Suggestions for Vietnam Sample Clauses

Suggestions for Vietnam. Vietnam's integration to the ASEAN’s FTA has generated new opportunities and conditions for the nation's economy as well as its enterprises, but the most important factor is how the country and its businesses take advantage of them. The ASEAN FTAs is creating both opportunities and challenges which are unprecedented for the Vietnamese business community and people, but there is a momentum for rapid change in circumstances of regional integration. The domestic business community must make joint efforts with State support to make it possible for the Vietnamese economy to benefit from ASEAN FTAs. Similar to ASEAN countries, AFTA has brought about changes to the structure of Vietnamese industries, at a certain level. Some industries will grow, but some sectors will be narrowed. This is raising a question for policy makers and entrepreneurs on how to take advantage of opportunities and liberalization timeframe to orient industrial structure and productions in order to promote its comparative advantage of labor division in the region. Basically, under the opened economy to the industrial development in competition, the state government should create a favorable climate in investment, and appropriate application of protective measures which is designed to allow to investors to compete not only on the domestic market but also in the region and the world. Nonetheless, under ASEAN FTAs, government’s protection is limited. In the integration process, Vietnamese businesses should focus on exploiting traditional markets on which they have reached free trade agreements. They should enhance market information and increase efficiency of trade promotion programs. In addition, there is a need for businesses to pay attention to new markets, especially potential market in Eastern Europe, Western Asia, Southern Asia, Middle East, Africa and Latin America. Furthermore, government agencies should help businesses and farmers overcome difficulties through methods to strengthen producing and exporting traditional products, potential products and products with large export value. There is a need to propose methods to plan essential material and fuel production to replace import products, boosting controlling unnecessary import products and the products which can be made within the country. It can be said that, competitiveness in line with AFTA’s rules is not easy. Joining the organization is only the first step of a difficult process to narrow the development gap between Vietnam and...
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