Asia Business Channel

Vietnamese Prime Minister Nguyen approves EVFTA implementation plan

Illustration photo. — Photo


Vietnam’s Prime Minister, Nguyen Xuan Phuc, has approved a plan to implement the EU-Vietnam Free Trade Agreement (EVFTA). The plan aim assigns specific tasks and responsibilities to agencies and organisations that will decide on measures to implement the agreement.

In addition to regular tasks, ministries, governmental agencies and the People's Committees of centrally-run provinces and cities will need to coordinate and organize their individual plans for the implementation of basic tasks such as communicating information about EVFTA and markets of EU countries; building laws, institutions; and improving competitiveness and developing human resources.

Additionally, these entities are expected to plan promotional trade, investment promotion and marketing / communication programs in European Union countries about the opportunities and advantages of Vietnamese business and investment environment opportunities that will attract foreign investment in key areas.

The government also plans to support and improve competitiveness for businesses and various industry sectors, while preparing solutions that will help Vietnamese enterprises participate in regional and global production networks, value chains and supply chains.

The central government is also planning for restructuring that will create a foundation for industrialization and modernization; that will accelerate the restructuring of the agriculture and rural economy; and that will encourage foreign enterprises to connect with domestic enterprises.




Read 164