Vietnam courts overseas diaspora to boost digitization, exports

06:00 | 22/11/2020 Cooperation

(VEN) - Overseas Vietnamese are doing business in Vietnam effectively with about 3,000 projects and total registered capital of about US$4 billion, creating jobs and contributing to economic growth. The overseas Vietnamese community also plays a very important role in trade promotion activities which help bring Vietnamese goods and services to global markets.

vietnam courts overseas diaspora to boost digitization exports
Vice chair of the HCMC People’s Committee Le Thanh Liem (left) meets with overseas Vietnamese

Huge economic resources

According to Ambassador Luong Thanh Nghi, Vice Chair of the State Committee for Overseas Vietnamese under the Ministry of Foreign Affairs, more than 5.3 million Vietnamese live in 130 countries and territories, deeply integrating into every sphere of life from politics, economy to culture and society. This constantly growing community has made significant contributions to the country’s socioeconomic development. Since 1990, remittances have now reached about US$170 billion.

The Vietnamese diaspora also contributes expertise and connections to its homeland. Every year, some 500 overseas Vietnamese experts return to Vietnam to collaborate with the government, ministries, sectors, localities, research institutes and universities in many fields.

Vice chair of the Ho Chi Minh City People’s Committee Le Thanh Liem noted that in 2020, the overseas Vietnamese business community helped confront the Covid-19 pandemic in Vietnam, maintain trade connections and speed up economic recovery.

Despite the pandemic, in the first nine months of this year the remittance flows into Ho Chi Minh City reached US$4 billion, representing a rise of two percent over the same period last year. The figure is expected to reach US$5.5 billion for the year, up 0.82 percent year on year.

vietnam courts overseas diaspora to boost digitization exports

Keep promoting the strength of overseas Vietnamese

Tran Hai Linh, Chair of the Vietnam-Korea Businessmen and Investment Association (VKBIA), said his organization is working to overcome difficulties in connecting trade and exchange between Vietnam and the Republic of Korea (RoK) caused by the pandemic.

VKBIA has cooperated with the Embassy of the RoK in Vietnam and the Ministry of Foreign Affairs to organize a “Meeting Korea 2020” program, which attracted nearly 1,000 representatives of large, medium and small Korean enterprises to discuss exchange programs with localities in Vietnam.

The State Committee for Overseas Vietnamese plans to coordinate with ministries, sectors and business associations to disseminate the “Buy Vietnamese goods” campaign to a large number of overseas Vietnamese and introduce typical high quality products of each locality. It will also mobilize overseas Vietnamese experts, intellectuals and business people to transfer advanced technologies to improve production capacity and labor productivity in Vietnam.

Expatriates are especially important given Vietnam’s ambitious plans promoting the development of digital government, the digital economy, creative innovation and scientific applications, developing shared technology platforms and core national databases and ensuring safe technical infrastructure and information security.

Thanh Thanh