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Vietnam to improve market economy, deepen world economic integration
Vietnam to improve market economy, deepen world economic integration
13/2/15
Vietnam will try its best to further improve market economy institutions and strengthen its integration into the world economy, Deputy Prime Minister Pham Binh Minh has said.
Deputy PM Minh, who is also Minister of Foreign Affairs, made the statement when he hosted a year-end get-together with the diplomatic corps in Hanoi on Wednesday, according to the Vietnam News Agency.
The official also said the Vietnamese government will continue bettering its market economy institutions, policies and laws and improving the business and investment climate, making it easier for the country to integrate into the international economy.
Vietnam will actively take part in global security and development issues as well as in responding to global challenges including climate change, water and energy security, he said.
Deputy PM Minh assured his guests that Vietnam is determined to deepen ties with countries worldwide in 2015, an important year for the Southeast Asian nation as it will mark the birth of the ASEAN Community and the enforcement of many free trade agreements.
Minh stressed that countries should respect mutual interests, comply with international law, demonstrate goodwill for cooperation for the sake of peace and development of all parties concerned.
Moroccan Ambassador and head of the diplomatic corps El Houcine Fardani praised Vietnam as an active and responsible member of the international community.
The fact that Vietnam has been elected as a member of the UnitedNations Human Rights Council proves the world's recognition of the country’s progress in improving human rights, the ambassador said.
The official also said the Vietnamese government will continue bettering its market economy institutions, policies and laws and improving the business and investment climate, making it easier for the country to integrate into the international economy.
Vietnam will actively take part in global security and development issues as well as in responding to global challenges including climate change, water and energy security, he said.
Deputy PM Minh assured his guests that Vietnam is determined to deepen ties with countries worldwide in 2015, an important year for the Southeast Asian nation as it will mark the birth of the ASEAN Community and the enforcement of many free trade agreements.
Minh stressed that countries should respect mutual interests, comply with international law, demonstrate goodwill for cooperation for the sake of peace and development of all parties concerned.
Moroccan Ambassador and head of the diplomatic corps El Houcine Fardani praised Vietnam as an active and responsible member of the international community.
The fact that Vietnam has been elected as a member of the UnitedNations Human Rights Council proves the world's recognition of the country’s progress in improving human rights, the ambassador said.
He highly valued Vietnam’s preparations for the 132nd General Assembly of the Inter-Parliamentary Union (IPU) slated for March this year.
The diplomat also hailed the country for overcoming challenges regarding maritime disputes.
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All comments [ 10 ]
Trans-Pacific Strategic Partnership Agreement (TPP) and several free trade agreements are expected to be signed soon and they will provide huge opportunities for the breakthrough development of Vietnam
However, to seize these opportunities, businesses need to identify their market positions and products as well as satisfy requirements for quality and model.
Vietnam has been gradually deepening its integration into the world economy.
The WTO entry in 2007 has brought a lot of remarkable achievements in promoting economic growth, especially international trade.
The effect of these trade agreements is forecast to be greater than the WTO entry, particularly for export-oriented industries.
The FTAs between Vietnam and the EU and between Vietnam and the Russia Customs of Union - Belarus - Kazakhstan, which are under negotiation, also present great opportunities.
Besides, many foreign parts manufacturers will locate their projects in Vietnam and this is another plus for many industries .
The biggest challenge for Vietnamese firms is how to approach TPP countries when inputs are mainly imported from non-TPP members.
The sector will encounter difficulties in production mode because many companies are offshore contractors for foreign partners. Many take on low-value stages in the global supply chain.
Besides, they lack experience in building independent brands. This is very important when branding and intellectual property are of deep concern as now.
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