Gov’t responds to trade disputes

Deputy PM Pham Binh Minh at the Q&A session, Ha Noi, June 6, 2019 - Photo: VGP/Nhat Bac

Deputy PM Pham Binh Minh made the point in response to NA deputies’ inquiries on the impacts of the U.S.-China trade disputes on Viet Nam at the Q&A session of the 14th National Assembly on June 6 in Ha Noi.

The Deputy PM answered a series of questions on cultural diplomacy in favor of tourism promotion, solutions to tourism sustainable growth, Viet Nam’s response to the U.S.-China trade dispute, and optimizing opportunities of FTAs. 

According to Mr. Minh, not only Viet Nam but all countries are concerned about the trade dispute which is forecast to affect the international and regional economies. 

Deputy PM Minh said that international financial organizations projected that the trade dispute may cause negative impacts on the global trade. The world’s economic growth rate was forecast to decline from 3.5% to only 3.2% due to the prolong trade dispute. 

Regarding Viet Nam, as an open economy, any impact from the international economy would affect the country. 

Since 2018, the Government and the PM have extremely attached importance to the issue and set up a steering committee to research, assess, and propose suggestions. 

The Deputy PM went on to say that in the first five months of 2019, FDI inflows increased. However, it is right time for Viet Nam to select investment in prioritized fields in favor of quality and environmental protection. 

The Government leader also stressed the necessity to stay alert at transit goods which will be exported to other markets. 

Effective CPTPP 

Regarding measures to uphold the big opportunities from FTAs especially the CPTPP, Deputy PM Minh said that right after the CPTPP took effect since January 14, 2019, the PM issued a plan to put the document into reality. So far, 21 ministries and 54 localities have issued plans to implement the CPTPP. 

The Government has composed and amended eight laws to fulfill its commitments to the CPTPP and four decrees to enforce some articles of the Laws on Competition, Intellectual Property, Foreign Trade Management, and Food Safety. 

Over the last five months, trade volumes expanded between Viet Nam and other CPTTP signatories including up 70% with Canada, up over 80% with Mexico, 4% with Japan. These figures showed that CPTPP started taking effect. Moreover, Vietnamese enterprises should utilize the pack to boost exports to CPTPP member states. 

Deputy PM Minh affirmed that the Government would accelerate legal perfection; disseminate Viet Nam’s commitments, opportunities and challenges for domestic enterprises. 

Slow ODA disbursement

The Government leader frankly pointed out the causes for the prolong ODA disbursement progress. 

Accordingly, he attributed the sluggish provision of responding capital and prolong preparation progress especially transport infrastructure projects to the slow ODA disbursement progress. 

The Deputy PM also blamed poor capabilities of some project management boards for the problem.

Advertizing cultural tourism 

Regarding the orientation of integration, international integration in culture in favor of tourism promotion, the Deputy PM said that cultural integration represents an important task besides the two pillars of economics and politics. 

The PM passed the Strategy on cultural diplomacy by 2020. 

In the coming time, the Government will continue to call on the UNESCO to recognize other Viet Nam’s cultural heritages. So far, 38 heritages have been recognized. 

Viet Nam organized international meetings including APEC Summit Week in 2017, the second U.S.-DPRK Summit in 2019 in an effort to advertizing the country’s rich cultural diversity. So far, embassies, consulars, and Vietnamese representative agencies have spared no effort to advertize tourism./.

By Kim Loan