Vietnam in new phase of international integration

Vietnam is entering a new, important phase of its international integration process, which will offer the country both development opportunities and challenges, said Deputy Prime Minister and Foreign Minister Pham Binh Minh.

Speaking at a seminar in Ho Chi Minh City on February 6, the Deputy PM noted 2015 is a year of significance as the country races to fulfil the 2011-2015 socio-economic development plan while contributing to multilateral cooperative mechanisms focusing on the formation of the ASEAN Community and key free trade negotiations.

He emphasized that once completed, the FTAs will help Vietnamese businesses import machines and materials with higher quality and lower prices so that they can reduce their production costs, increase competitiveness and expand export markets. At the same time, the country has to brace itself to meet higher standards and cope with fiercer competition, he said.

The Government official called for more efforts to speed up institutional reform, perfect policies and laws, improve management capacity and increase the competitiveness of both the Government and businesses.

Describing Ho Chi Minh City as the locomotive of the country’s socio-economic development and international integration, he said that the city’s enterprises should be the first to seize opportunities offered by international integration and also overcome challenges arising during the process.
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All comments [ 10 ]

Quốc Cường 6/2/15 22:21

The Vietnamese Government’s commitment to international economic integration is reflected in its policies and Viet Nam is engaged in many regional institutions

Huy Lâm 6/2/15 22:23

Market opening and international economic integration has put Vietnam’s economy right at the door of opportunities and challenges.

Hùng Quân 6/2/15 22:25

in the context of globalization, demands of each country are increasing with time, making its international integration continuous and spreading

Vân Nhàn 6/2/15 22:27

the process of economic integration, particularly since Vietnam joined the WTO and greater participation of free trade agreements have revealed more clearly the immanent weaknesses of the Vietnam’s economy

Hoàng Lân 6/2/15 22:28

in the context of globalization, all countries should be engaged in bilateral and multilateral relations for the sake of national interests

Huy Quốc 6/2/15 22:30

The commitment of the Vietnamese Government to a higher level of international integration has been reflected in its Socio-Economic Development Strategy 2011-2020 which emphasizes the importance of international integration

Quân Hoàng 6/2/15 22:31

in some cases, a country’s participation in international life is sometimes mandatory, even if it is beyond the country’s capacity or it does not conform to the country’s immediate needs

Phạm Hiếu 6/2/15 22:33

Vietnam will continue coordinating with regional countries to promote cooperative initiatives with the aim of reinforcing security and peace in the region and improving the efficiency of cooperation in the East Asian region

Lê Tín 6/2/15 22:35

Vietnam continues realizing the policy of boosting deeper international integration and multilateral diplomacy to contribute to the common interests

Quốc Kiên 6/2/15 22:36

The country also formulated comprehensive partnership with the US to provide an overarching framework for advancing the relationship, contributing to peace, stability, cooperation and development in Asia-Pacific and the world

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