The Vietnam Business Forum (VBF) was established in 1997 during the annual Consultative Group meeting between the Vietnamese Government and its donor partners, as a not-for-profit, non-political channel for nurturing public-private dialogue to develop a favorable business environment that attracts domestic and foreign private sector investment and stimulates sustainable economic development in Vietnam. This is done primarily through high profile bi-annual Forums between the business community and Vietnamese leadership and through specialized Working Groups cutting across sectors.
Serving as a regular and high-level channel of communication between the business community and Vietnamese Government, the VBF is widely recognized as an important actor and reliable partner in shaping reforms that provides concrete results towards delivering a better business environment in Vietnam. Key VBF objectives include working with the Government to create pathways to long-term and sustainable business performance as well as to promote the interests of national and international business community in Vietnam and enhance investment and trade in local and overseas markets. VBF works to provide research, legal analysis, identification of problems and practical solutions.
VBF MILESTONES
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1997A Government – Private Sector Dialogue was initiated
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1998Private Sector Forum was orchestrated
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2000Expanding the PSF to include domestic private sector
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2012VBF Secretariat was transferred from IFC to chambers of commerce and business associations
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2017VBF 20th Anniversary
1997: A Government – Private Sector Dialogue was initiated
At the Consultative Group Meeting between the Government of Vietnam and the donor community held in Tokyo, Japan on December 1997, the International Finance Corporation (IFC) suggested a Government – Private Sector Dialogue. The initiative was made in the context that government, donors, and foreign investors were looking for improvements to accelerate investment in Vietnam. Meanwhile, there had been numerous free-flowing unstructured meetings between the government leaders and individual foreign investors, leading contradictory recommendations.
1998: Private Sector Forum was orchestrated
Given the mentioned context and as requested by the government, donors, and private sector, on December 1998, the Private Sector Forum (PSF) was established under IFC umbrella. The PSF’s initial objective was to distill common concerns working through chambers of commerce and business associations. The PSF was set up as part of Consultative Group with 3 parties: government, donors, and private sector.
2000: Expanding the PSF to include domestic private sector
At the PSF held on 7 April 2000, it was decided to involve domestic private sector to the Forum. A Secretariat under IFC umbrella was also planned to coordinate PSF’s activities.
2012: VBF Secretariat was transferred from IFC to chambers of commerce and business associations
The coordination function of VBF Secretariat was transferred from IFC to a consortium of international and local business associations and chambers of commerce to allow the private sector to play a bigger role in the Forum's sustainable development.
2017: VBF 20th Anniversary
The Annual VBF 2017 held on 12 December 2017 has marked the 20 year contribution of VBF in accompanying with the government towards a favorable investment environment. The Vietnam Business Forum is currently led by 06 consortium members and supported by 08 associate members, which are foreign and local chambers of commerce and business associations. There are 15 Working Groups under VBF umbrella covering almost all areas of business operations and seeking to support the Government through various on-going activities, such as regular high-level meetings.