Ha Noi (VNA)- One year after joining the World Trade Organisation (WTO), the national economy posted a record growth rate of 8.5 percent in 2007, also the second fastest in the world.
Deputy Prime Minister Pham Gia Khiem said at a trade and investment forum in Ha Noi on January 11, that such achievements have eased away any worries and doubts about the national economy’s capacity in adjusting itself to major changes.
Khiem said foreign direct investments (FDI) and exports were last year’s biggest successes with over 20 billion USD in FDI being equivalent to the amount made in all the previous five years. The export revenue recorded 48.4 billion USD, an increase of 20 percent over 2006.
He also pointed out the national economy’s weak points, including a continuous rise in consumer price indexes, huge trade deficits, unsustainable growth quality of several industries and low competitiveness.
He therefore called on ministries and industries to exchange views and draw experiences from each others at the forum to continue advancing forwards and contribute to the national economy’s sustainable growth.”
The European Community Ambassador to Viet Nam , Sean Doyle, highly valued Viet Nam ’s trade and FDI growths in its first year of WTO membership.
He emphasised that the country has managed to balance economic growth and social programmes to largely improve living conditions and bring poverty to a very low rate.
Sean Doyle pledged that EC would share experiences in global integration with Viet Nam within the framework of bilateral and multilateral cooperation.
He added that together with boosting economic ties, Viet Nam ’s second largest trade partner will continue its assistance in poverty reduction, thus bringing in added value to the Southeast Asian economy.
EU will fund additional 10 million Euros to the MUTRAP II project in support of Viet Nam in implementing its WTO commitments such as State-owned enterprise equitisation and tax policies.
His view was shared by Martin Rama, an economic expert from the World Bank. Rama said achievements in the first year has flied beyond the country’s expectation.--Enditem
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