Looking at Vietnam’s achievements in several areas, including economic growth pace, the country’s belief in the renewal process has been a success. Former General Director of the World Trade Organization Pascal Lamy made the remark during an interview with Vietnam News Agency.

Ten years after it became a member of the WTO in 2007, Vietnam has made significant progresses, including economic growth, foreign investment attraction, import-export, and tourism, among others.

According to Pascal Lamy, trade exchange and international relations have expanded as a result of the DoiMoi (renewal) policy. Through the country’s open door policy, many enterprises have grabbed a bigger share.

However, he added in the context of international integration, many challenges await Vietnamese enterprises.

Lamy said that to grow more, Vietnam needs to invest more in infrastructure and logistics.

He also said Vietnam needs to intensify product quality standard to meets world market standards, which could pressure the country’s enterprises. However, if the country was determined to follow international standards for its products, it will be an opportunity to lift the country’s economy.-VNA