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.
In early 2012, the coordination function of the Forum's secretariat was transferred from IFC, a member of the World Bank Group, 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. The bi-annual Forums are co-chaired by Vietnam's Minister of Planning and Investment, the World Bank's Vietnam Country Director, IFC's Regional Manager for Vietnam and Co-chairmen of the Consortium.
Supports from the Vietnamese Government to the VBF were highlighted by the presence and address of Prime Minister H.E. Mr. Nguyen Tan Dung in three recent bi-annual Forums since 2014 and a number of Ministers and Vice-Minister level. The delegation of Government's highest ranking officers shows the Government's commitment to a strong partnership with the business community and the success of the Consortium in coordinating the secretariat function.
The Consortium is led by five Consortium Members and supported by 11 Associate Members which are foreign and local business assocations and chambers of commerce in Vietnam.