Two years after joining the World Trade Organization (WTO), Vietnam has felt some significant effects such as skyrocketing foreign capital inflow, wider export markets, high export turnover, and particularly new ways of thinking and new business standards, said the Minister, Chairman of the Government Office this morning.
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Minister, Chairman of the Government Office Nguyen Xuan Phuc presides over the impact assessment of Vietnam’s two-year WTOmembership
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Mr. Nguyen Xuan Phuc made the statement at a conference, held today in Hanoi, to assess impacts of Vietnam’s two-year WTO membership.
In 2008, export value reached US $62.9 billion, up 29.5% against 2007. FDI disbursement was estimated at US $11.3 billion, accounting for 29.8% of the country's total investment volume.
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Ambassador, Head of the EC Mission in Vietnam Sean Doyle: We witnessed outstanding growth in FDI into Vietnam from US $13 billion in 2006 to US $60 billion in 2008
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According to Ambassador Sean Doyle, Head of the EC Mission in Vietnam, the country's more transparent legal system has made local businesses more confident to compete in the international markets.
Besides, when some countries tend to resume protection of their domestic industries, Vietnam publicly follows anti-protectionism and has wisely taken propermeasures to defense its trade.
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The event drew the participation of Party, State, NA's agencies and international organizations, scientists, experts and businessmen
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Minister Phuc said that after the conference, competent bodies will finalize the assessment report which will be submitted to the PM.
The Government Office will organize a seminar in July on “Impacts of the global financial crisis on Vietnam” in order to clarify challenges and the Government’s responses.