Low tech production and exports largelybased on natural resources aroused concerns from economists at aworkshop held in Hanoi on May 24, who called for new model ofeconomic development after three years joining the World TradeOrganisation.
The Director of the Vietnam Economics Institute, Tran Dinh Thien,said raw materials such as minerals and farm and forest products andseafood are major hard currency earners while industrial exports such asapparels, leather shoes, electronic appliances and computers areessentially subcontracted products with low added values.
Raw materials and low-tech products make up almost 82 percent of thegross export value, excluding crude oil.
Thien said the three years of joining WTO, especially 2009 whichculminated with a global crisis, was a “test” for the national economyin global integration, examining the Government’s capacity to cope withrisks.
“It is urgent now to build a new model of economic development tomeet the emerging demand for global integration,” said the senioreconomist.
His view was echoed by former Deputy Prime Minister Vu Khoan, whowarned that unless the Government worked out a new model to correct theweaknesses, the national economy could not compete on the global scale.
Khoan pointed out the weaknesses that need to be changed forsuccessful integration, including poor quality of growth which haslargely depended on investments, low competitive capacity, a poor legalsystem, backward infrastructure and poor human resource quality.
Prof. Nguyen Mai, former member of the Government’s Research Board,shared his view, urging for a new Governmental integration programme toinclude concrete measures and strategies for each and every partners andindustries.
In regard to the foreign direct investment (FDI) strategy, theGovernment should be selective instead of opening the economy for allpartners as at present.
The Government should ban all FDI projects on export-oriented miningprojects or environmental polluters, he said.
The FDI policy should give a hand to domestic investors by setting upinternational production and marketing systems to help them develop onthe global scale.
The Central Institute for Economic Management Research recentlyreported that global integration process, especially the country’s WTOmembership, has made a positive impact on the Vietnamese economy.
The nation’s economic growth, at just 5.3 percent in 2009 due toglobal financial crisis, was still ranked a high level as many othereconomies posted much lower or even minus rates.
Global integration has also helped Vietnam expand foreignmarkets, speed up exports, increase the inflow of FDI, perfect the legalsystem on market-oriented economy, generate more jobs, alleviatepoverty and increase access to input sources for businesses.
The workshop on socio-economic impacts three years after the countryjoined the world’s largest economic body drew almost 260 participantsfrom the offices of the Government and National Assembly, differentministries, industries and local administrations./.
The Director of the Vietnam Economics Institute, Tran Dinh Thien,said raw materials such as minerals and farm and forest products andseafood are major hard currency earners while industrial exports such asapparels, leather shoes, electronic appliances and computers areessentially subcontracted products with low added values.
Raw materials and low-tech products make up almost 82 percent of thegross export value, excluding crude oil.
Thien said the three years of joining WTO, especially 2009 whichculminated with a global crisis, was a “test” for the national economyin global integration, examining the Government’s capacity to cope withrisks.
“It is urgent now to build a new model of economic development tomeet the emerging demand for global integration,” said the senioreconomist.
His view was echoed by former Deputy Prime Minister Vu Khoan, whowarned that unless the Government worked out a new model to correct theweaknesses, the national economy could not compete on the global scale.
Khoan pointed out the weaknesses that need to be changed forsuccessful integration, including poor quality of growth which haslargely depended on investments, low competitive capacity, a poor legalsystem, backward infrastructure and poor human resource quality.
Prof. Nguyen Mai, former member of the Government’s Research Board,shared his view, urging for a new Governmental integration programme toinclude concrete measures and strategies for each and every partners andindustries.
In regard to the foreign direct investment (FDI) strategy, theGovernment should be selective instead of opening the economy for allpartners as at present.
The Government should ban all FDI projects on export-oriented miningprojects or environmental polluters, he said.
The FDI policy should give a hand to domestic investors by setting upinternational production and marketing systems to help them develop onthe global scale.
The Central Institute for Economic Management Research recentlyreported that global integration process, especially the country’s WTOmembership, has made a positive impact on the Vietnamese economy.
The nation’s economic growth, at just 5.3 percent in 2009 due toglobal financial crisis, was still ranked a high level as many othereconomies posted much lower or even minus rates.
Global integration has also helped Vietnam expand foreignmarkets, speed up exports, increase the inflow of FDI, perfect the legalsystem on market-oriented economy, generate more jobs, alleviatepoverty and increase access to input sources for businesses.
The workshop on socio-economic impacts three years after the countryjoined the world’s largest economic body drew almost 260 participantsfrom the offices of the Government and National Assembly, differentministries, industries and local administrations./.
