In his speech, the cabinet leader said the Vietnamese government considers international economic integration a momentum for economic reform and growth.

It is essential to reorganize the economy internally in line with a socialist-oriented market economy to match international economic integration. Reform should cover production, food safety, trademark building, and growth model. The facilitating government should promote its role and fine tune mechanisms towards a better business environment, he said.

PM Phuc, who is also Head of the National Steering Committee on International Integration, reviewed Vietnam’s achievements including import-export revenue of nearly US$400 billion and trade surplus exceeding US$3 billion for the first time.

He said international economic integration helped the country attract approximately 14 million visitors this year, making tourism a spearhead industry in the economy. Vietnam has signed numerous new free trade agreements, paving the way for market expansion.

The Prime Minister called on ministries and sectors to expedite the implementation of action plans to obtain practical results across a variety of fields.

To realize its integration commitments, Vietnam is doubling effort to enhance economic reform, from reorganising production, building brands to renewing growth model, and improving the economy’s competitiveness and legal institutions so as to create a better business climate for domestic and foreign investors, he said.

He asked the Inter-sectoral Steering Committee for International Economic Integration to enhance connections and coordinate ministries, sectors and localities to effectively implement the international economic integration work and examine international economic integration agreements, especially commitments in free trade agreements (FTAs). 

He underlined the need for business to to study FTAs in order to build their own business plans and cope with challenges while urging small- and medium-sized enterprises (SMEs) should promote their linkages via associations to protect their legitimate rights in the context of increasingly fierce competition, and to deal with new international trade barriers.

The cabinet leader also emphasized the important role played by businesses, private enterprises in particular, saying that the private sector is a driving force of the national economy.

Echoing views of participants at the forum, PM Phuc underscored the necessity of increasing labour productivity, developing human resources, improving national governance capacity, along with utilizing internal resources and  taking full advantage of international integration opportunities and the 4th industrial revolution.

He also called for and hailed support and cooperation from international partners and community for Vietnam’s economic development. 

The PM asked the Inter-sectoral Steering Committee for International Economic Integration to closely coordinate with domestic and foreign research agencies to promote researches on strategic issues regading international economic integration to provide advice to the Government in the policymaking process. 

The forum, hosted by the Inter-sectoral Steering Committee for International Economic Integration, saw the attendance of 300 domestic and foreign delegates.

Source: vov.vn