Vietnam has accelerated its international economic integration by signing the Trans-Pacific Partnership agreement and joining the Asean Economic Community.
This year the Ministry of Industry and Trade hopes to increase exports 10 percent, continue administrative reforms, and help businesses make the most of opportunities created by free trade agreements.
Minister of Industry and Trade Vu Huy Hoang said effective implementation of free trade agreements and expanding export markets are pre-conditions for achieving 10 percent export growth. It is also necessary that banks help businesses access credit, that interest rates are adjusted to encourage exports, and that tax, customs, and licensing procedures are simplified. minister Hoang said: “Vietnam has signed many free trade agreements. We should publicise Vietnam’s free trade agreements and the opportunities they create and supplement or revise laws to facilitate integration.”
The Ministry of Industry and Trade has worked out an administrative reform plan for 2016. minister Hoang said: “Cumbersome procedures should be eliminated and new procedures should be simple and convenient for organisations and individuals. Online public services should be improved to save time and minimise problems.”
The Ministry of Industry and Trade will cooperate with other ministries and sectors to carry out the free trade agreements Vietnam has signed. It is encouraging and helping Vietnamese businesses to make the most of opportunities brought by Vietnam’s international economic integration.
Source: VOV5
Key words: Businesses, supported, integration
