Global economic integration is one of the main driving forces for a higher national competitiveness and sustainable development, requiring strong efforts from Vietnam to make this process more efficient and substantial, PM Phuc said in an instruction cited by the government portal.
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According to the PM, the world has witnessed a growing trend of linkages among trade and investment activities, as well as the introduction of new-generation bilateral and multilateral free trade agreements, putting pressure on Vietnam to be more active in integrating to the world economy.
Phuc expected economic integration to become one of Vietnam's main instruments in supporting Vietnam's sustainable development, and protecting the country's sovereign and national security.
From now on until 2021, the PM requested an efficient implementation of policies and action plans on global economic integration, focusing on a higher capabilities of fulfilling international economic commitments.
Moreover, Vietnam will push forward with the ongoing economic restructuring effort, aiming to improve the country's competitiveness and create favorable economic and investment environments for all.
The PM identified enterprises, especially the private sector as the main actor during Vietnam's quest for development, for which the government will be supportive for this sector.
One of the key tasks mentioned by the PM is to resolve pending issues towards the signing and approval of EU - Vietnam FTA (EVFTA) and the approval of Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The Ministry of Industry and Trade is responsible to evaluate the impact of the elimination of tariff barriers for commodities imported from ASEAN countries, of which over 90% of the goods under the ASEAN trade agreement (ATIGA) will bear zero tariff.
Meanwhile, the PM requested the Ministry of Foreign Affairs to focus on contributing to the establishment of ASEAN Economic Community 2025, 2030 sustainable development goals, and commitments to WTO and new-generation FTAs, while the Ministry of Finance is asked to continue the reform efforts in administrative procedures, contributing to a higher national competitiveness.
