Agreement inked to boost businesses’ technology transfer

The Ho Chi Minh City Union of Business Associations (HUBA) has signed an agreement with the American Chamber of Commerce in Vietnam (AmCham Vietnam) to promote their members' partnership in transferring technology and expanding investment chances.

Speaking at the signing ceremony on Saturday, HUBA Chairman Chu Tien Dung said boosting the connectivity and technology transfer between FDI and domestic businesses is a target of his union' cooperation with foreign business associations in Vietnam in the time ahead. Vietnam has been attracting a relatively big flow of foreign investment, but FDI firms' transfer and domestic companies' absorption of technology remain modest, he noted. He noted that the agreement between HUBA and AmCham is one of the first steps to improve bilateral cooperation to support their member entrepreneurs and businesses in transferring technology, expanding investment chances and developing the market in the two countries.

Executive Director of AmCham Vietnam John Rockhold said trade and investment ties between Vietnam and the US are developing well. To boost the connectivity between US and Vietnamese firms, AmCham will actively realize the cooperation deal. In particular, they will regularly organize meetings and exchanges between enterprises to share experience and discuss investment and business opportunities. He added that AmCham will also encourage US companies to share experience, assist and transfer new technologies, and seek and introduce development supporting resources to Vietnamese firms to build a basis for cooperation and mutual support towards sustainable development in the future.

Source: VOV5