Roundtable dialogue with Vietnamese businesses

08:22 | 30/08/2014 Cooperation

(VEN) - Former WTO Director-General Pascal Lamy when addressing the roundtable dialogue with Vietnamese businesses said that Vietnam needed to further improve the legal system and resolve three key problems in the integration process.

Former WTO Director-General Pascal Lamy

Taking advantage of opportunities

Vietnam Chamber of Commerce and Industry (VCCI) Chairman Vu Tien Loc said that Vietnam’s achievements to be participated in the WTO remained extremely important.

The chairman also added that joining the WTO marked Vietnam’s strong socioeconomic development. Vietnam’s economy had made positive changes, especially in the 2007-2008 period.

However, after the prosperous period, Vietnam’s economy has slowed down. How to take advantage of opportunities since joining the WTO to develop the economy has become a difficult question for the government and state. Therefore, since the beginning months of this year, the Vietnamese government has issued mechanisms and policies in order to create an institutional breakthrough with a focus on reforming administrative procedures and restructuring enterprises.

In late 2012 and early 2013, time to address administrative procedures in the tax sector took 872 hours per year. The prime minister and the government decided to reduce its time to 171 hours per year by June 2015, equal to ASEAN standards. In addition, the government also made important resolutions in the privatization.

Improving legal system

Former WTO Director-General Pascal Lamy said that Vietnam needed to further improve the legal system to meet the WTO standards. He also added that the WTO stood ready to support Vietnam in building a roadmap for each specific phase in order to create a solid foundation in the global economic integration process.

According to Pascal Lamy, Vietnam also needed to resolve three key problems in the integration process, including creating favorable conditions for trade, improving the quality of logistics and harmonizing regulations and standards.

Firstly, Vietnam needs to create favorable conditions for trade as Vietnam’s system remains bureaucratic, causing negative impacts on the competitiveness and bringing disadvantages to consumers.

Secondly, if Vietnam improves the logistics system, it will bring practical benefits for the country.

Finally, harmonizing regulations and standards to protect consumers is needed. This factor plays a key role in the integration process.

“The main message I want to send to Vietnamese businesses is that you must look forward. Prospect of Vietnam’s economy in the next 5-10 years is bright. If you look at the trend, you will take the initiative to develop and protect its own interests as well as consumers,” Pascal Lamy said./.

By Hoa Le