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Official Gazette

Sunday, September 27, 2020

PM approves implementation plan for EVFTA

Updated: 09:00’ - 12/08/2020
The Prime Minister has approved a plan to implement the EU-Vietnam Free Trade Agreement (EVFTA).

The plan aims to assign tasks and responsibilities to agencies and organizations to decide on measures to implement the agreement.

To achieve this, in addition to regular tasks, ministries, governmental agencies and the People's Committees of centrally-run provinces and cities need to concretize and organize the implementation of basic tasks such as communicating information about EVFTA and markets of EU countries; building laws, institutions; and improving competitiveness and developing human resources.

They must also promote trade and investment promotion programs in EU countries to inform business communities of other countries about the opportunities and advantages of Vietnamese business and investment environment and attract foreign investment in key areas.

Along with that comes building programs to support and improve competitiveness for industries and businesses, while preparing solutions for industries and commodities greatly affected by the agreement and helping Vietnamese enterprises participate in regional and global production networks, value chains and supply chains.

In addition, they must focus on industrial restructuring, creating a foundation for industrialization and modernization; accelerating restructuring agriculture and rural economy; strengthening measures and mechanisms to encourage and orient foreign-invested enterprises to connect with domestic enterprises, contributing to the formation and development of supply chains.- (VNS/VLLF)

 

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