President Truong Tan Sang at the press conference on the threshold of the New Year 2016. (Source: VNA)

Hanoi (VNA) – President Truong Tan Sang has called for greater efforts in 2016 and the next five years to bring into full play opportunities brought by the wider and deeper international economic integration.

In his interview granted to the press on the threshold of the New Year 2016, the State leader said that a number of bilateral and multilateral free trade agreements signed in 2015 will help expand the market, mobilise more resources and boost advanced technology transfer. However, they also pose huge challenges to the local economy and business community.

Although 2015 was a difficult year, both domestically and regionally, Vietnam still saw positive socio-economic development, relatively high economic growth and macro-economic stability, he said.

He expressed his belief that with the strength of the country, the leadership of the Party and State, and the growth of the entrepreneur community, Vietnam’s integration in the new period will be a success.

When being asked about how to have a professional state apparatus to meet new integration requirements, President Sang emphasised the need to increase the validity and efficiency of State management.

“To develop the country during the integration process, it is necessary to have closer coordination between domestic and foreign resources, in which the former are decisive and the later are extremely important,” he suggested.

However, alongside integration, Vietnam should build an independent and self-reliant economy, he added.

According to the President, in the coming times, official development assistance (ODA) and foreign direct investment (FDI) poured into Vietnam may continue rising.

However, the country should not rely much on these two resources as after 2017-2018, ODA interest rates imposed on Vietnam, a middle-income country, will be higher than that of the past 30 years.

The country can also attract more foreign investments, but needs to select them thoroughly so as to boost its economic restructuring.

President Truong Tan Sang went on to say that during the resources mobilisation process, corruption prevention and thrift practice continue to be a consistent policy and action of all sectors at all levels.

He requested close management and effective use of the resources, especially the prevention of corruption and wastefulness.

When any negative problem arises, both individual and collective involved have to bear responsibility for it, he noted.

Regarding factors that help Vietnam overcome serious challenges on territorial integrity and sovereignty, the President said that in the context of globalisation, Vietnam wishes to be a friend of all nations in the international community, for peace, cooperation and development.

“The more our friends are, the bigger the international community’s support for our national renewal, construction and defence is. This creates a great strength for us to firmly safeguard sovereignty and territorial integrity,” he affirmed.

With the continued implementation of the policy of “more friends, fewer enemies” and “putting the past behind and looking towards the future”, Vietnam will surely receive bigger support from the world, and achieve more stable growth, thus helping the country overcome all challenges and firmly safeguard its national sovereignty and territorial integrity, he concluded.-VNA