Prime Minister Nguyen Xuan Phuc speaks at the event (Source: VNA) Hanoi(VNA) – The Government of Vietnam has consistently pursued a comprehensiveintegration policy with the focus placed on international economic integration,considering this as a motivation to promote economic reform, growth anddevelopment, Prime Minister Nguyen Xuan Phuc has said.
PM Phuc, who is also Head of the National Steering Committee for International Integration,delivered the message at the Vietnam International Economic Integration Forum2017, which opened in Hanoi on December 20.
The PM highlighted Vietnam’srecent integration achievements and the role of foreign investment in thecountry’s economic development. Vietnam’s trade surplus exceeded 3 billion USDfor the first time and its import-export turnover in 2017 is likely to reach 420billion USD, he said, adding that the nation is now home to more than 24,000valid foreign-invested projects with a total registered capital of nearly 320billion USD.
To implement its integrationcommitments, Vietnam is making every effort to foster economic reform, from reorganisingproduction, building brands to renewing growth model, and improving theeconomy’s competitiveness and legal institutions in order to create a betterbusiness climate for domestic and foreign investors, PM Phuc said.
The government leaderasked ministries, sectors and localities to strongly and comprehensively implementthe international integration action plan in all aspects in parallel with the reformprocess.
Herequested the Inter-sectoral Steering Committee for International Economic Integration toenhance connections and coordinate ministries, sectors and localities toeffectively carry out the international economic integration work and examine internationaleconomic integration agreements, especially commitments in free trade agreements(FTAs).
The PM also underlinedthe important role played by businesses, especially private enterprises, sayingthat the private sector is a driving force of the national economy.
He called for more efforts from businesses to study FTAs, thus building theirown business plans and overcoming challenges. Small- and medium-sizedenterprises should foster linkages through associations to protect their legitimaterights in the context of increasing competition, and to deal with new internationaltrade barriers, the PM added.
Sharing opinions raisedby participants at the forum, PM Phuc stressed that attention should be paid toincreasing labour productivity, developing human resources, improving national governancecapacity, along with capitalising on internal resources and internationalintegration opportunities and the 4th industrial revolution.
He also took this occasion to call for and praise support and cooperation frominternational partners and community for Vietnam’s economic development.
The PM asked the Inter-sectoral Steering Committee for International Economic Integration to closelycoordinate with domestic and foreign research agencies to promote researches onstrategic issues concerning international economic integration, thus giving adviceto the Government in the policymaking process.
In his opening speech, Deputy PM Vuong Dinh Hue, who is also Head of the Inter-sectoralSteering Committee for International Economic Integration,said Vietnam is seeing both opportunities and challenges in the implementationof new-generation FTAs with higher commitments.
Huealso pointed out that Vietnamese businesses, of which more than 90 percent aresmall- and medium-sized enterprises, have shown their weaknesses in terms ofstrategic thought, technology and competitiveness when implementing integrationcommitments.
The forum, hosted bythe Inter-sectoral Steering Committee for InternationalEconomic Integration, comprises three working sessions with the participationof 300 domestic and foreign delegates.-VNA
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