(VOVworld) - Deputy Prime Minister Vuong Dinh Hue said Vietnam has striven to improve its economic competitiveness and build a new growth model based on creativity, productivity, quality, and efficiency. He made the remark at a function to welcome the 2017 Spring Forum held by the Asia Business Council in Ho Chi Minh City on Thursday. 
 

Deputy Prime Minister Vu Duc Dam

Vietnam has signed Free Trade Agreements with 56 countries and economic groups, including the WTO, ASEAN, ASEAN-Australia-New Zealand, the EU, the Eurasian Economic Union, Japan, and the Republic of Korea. Vietnam has signed the Trans-Pacific Partnership and will ratify the free trade agreement between ASEAN and the Regional Comprehensive Economic Partnership.

Results of global economic integration

Global economic integration has opened a new development space for Vietnam to deepen its cooperation with other countries, improve its production capacity, grow economically, enhance economic restructuring, and attract foreign direct investment. Global economic integration has helped Vietnam acquire advanced technology and managerial skills in industry, agriculture, culture, and society. Vietnamese businesses have opportunities to join regional value chains and production networks and shift their production to processing and manufacturing which uses advanced technology to create more added value.  

Vietnamese Ambassador to Germany Doan Xuan Hung

Chairperson of the Asia Business Council Lubna Olayan said the Council is impressed with Vietnam’s progress in economic recovery to achieve a stable growth rate. She said the Committee appreciates Vietnam’s determination to obtain sustainable and comprehensive economic growth and develop a dynamic economy with abundant qualified human resources.
Vietnamese Ambassador to Germany Doan Xuan Hung said: “Many German people have told me that Vietnam has truly opened its market. We have to grasp opportunities and connect the businesses of both countries.”

Danish Ambassador to Vietnam Charlotte Laursen said: "We've seen steady growth in Vietnam's integration into the world economy. They are very ambitious plans. I think Vietnam would gain much from these." 

Taking advantage of global integration

Vietnam has taken advantage of global integration for development and internal reform. The Vietnamese government is determined to improve growth and economic competitiveness.
Deputy Prime Minister Vu Duc Dam told delegates about a government resolution outlining the key tasks Vietnam will do to reach these goals: “The resolution recognizes international standards, including indicators and targets in the WB report on the business environment and the WEF Global Competitiveness Index report. It will help raise Vietnam’s profile and generate advantages for Vietnam in international trade negotiations and attracting foreign investment.”