NA committee considers impacts of economic integration

The Government’s report on the outcomes of international economic integration since Vietnam joined the World Trade Organisation (WTO) was scrutinised at the National Assembly Standing Committee’s 41st meeting on September 18.

 

 

Photo for Illustration (Pho to: Thai Thien)

According to the NA’s Economic Committee, international integration, especially the country’s participation in the WTO in 2007, has brought about impacts on all domestic socio-economic aspects with remarkable outcomes.

It has opened up more opportunities for local people to raise their incomes. In 2014, average GDP per capita reached VND43.4 million (US$1,931) a year, up 2.93 times from the figure of 2007.

 

However, the process has caused negative impacts on the environment, such as accelerated mining and oil exploitation exhausting natural resources.

 

In addition, economic regulations and institutions, while much improved, have shown limitations in quality and enforcement, and economic policies are not yet strong enough to take advantage of opportunities brought about by international integration, especially those in the private sector. Meanwhile, administrative reform has yet to meet economic development requirements, and competitiveness of the nation and it’s enterprises remains low.

 

Many Standing Committee members said that many points in the report, particularly the causes of problems, should be analysed further in order to find solutions for the next stage of integration.

 

According to NA Chairman Nguyen Sinh Hung, the report is yet to answer the question as to whether Vietnam’s eight-year WTO membership helps improve its economy and narrow the development gap with other countries or not.

 

Meanwhile, Truong Thi Mai, Head of the NA Committee for Social Affairs, stressed the need for comparison with other nations in the region during the integration process.

 

Head of the NA Ombudsman Committee Nguyen Duc Hien asked for further clarification of the process’s impacts on the agricultural sector, particularly human resources working in this field, poverty reduction and building new-style rural areas.

 

(Source: nhandan.org.vn)