Former VCCI president Vu Tien Loc passes away

Vu Tien Loc, president of the Vietnam International Arbitration Center (VIAC) and former president of the Vietnam Chamber of Commerce and Industry (VCCI), passed away at 5 a.m. Monday, at the age of 64.

Loc, born in 1960 in Thai Binh province, has a doctorate degree in economics. He was a National Assembly member for the terms 11th-15th, and a member of the legislature’s Economic Committee for the terms 12th-15th - the current term.

He was president of VCCI, which presents the voices of the business community, for 18 years, from 2003 to 2021.

Vu Tien Loc made very positive contributions to the National Assembly, the country’s highest legislative body, and the development of the business community.

In 2004, Loc and business associations proposed the Prime Minister choose October 13 as the Vietnamese Entrepreneurs’ Day.

He was the one who proposed the National Assembly define the role of businesses and entrepreneurs in the country's Constitution.

Under Loc’s leadership, VCCI had many programs to support the development of small and medium-sized enterprises and the national endeavor to bolster startups.

In 2005, together with USAID, the chamber launched the high-profile Provincial Competitiveness Index (PCI). The index reflects the economic governance quality of cities and provinces in creating a favorable business environment for the private sector. It launched the Sustainable Development Business Index (CSI) in 2016.

Loc chaired many business forums and policy dialogues between the Government and businesses. He was chairman of the APEC Business Leaders Summit (APEC CEO Summit) in 2006 and 2017.

Loc founded the annual Vietnam Business Summit (VBS) and was one of the operators of the summit for many years.