Viet Nam Is Going The Right Way to Market Economy

Donald J. Johnson - OECD Head

Viet Nam is going the right way to market economy,” confirmed Donald J. Johnston, Secretary-General of the Organization for Economic Co-operation and Development (OECD) on his visit to Viet Nam on February 7.

He said that OECD will help Viet Nam with the development of the market economy as it has done to other countries like China and Russia. In particular, OECD will help Viet Nam accelerate the process of administrative reforms, the improvement of investment environment, and the development of the rural region and the non-state economy.

Previously, in the meeting with Mr. Johnston, Viet Nam’s Deputy Prime Minister Vu Khoan introduced the remarkable achievements in the country’s process of reform and economic integration while highlighting its priorities in socio-economic development in the next years. The OECD Secretary-General appreciated Viet Nam’s socio-economic successes, expressing his support and help with Viet Nam’s economic reforms.

Mr. Vu Khoan appraised OECD’s great support and assistance to Viet Nam’ s reforming and economic integrating efforts and welcome OECD’s choice of Viet Nam as one of the issues in the 2005-2006 program of the Center for Co-operation with Non-Members. OECD will co-ordinate to study and construct the cooperating program of Viet Nam-OECD in phases, for the time being to 2010, in such priority fields as investment, commerce, economic, financial and banking management, competition, and sustainable development.

Deputy Prime Minister Vu Khoan asked OECD and its members to recognize the market economy status for Viet Nam soon and assist Viet Nam on the way to its market economy.

The two also exchanged issues of bilateral concern in order to strengthen the cooperation of OECD-ASEAN and OECD-APEC.

In the afternoon, Foreign Minister Nguyen Dy Nien and Minister of Planning and Investment Vo Hong Phuc also met with OECD Head Johnston.

OECD was established in 1961 with 30 members of developed countries, including the U.S., Japan, European nations, Canada, Australia and Republic of Korea.

By Bich Hang - Translated by Le Thao

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