Mr Khuong, who is also Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), said that one of the major tasks of the council is to make recommendations to the governments of Vietnam and other ASEAN members so that all policies can be made in line with the development of the Vietnamese business community.

Under its action plan, which was announced at the opening ceremony, ASEAN BAC Vietnam will focus on information, counseling, training and project making in order to improve Vietnamese businesses' competitive capacity to integrate into the international economy.

In 2006, ASEAN BAC Vietnam plans to create a website to provide domestic business information as well as to introduce Vietnam's investment environment to the regional business community. It will also chair conferences and business forums among ASEAN businesses and its partners and work out projects to improve Vietnam's competitive edge in the banking and tourism sectors.