Sunday, 19 Nov 2017

Chairman of PwC International: Big opportunities in Vietnam

Updated at Thursday, 09 Nov 2017, 12:56
The Hanoitimes - In the framework of APEC Economic Leaders’ Week, on November 8, the APEC CEO Summit has officially convened in Danang with theme “Creating New Dynamism, Fostering a Shared Future”.
In sideline of the Summit, the Chairman of PricewaterhouseCoopers International Limited (PwC) – Mr. Robert E. Moritz said: “APEC is one of the fast growing region. GDP growth in APEC region has been optimistic when you look around, for example in Vietnam and its neighboring countries”.
the Chairman of PwC Robert E.Moritz at the CEO Summit 2017.
The Chairman of PwC Robert E.Moritz at the APEC CEO Summit 2017.
With regard to Vietnam, Mr. Moritz said: “Based on what I have heard at the Vietnam Business Summit 2017, I am impressed with Vietnam and see big opportunities here”. The Chairman of PwC said there are 3 factors influencing the above statement. Firstly, Vietnam has a young population and is growing; secondly, the labor force is highly trained and has opportunity to contribute to the economic growth; and thirdly, Vietnam’s neighboring countries all focus on trade agreements. 

In terms of the worrying trend of protectionism in some APEC member economies, Mr. Moritz said: “When you look at concerns over nationalism or protectionism against the process of globalization, it is not only the problem of politicians, but also of citizens. However, enterprises can still find opportunities in the process of globalization. For them, global integration means they can do business more freely. They can work on business across borders and access resources to provide for their supply chain, or to serve customers from anywhere in the world”. 

As such, the Chairman of PwC stated that “globalization will continue in the coming time, and we are witnessing enterprises to adopt to a new globalized world based on the standpoint of nationalism”. Speaking about the Trans Pacific Partnership (TPP) agreement, Mr. Moritz said “the withdraw of US from TPP obviously is a main challenge for other countries to facilitate this multilateral trade agreement. However, I think the remaining countries taking part in the negotiation process will soon approve TPP”.

The Vietnam Business Summit 2017 opens its doors to the representatives of prominent international organizations, as well as academics and hundreds of business leaders from not only Asia Pacific but also global enterprises. The Summit is an opportunity for foreign investors to find out about the economic development policies, along with the investment and cooperation potentials in Vietnam. For domestic and foreign enterprises, the event is also an occasion to meet, to connect and to share the information regarding the trade and integration trends, as well as the cooperation experience in Vietnam and Asia-Pacific region. The conference included: Smart Agriculture; Financial services for development; Health care, Education; Infrastructure, Connectivity; Tourism and Special Economic Zones; SMES, Start-Ups and Innovation.

According to the Prime Minister Nguyen Xuan Phuc, the Vietnam Business Summit 2017, which is held during the APEC Economic Leaders ‘Week, with the participation of heads of government agencies, provinces, international organization, and many domestic and international entrepreneurs – will bring about clear, comprehensive vision on the economy and Vietnam favorable development policies; and at the same time open up vast opportunities for successful investment and business linkage in Vietnam – a fast-growing nation with great development potential that is pursuing extensive renovation and open-door policy. 
Ngoc Thuy
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