Illustrative photo (Source: VNA) Hanoi (VNA) - A workshop discussing measuresto improve the effectiveness of the implementation of the Regional ComprehensiveEconomic Partnership (RCEP) agreement and enhance the autonomy of Vietnam’s economyin the context of international integration was held on January 20 in Hanoi.
The workshop, "Making RCEP work for economic well-being and autonomy inVietnam: Required reform of trade and investment institutions", was co-hosted by the Central Institutefor Economic Management (CIEM) and the Australia Supports Economic Reform in Vietnam(Aus4Reform) programme.
It aims to assess trade and investment activities between Vietnam andother RCEP members, clarify institutional and structural issues that mayaffect the ability to take advantage of the opportunities, and address the challengesposed by the deal, thus proposing institutional reforms.
According to CIEM Director Dr Tran Thi Hong Minh, in addition to efforts to realise the “dual goal” of controlling COVID-19and resolving the difficulties and challenges posed by the pandemic for businessand production, Vietnam has continually integrated into the internationaleconomy and posted outstanding results.
The RCEP creates a large market of great potential for Vietnamese exports,analysts said, adding that the country’s imports can also benefit from theagreement.
Joining the deal also presents more opportunities for Vietnam to attract FDI frominvestment being shifted out of China due to the impact of the US-China trade andtechnology war, participants said.
They also underlined the importance of institutional reform in improving the nationaleconomy’s autonomy./.
VNA
