(VOVworld) – A forum on Vietnamese business connectivity and integration in the time of new-generation FTAs opened in Hanoi on Thursday.

Delegates said Vietnam’s bilateral and multilateral FTAs have created opportunities for Vietnam’s development and international integration. Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) Hoang Quang Phong said that Vietnamese businesses need to restructure themselves, increase their competitivenss, and turn challenges into opportunities in order not to lag behind: “Globalization and competition are prompting Vietnamese enterprises to reach international standards in administration aiming towards sustainable growth. Connectivity and experience sharing are also required to expand investment cooperation with foreign partners.”

Speakers at the event said that in addition to the state increasing trade promotion, enterprises themselves should promote their products and invest more in equipment to produce higher quality products.