Ha Noi (VNA) - After Viet Nam joined the World Trade Organisation (WTO), businesses from the Republic of Korea (RoK) have been able to facilitate operations in Viet Nam, said Young Woong Kim, General Director of the Korea Trade and Investment Promotion Agency (KOTRA) in Ha Noi.
Kim told a Viet Nam News Agency correspondent that after Viet Nam joined the WTO, the country's export markets have expanded markedly. Vietnamese goods are exported to almost all countries in the world with new tariffs benefiting exporters. RoK businesses in Viet Nam have also benefited from the tariff adjustment, he said. They can now directly export their products to major markets, including the US and the European Union, Kim said. He added that as a result, the output of these businesses, particularly in garments, has increased considerably.
According to Kim, the country's WTO admission will not bring about great changes for Viet Nam in the near future, but in two or three years time, particularly after Viet Nam untightens control of the service market.
He stressed that the number of businesses from foreign countries, including the RoK, coming to Viet Nam will also increase sharply. Demands for labour and infrastructure facilities will also rise correlatively.
He said that that the Vietnamese government should soon map out preparatory steps in order to effectively receive this major investment flow.-Enditem |