Self-renewal for effective integration in post-WTO era
VGP – At the conference titled “Assessing impacts of international economic integration after two years Việt Nam joined WTO” held today, many participants agreed that it is time for enterprises to "renew themselves" by upgrading technology, restructuring products, changing ways of thinking in management and business.
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After two years joining WTO, Việt Nam has become an attractive destination for international investors, say experts |
Over the past two years after WTO accession, most of Vietnamese enterprises have had more opportunities to access to credits, modern technologies and various materials and services. Việt Nam has become an attractive destination for foreign investors and the FDI capital into the country is increasing year on year.
However, the opening of the domestic market has led Vietnamese businesses to severe international competition as well as rapid and direct impacts of any change in the world market.
"After joining WTO, domestic enterprises should manage to response to the situations in a rapid and sharp manner", said former Deputy PM Vũ Khoan.
They should restructure five factors - capital, organization, technology, product and market. More than ever, they should pay attention to the domestic market of 85 million people, especially in the context of the shrink of the world market.
Former Trade Minister Trương Đình Tuyển suggested that Việt Nam should perfect its market economy, renew growth model, nurture human resources, and complete the system of policies and laws, so as to integrate into the international economy more fruitfully.
Experts also proposed the designing and implementation of strategies to diversify markets and prevent external negative impacts.
By Phương Hạnh
