ASEAN-US business alliance launched
ASEAN-US business alliance launched
A new partnership to promote small and medium enterprise (SME) development and growth to bolster trade across the region was launched last week.
Formed by the US-ASEAN Business Council and the US Agency for International Development (USAID), the alliance focuses on training, sharing of information and mentoring and builds on the council’s SME training programme created at the request of ASEAN’s economic ministers in 2011.
The new partnership will support exports by Vietnamese companies and make it easier to be more internationally competitive, as firms benefit from leadership training for high-growth SMEs and strong corporate governance and business ethics, according to USAID Vietnam Mission director Joakim Parker.
The alliance launch was announced during a Ho Chi Minh City workshop, which provided more than 100 Vietnamese entrepreneurs with skills and knowledge to enter international markets. Experts from Baker and McKenzie, Coca-Cola, Google, Microsoft and UPS shared insights on cross-border e-commerce, exporting to global markets, and best practices among global.
Vu Tu Thanh, Vietnam chief representative of the council, said the partnership’s mentoring programme would select Vietnamese companies to receive free advice from US companies. Google would provide a free training programme on marketing, and UPS would join hands with Google in this technical assistance package to help Vietnamese companies streamline their logistics and customs practices.
Thanh said firms would be judged on their potential, not the of their exports, but they had to operate an effective business model. Other criteria include their cash flows in recent years, customer base, key clients, and signed contracts. For example, a company that had sold coffee to Wal-Mart for several years might be selected.
The new US-ASEAN Business Alliance is also working to establish a cloud-based portal to support Southeast Asian SMEs.
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