(PLVN) - Vietnam needs to focus on specific goals to effectively address key challenges in implementing new-generation FTAs, in order to take advantage of existing opportunities and overcome some limitations, thereby promoting economic recovery and sustainable development.
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(PLVN) - Vietnam needs to focus on specific goals to effectively address key challenges in implementing new-generation FTAs, in order to take advantage of existing opportunities and overcome some limitations, thereby promoting economic recovery and sustainable development.
It can be seen that after the COVID-19 pandemic, the world economy is gradually recovering, but still facing many difficulties, slowing growth rate, along with trade competition between countries, creating a volatile international economic environment.
To overcome current difficulties and challenges, countries are focusing on stabilizing the macro economy, ensuring social security, restructuring the economy and promoting innovation to achieve sustainable growth goals.
On the other hand, if any country fails to keep up with the trend of technological innovation, it will face the risk of falling seriously behind (Vietnam is no exception). Therefore, by taking advantage of the achievements of the Industrial Revolution 4.0, countries can quickly narrow the development gap with the leading group. International integration and the transition to a market economy have created new opportunities for developing countries, helping to overcome limitations in technology, capital and human resources, and quickly absorb international knowledge, technology and experience.
In addition, globalization and international integration have undergone significant changes, with the emergence of neoliberalism in economic development and the trend of trade protectionism. This poses new challenges to the development of multilateralism. To address the shortcomings of current globalization, many countries are moving towards an inclusive globalization model, where international rules and norms are established to ensure that the interests of all countries and all people are protected.
Therefore, building and perfecting the legal system, along with creating a healthy business environment, are important factors for Vietnam to properly implement its commitments, thereby successfully taking advantage of new generation FTAs.
The reform process needs to ensure continuity, consistency and efficiency, not create legal conflicts and policy contradictions, avoid causing unnecessary disruptions to the business environment, and at the same time create a fair playing field for all investors.
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| Export turnover to new markets with FTAs is also very impressive. |
To ensure the effective implementation of commitments in new-generation FTAs, it is necessary to enhance the capacity of state management agencies, equip them with specialized knowledge and necessary skills on information on new-generation FTA regulations, conditions, standards and international practices; thereby, effectively exploiting the incentives of new-generation FTAs, bringing the Vietnamese economy deeper into the world economy and enhancing the country's position.
Along with that, it is necessary to improve the competitiveness of Vietnamese enterprises in domestic and foreign markets. This is a process that requires efforts from both the State and enterprises.
State agencies need to organize activities to support businesses, provide full and timely information about new generation FTAs through seminars, talks or promotion programs; at the same time, it is necessary to build connecting networks so that businesses can exchange experiences, share information and seek cooperation opportunities. Only then can Vietnamese goods create high added value and compete effectively in the international market.
The State needs to have policies to support domestic enterprises in key sectors that are under competitive pressure from imported goods. To improve competitiveness, enterprises need to constantly innovate technology, improve product quality, and at the same time pay attention to environmental protection and sustainable development.
On the other hand, reducing dependence on imported raw materials and building an efficient supply chain are also important factors. To minimize risks and enhance competitiveness, Vietnam needs to diversify its export markets and not rely too much on one or a few specific markets. Continuing to expand cooperation with new markets around the world, especially fast-growing markets, will help Vietnam maximize opportunities and minimize the impact of global economic fluctuations.
To succeed in the international market, Vietnamese enterprises need to continuously improve product quality, while proactively researching and updating information on new generation FTAs. Investing in human resource training and building a quality management system are also important factors to help enterprises meet the increasingly stringent requirements of the international market. Instead of mass production, enterprises need to focus on improving product quality, building strong brands and innovating.
In the new generation FTA, stricter commitments on intellectual property protection are stipulated compared to the corresponding commitments in the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement) when Vietnam joined the World Trade Organization (WTO); from there, Vietnamese enterprises will have more opportunities to protect their innovations and enhance brand value.
New generation FTAs bring many opportunities to access large markets around the world, which also set some higher standards and regulations in Vietnam, requiring businesses to focus on raising awareness in the field of intellectual property.
Source: https://baophapluat.vn/tan-dung-toi-da-co-hoi-tu-cac-fta-the-he-moi-dam-bao-muc-tieu-tang-truong-ben-vung-post535367.html
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