A Legacy of Leadership: The Impact of Vu Tien Loc on Vietnam’s Business Community

During his tenure, Mr. Vu Tien Loc left a lasting impact on the legislative arena and made significant contributions to the growth and development of the business community. His legacy is marked by a strong commitment to fostering a thriving business environment and leaving a positive, lasting impression on the nation's business landscape.

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Work History of Vu Tien Loc

Vu Tien Loc during an interview with Cong Thuong Newspaper reporters (Photo: Bui Hung)

– November 1982 – January 1984: Vu Tien Loc was a researcher at the Central Institute for Economic Management Research (under the Ministry of Planning and Investment).

– February 1984 – February 1986: Soldier in the Tactical Battalion of the 204th Rocket Artillery Regiment, Artillery Corps.

– March 1986 – March 1993: Specialist, Deputy Head of Department (from November 1991), Secretary of the Party Branch, Central Institute for Economic Management.

– April 1993 – April 2003: Party Committee Member, Head of Department – Chief of Office, then Deputy General Secretary and General Secretary of the Vietnam Chamber of Commerce and Industry, now known as the Vietnam Chamber of Commerce and Industry (VCCI) (until April 2001); Head of the Small and Medium Enterprise Committee; Editor-in-Chief of the newspaper “Enterprise Forum”, Editor-in-Chief of the English-language magazine “Vietnam Business Forum”; Member of the Party Committee, Vice President of VCCI (from May 2001); Member of the 11th National Assembly, Member of the National Assembly’s Committee for Economic and Budget Affairs.

– April 2003 – May 2016: Secretary of the Party Committee, President of VCCI, President of the Central Council of Vietnamese Business Associations, Member of the 11th, 12th, and 13th National Assembly; Member of the National Assembly’s Committee for Economic and Budget Affairs in the 11th term; Member of the National Assembly’s Committee for Economic Affairs in the 12th and 13th terms; Member of the Presidium of the Vietnam Fatherland Front Central Committee in the 6th, 7th, and 8th terms; Vice President of the Prime Minister’s Advisory Council for Administrative Procedure Reform; President of the Vietnam Committee for the Pacific Economic Cooperation Council (VN PECC); President of the ASEAN Chambers of Commerce and Industry.

– 2016 – September 2021: Secretary of the Party Committee, President of VCCI; President of the Central Council of Vietnamese Business Associations; Member of the National Assembly’s Committee for Economic Affairs; Member of the Presidium of the Vietnam Fatherland Front Central Committee; Vice President of the National Council for Sustainable Development and Competitiveness Enhancement; Vice President of the Prime Minister’s Advisory Council for Administrative Procedure Reform; President of the Vietnam Business Council for APEC (ABAC); Member of the World Chambers Federation (WCF) Leadership Team.

– July 2021 – present: Member of the 15th National Assembly, Member of the National Assembly’s Committee for Economic Affairs.

– September 2021 – present: President of the Vietnam International Arbitration Center (VIAC).

Vu Tien Loc left many impressive marks on the National Assembly

Contributions of Vu Tien Loc

Vu Tien Loc is currently the President of the Vietnam International Arbitration Center (VIAC). He has been a member of the National Assembly from the 11th to the 15th term and a member of the National Assembly’s Committee for Economic Affairs from the 12th term until now. Previously, Vu Tien Loc served as the President of VCCI for 18 years, from 2003 to 2021.

Vu Tien Loc has made significant contributions and left many impressive marks on the National Assembly, actively supporting the development of the business community. In 2004, he proposed to the Prime Minister, along with other business associations, to choose October 13th as Vietnam Entrepreneurs’ Day. He also initiated and suggested to the 13th National Assembly to constitutionally recognize the role of enterprises and entrepreneurs.

During his time as VCCI President, he proposed to officially recognize household businesses in the Enterprise Law, increasing transparency and competitiveness in a sector contributing up to 30% of GDP.

Vu Tien Loc also initiated many programs to support the development of small and medium-sized enterprises and national startups. During this period, the organization representing the business community also researched and published the Provincial Competitiveness Index (PCI) and the Corporate Sustainability Index (CSI).

Vu Tien Loc frequently chaired policy dialogues between the government and businesses, as well as major business summits and forums in Vietnam and abroad. He chaired the APEC CEO Summit in 2006 and 2017 and founded and managed the annual Vietnam Business Summit (VBS) for many years.

Additionally, Vu Tien Loc held various positions, including Member of the Presidium of the Vietnam Fatherland Front Central Committee, Vice President of the National Council for Sustainable Development and Competitiveness Enhancement, Vice President of the Prime Minister’s Advisory Council for Administrative Procedure Reform, President of the Vietnam Public-Private Partnership Committee, President of the Central Council of Vietnamese Business Associations, and President of the Vietnam Business Forum (VBF) Alliance.

Confirmed sources state that Vu Tien Loc, President of the Vietnam International Arbitration Center and former President of the Vietnam Chamber of Commerce and Industry (VCCI), passed away at 5 am on August 5th, 2024.

Vu Tien Loc was born in 1960 in Thai Binh province. He held a Doctorate in Economics, a Senior Political Theory degree, and had taught at various universities in Vietnam and abroad.