify cooperation of theprivate sector in sharing information and establishing platforms to promotedigitalization.
It committed tocontinuing initiatives to facilitate the development of MSMEs which are thedriving force for post-pandemic economic development and recovery.
The 48th meeting of the council is scheduled to take place in August./.
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.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
Chairman of the Vietnam Chamber of Commerce and Industry Vu Tien Loc, who is also EABC Chairman(Source: VNA) 
