SOME NOTES ON INTERACTING WITH THE VIETNAM BUSINESS SOCIETY IN BANGLADESH
Since officially commencing operations, the Vietnam Business Society in Bangladesh (VBS) has performed well in its role of connecting, sharing information with, and supporting Vietnamese businesses. Through concrete solutions, together with the diplomatic representative offices and relevant authorities of Vietnam and Bangladesh, practical recommendations, proposals, and solutions have effectively helped resolve difficulties for the business community. VBS has made a significant contribution to growing Vietnam-Bangladesh bilateral trade turnover (from over USD 800 million in 2020 to USD 1.2 billion in 2021, and projected to reach nearly USD 2 billion in 2022).
Starting with 28 member businesses, the number has now grown to 98 (100% of member businesses are actively trading with Bangladesh). VBS has grouped businesses by industry to increase competitiveness, and has also established effective information-exchange channels through traditional methods as well as certain social-media tools, with the sole purpose of ensuring timeliness and effectiveness. All costs of VBS’s operations are funded by the founding businesses; member businesses are not required to contribute any fees.
In recent times, VBS has increasingly reached out to and provided information through social media, and as a result has encountered a number of issues:
– Many traders and businesses (with unclear personal and business information) reach out for information and make basic, uninformed requests for responses (lacking understanding of international trade).
– A number of Facebook pages have taken advantage of the lack of restrictions on naming on social media, deliberately choosing confusingly similar names and making unofficial exchanges and promises that damage the organization’s reputation.
– Copying information from the Vietnam Business Society in Bangladesh for unclear purposes, including information about member businesses.
In light of the above, the Vietnam Business Society in Bangladesh advises businesses currently trading with, or interested in, the Bangladesh market as follows:
- When reaching out to the organization for information, VBS needs to know who you are, what field you do business in, and what aspect of Bangladesh you are interested in. If this information is not provided, we will not respond.
- Businesses that wish to join the organization must have a clearly defined line of business and basic knowledge of international trade. After completing, signing, and stamping the application form, VBS will publish the list of new members on the website on the 25th of each month and send a direct email response to the business.
- Information about member businesses displayed on the website is limited to the company name and its line of business in Bangladesh; other information will only be provided by VBS upon a legitimate request for access (with mutual agreement).
- The monthly trade newsletter will be sent directly to the business’s email; if there is no response within 3 days, it will be posted publicly on social media.
- Information support: details on tax policy, investment, technical barriers, etc. are only provided to member businesses or to businesses that submit a clear written request.
- Support in resolving payment, delivery, and commercial-dispute issues is provided only for clear, official documentation; VBS will decline to assist with unofficial transactions that do not follow international practice.
Sincerely thank you for your cooperation!