PM highlights economic integration

PM Nguyen Tan Dung - Photo: VGP

In opening the event which themed “Courageous Transformation for Inclusion and Integration”, PM Dung said Viet Nam has always actively integrated into the regional and global economy both in depth and on wide scale. 

He said over the past two decades, it is this active integration and economic shifting from a centralised to market economy, plus its timely policy adjustments, that has enabled Viet Nam to overcome all difficulties and challenges to record significant achievements. 

In an era of globalisation, besides a nation’s own efforts, developing countries such as Viet Nam need the necessary and sufficient conditions of a peaceful, stable and cooperative international environment on the basis of respect for international law, free trade and investment through economic connectivity and effective cooperation among countries in handling the common challenges of the region and the world, so that they can fulfil the goals in development, poverty reduction and industrialisation, said the PM. 

Therefore, he emphasised the special significance of the increasingly strong international integration process in East Asia in general and ASEAN in particular, while underscoring the efforts to strengthen connectivity and economic links among ASEAN mainland countries or the Mekong region, including the establishment of trans-national economic corridors, which he said, is an indispensable part of the integration process. 

Since 1998, with the support of the Asian Development Bank, regional countries have constructed a series of economic corridors to promote trade among countries and increase the region’s competitiveness, develop an infrastructure system and create development opportunities for remote areas, the PM noted. 

He said the corridors will serve as bridges linking South, Central and East Asia, as well as the Indian and Pacific Oceans, crucial for any businesses with a desire to expand their markets. 

However, in order to become truly prosperous corridors, besides the efforts of governments, the support of development partners and the engagement of the private sector are necessary, he added. 

The Vietnamese PM called on businesses to invest in socio-economic development projects in localities along the corridors both for the benefit of themselves as well as the community and the entire region. 

The Vietnamese Government is willing to talk with enterprises to continue improving its open, healthy and favourable business environment and ensuring the interest of all parties, he affirmed. 

PM Dung also asked all countries along the corridors and partners to further foster their cooperation to timely tackle difficulties and obstacles and step up the development of the corridors. 

PM Dung said the focuses of the forum – regional transformation and integration – are a sound and timely choice due to the close relation between these processes and the necessity of taking drastic steps to help each country and the whole region overcome challenges to reach the set common goal, especially on the threshold of the formation of an ASEAN Community by 2015. 

He stressed that the East Asian region, which is developing dynamically, is home to world-leading economies as well as many emerging ones, with the guiding trend of multi-layer and multi-field cooperation for common development and benefits. This opportunity also requires countries to exert efforts to reform, self-complete and adapt to the increasingly competitive and integrated environment. 

PM Dung’s participation at the forum was at the invitation of the host country’s President Thein Sein and World Economic Forum Chairman Klaus Schwab. 

The three-day event attracted the participation of over 900 delegates, who are policy makers and leaders of leading corporations and organisations inside and outside the region, such as the Myanmar President, the Lao Prime Minister, the UNDP Administrator and leaders from OECD and ADB. 

The event focused on promoting the comprehensive transformation of Myanmar, the regional integration process and measures to cope with regional and global challenges.-VNA