Government asks for measures to restructure industrial sector hinh anh 1Illustrative image (Source: VNA)

Hanoi (VNA) – The Government has asked for drastic measures to review and choose suitable foreign-invested projects, while applying solutions to attract investment and technology transfer from world leading firms with environmentally friendly high technologies.

According to Resolution No. 50/NQ-CP, the Government requested the Ministry of Industry and Trade (MoIT) to work harder to transform the structure of the industrial sector towards higher ratio of processing and supporting industry, with greater attention to spare part and accessory production.

The MoIT should collaborate with relevant ministries, sectors and agencies to strengthen State management to prevent avoidance of trade defence measures and origin frauds, while tightening the issuance of certificates of origin.

At the same time, strict disciplines should be applied to handle violations in Vietnamese-origin claims.

The Government ordered the ministry to increase communications to popularize opportunities and challenges from free trade agreements that Vietnam has signed, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the EU-Vietnam Investment Protection Agreement (EVIPA).

The ministry was requested to coordinate with other ministries and sectors to finalise procedures, enabling the National Assembly to approve the EVFTA and EVIPA at the eight session scheduled to take place later this year.-VNA