Vietnam needs to rely on its internal economic strength and less on foreign investment to capitalise on its integration into ASEAN, former vice president of Vietnam Truong My Hoa told a seminar in Ho Chi Minh City on Nov. 24.
Ms. Hoa told the seminar on ASEAN-regional economic integration that Vietnam has strived to develop investment, bilateral and multilateral cooperation in the ASEAN free trade area to benefit both Vietnam and the association.
“ Vietnam has a special interest in boosting ASEAN-American economic cooperation. It is a strategic part in the development of ASEAN market aimed at opening more prospects for the future,” she said.
Vietnam has particular interest in cooperation in scientific research, education and training with the ASEAN community, achieving remarkable results in these areas in cooperation with Singapore and Thailand .
Tran Dai Hung, deputy chairman of the Vietnam Lawyers Association, said the Vietnamese Government displayed its internal strength through its effective policies to protect the market economy and improve competitiveness of businesses.
The policies included the stimulus packages, a comprehensive administration, public works planning, administration reform and anti corruption efforts.
Vietnam ’s role as chair of ASEAN next year will be to quickly respond to turbulence from the global economy, minimizing any wide-spread damage to the economy and to production and businesses in particular, Mr. Hung said.
The regional economic integration seminar was held by the Vietnam Lawyers Association, Hanoi-based Konrad Adenauer Foundation and the International Business and Law Academy.