Int'l integration boosts economy
Int'l integration boosts economy
Viet Nam should promote international economic integration by actively joining global value chains, heard a conference yesterday in Ha Noi.
Participants focused on how to foster international economic integration in each locality, underscoring the need to attract investment to mountainous provinces.
Deputy Minister of Industry and Trade Nguyen Cam Tu highlighted the country's efforts to integrate into the regional and global economies, saying that the process had helped strengthen the country's power and improve living conditions.
Viet Nam had expanded and deepened its ties with other nations while participating actively and responsibly in international forums and organisations, Tu noted.
Extensive international economic integration had greatly benefited the country's economic development, according to the Deputy Minister.
Viet Nam has exported goods to 230 countries and territories, with its export turnover increasing 22.58 per cent per year during the 2011-2013 period. Its business climate has also improved, facilitating enterprises' participation in global value chains.
Joining three value chains, the country played an increasingly important role in the global economy, said Trinh Minh Anh, deputy chief of the Office of the Interdisciplinary Steering Committee for international economic integration.
He added that a number of Vietnamese products had become well-known and competitive in the world market.
