Ho Sy Hung elected chairman of Vietnam Chamber of Commerce and Industry

Speaking at the meeting, Hung said, “This is both a great honour and a profound responsibility entrusted to me. To fulfill this duty effectively, it is crucial to preserve unity, foster democracy, and uphold the working principles of the VCCI’s executive committee, the Party Standing Committee, and the VCCI Standing Board. Equally important is to demonstrate accountability and integrity as a leader, while continuing to inherit and build upon the achievements and valuable experiences of previous generations of VCCI leaders.”

“Drawing on over 30 years of experience across various leadership roles, I pledge to remain humble in learning, continuously enhance my capabilities, and drive bold innovation in both mindset and action. I will work with a strong sense of responsibility, diligence, integrity, and impartiality, listening attentively to the voices and aspirations of officials and enterprises alike, and devote my utmost effort and commitment to the sustainable development of the Vietnamese business community and VCCI,” Hung added.

Ho Sy Hung, newly elected VCCI chairman

He further noted, “After 62 years of development, we now find ourselves on a path with no precedent and no predefined model. This is particularly true amid ongoing economic transformation and rising expectations from the Party, the state, and the business community. VCCI still has much to accomplish in anticipation of opportunities and challenges.”

As a central mass organisation established by the Party and the state, and mandated as the national representative body of the business community, entrepreneurs, employers, and business associations in Vietnam, VCCI continues to shoulder the core mission of building a community of enterprises and entrepreneurs with strong aspirations and national pride. They are contributing to the creation of a prosperous and powerful nation for the happiness of the people. At the same time, VCCI strives to foster the growth of a highly competitive business sector driven by innovation, science, and technology. Thus, Vietnamese businesses are capable of integrating into the global economy and participating deeply in global value chains.

To successfully fulfill this mission, VCCI is positioning itself in line with new trends in both the domestic and international business environment. Under the direction of the Party and the state, VCCI is striving for rapid and sustainable growth based on innovation, mastery of science and technology, and enhanced business efficiency. Focus is being given to strategic industries that generate high added value, such as the green economy, digital economy, circular economy, high-tech agriculture, trade and services, and manufacturing and processing, based on innovation.

“To facilitate the goals, VCCI and the business community must deepen collaboration with authorities at all levels. We should contribute to the process of reforming management mechanisms, pioneering in new and key industries, and opening up new markets. We should focus on resolving the difficulties faced by enterprises, and enhancing support to help them grow stronger and become more competitive at domestic, regional, and international levels,” Hung stated.

Vietnam is targeting a GDP growth rate of 8 per cent or higher in 2025 and achieving double-digit growth in the following years. Thus, entrepreneurs and enterprises play a vital role in realising Vietnam’s aspirations, as reflected in pillar resolutions.

The business community is entering a new stage of development. The appointment of the new chairman will enable VCCI to strengthen its organisation and accompany the business community through a period of drastic transformation.

VCCI calls for greater support for R&D costs of FDI firms The Vietnam Chamber of Commerce and Industry (VCCI) has proposed increasing the support for research and development (R&D) costs to over 50 per cent for foreign direct investment (FDI) businesses, it said in policy feedback requested by the Ministry of Planning and Investment.

VCCI proposes clarification of VAT regulations for foreign suppliers The Vietnam Chamber of Commerce and Industry (VCCI) submitted feedback to the Ministry of Finance on June 12 on the draft circular outlining specific provisions of the VAT Law and guiding the implementation of its related decree.

VCCI and PwC Vietnam launch 'Doing Business in Vietnam' to empower investors In celebration of Vietnam Entrepreneurs' Day on October 13, the Vietnam Chamber of Commerce and Industry (VCCI) and PwC Vietnam have launched the 13th edition of “Doing Business in Vietnam”, a strategic guide for investors and entrepreneurs navigating Vietnam's evolving economic landscape.