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

Work History of Vu Tien Loc

– 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 Combat Department of the 204th 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 – Office Chief, then Deputy General Secretary and General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) (until April 2001); Head of the Small and Medium Enterprise Committee; Editor-in-Chief of the “Enterprise Forum” newspaper, and 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, and a member of the National Assembly’s Economic and Budget Committee.

– 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 Economic and Budget Committee of the 11th National Assembly; Member of the Economic Committee of the 12th and 13th National Assembly; Member of the Presidium of the Vietnam Fatherland Front Central Committee in the 6th, 7th, and 8th tenure; 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); and President of the ASEAN Chamber 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 Economic Committee; 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); and Member of the World Chambers Federation (WCF) Leadership Team.

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

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

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 tenure and a member of the National Assembly’s Economic Committee since the 12th tenure. 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 remarkable impressions in the National Assembly, actively supporting the development of the business community. In 2004, he, together with business associations, proposed to the Prime Minister to choose October 13 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 directed 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.