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PM weighs opportunities, challenges of WTO membership (09/11)

06/08/2010 - 123 Lượt xem

After formal approval to become the 150th member of the world's largest trade body, Vietnam would gain access to commodity and service markets in all WTO member states, with lower tariffs and non-discrimination treatment in line with their admission protocols, Dung wrote in an article published on the Government website.

Vietnam's investment environment would be further improved because the country has adapted its laws in conformity with a socialist-oriented market economy and made its administrative institutions more transparent in conformity with WTO regulations, he stressed.

Entering the WTO, he added, the country would gain equal status with other member countries and join the fight for a new economic order, which is more rational and conducive to the interests of the nation and business.

He remarked that admission to the global trade body and integration into the world economy would help accelerate the country’s reform process, and ensure more comprehensive and effective progress.

Together with great achievements after the past 20 years of renewal, accession to the WTO would heighten Vietnam's prestige in the international arena and help it carry out foreign policy more effectively.

Challenges

"While being clearly aware of the opportunities created by WTO entry, we should realize the challenges that we have to confront, especially when the country is at a low development level with weaknesses in State administration," Dung said.

He pointed out that these challenges stemmed from disparity between the nation's internal capacity and the requirements of integration.

Competition would heighten with the presence of more "rivals", Dung warned.

The distribution of interests brought about by globalization was not equal, Dung reckoned, stressing that this required the country to have correct welfare and social security policies and to grasp and thoroughly implement the Party's policy of "promoting economic growth in parallel with reducing poverty, and properly executing social progress and justice in each step of development."

Global economic integration has increased inter-dependence between countries, thus turmoil on the markets of other countries strongly the local market.

This required Vietnam to have a sound macro-economic policy, the ability to forecast and analyze circumstances and create effective administration mechanisms.

International integration would also pose new questions on environmental protection, national security and preserving cultural identity and traditions in the face of the global pursuit for a material lifestyle, Dung added.

The PM also mentioned that the Party Central Committee's fourth session would be held later this year and would discuss major policies and guidelines for achieving fast and sustainable growth as a WTO member.

A number of goals had already been identified to define these policies, including the completion of the legal and administrative system in order to quickly form uniform elements of a market economy and provide a legal foundation for the implementation of commitments to the WTO, he said.

The PM stated that administrative procedures must be streamlined to eliminate unnecessary procedures and shorten the time required for the establishment of enterprises and their participation in the market, helping commodities and services enter the market as soon as possible.

State administrative agencies must be reorganized, he said, to ensure coordinated and inter-industry vision and eliminating overlap and inefficiency in the formation and operation of administrative institutions.

Dung said the development of human resources must be undertaken through an educational reform strategy focusing on curricula, teaching methods and examination systems at all educational levels.

Focus must turn to the development of transportation and energy infrastructure with all possible resources, including foreign investment.

Economic re-structuring must be undertaken for agricultural and rural areas, gradually shifting agricultural workers to jobs in industrial production and services, increasing the budget for agriculture and rural areas shifting financial support formally reserved for the export of farm products towards developing irrigation and rural transportation.

Another must is the development of all forms of services with a focus on high value-added services, financial and banking services, telecommunications, tourism, and consultancy services.

The nation must unite to promote areas with existing competitive advantages and potential for market expansion, he said.

The reform of State-owned enterprises must also be quickened, Dung said, to encourage investment in production and business and the development of forms of enterprises, and support of small and medium-sized enterprises.

The PM also advised that the competitiveness of Vietnamese enterprises must be enhanced as WTO membership takes hold.

He also stated that the leadership of the Communist Party of Vietnam must be ensured, to uphold the spirit of national independence, autonomy, sovereignty and development.

Source: VNA