Speaking at the working session between Minister of Industry and Trade Nguyen Hong Dien and leaders of Lao Cai province on international economic integration in Lao Cai province, Mr. Trinh Minh Anh - Chief of Office, Office of the Steering Committee for International Economic Integration said that Vietnam's active and proactive international integration process in recent times could not have been successful without the efforts and contributions of ministries, branches and localities.
However, the level of integration of localities is not uniform. Some localities take full advantage of integration opportunities, but others have limited participation in integration. This depends on the integration capacity of each locality, and integration capacity depends on many different factors.
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| Mr. Trinh Minh Anh - Chief of Office, Office of the Economic Interdisciplinary Steering Committee gave a speech at the working session. |
The Post-WTO Technical Assistance Program, chaired and implemented by the National Committee for International Economic Cooperation (now the Inter-sectoral Steering Committee for International Economic Integration), with the support of the Australian Agency for International Development (AusAID) and the UK Department for International Development (DfID), has researched and analyzed the international economic integration capacity of localities based on 8 groups of criteria, called 8 pillars, including: Institutions, Infrastructure, Culture, Local Natural Characteristics, People, Trade, Investment, Tourism.
Regarding Lao Cai province, through research and analysis, experts have drawn some conclusions related to the eight pillars that make up the international economic integration capacity of Lao Cai province. Accordingly, if compared to 7 years ago, the international economic integration capacity of Lao Cai province is ranked high compared to the provinces in the Northwest region but still low compared to the general level of the whole country.
However, at present, it can be seen that Lao Cai has been improving its capacity for international economic integration very well with directions suitable to local conditions and gradually successfully transforming its advantages into effective sources of support for socio-economic development.
Mr. Trinh Minh Anh emphasized that based on the eight pillars of international economic integration, it can be seen that Lao Cai has many pillars that can promote its strengths, notably:
Regarding the local characteristics, Lao Cai has a very good geostrategic position, with over 182km of border with China and a diverse system of border gates in many different locations and scales, favorable for the development of border gate economy, border trade and foreign relations.
This is the condition for Lao Cai to develop into a major logistics center of Vietnam and ASEAN countries, becoming a trading center of ASEAN countries with the Southwest-China market...
In this process, it is important to note that currently, Vietnam, China and ASEAN countries have signed up to 8 FTAs. These FTAs are bringing many opportunities in the exchange of goods and services between the parties thanks to tariff reductions and opening of service and investment markets.
“Taking advantage of FTAs will help to resolve difficulties and obstacles in the market or lack of raw materials for production, and at the same time, it is possible to attract investment from foreign partners …” – Mr. Trinh Minh Anh informed and emphasized that, in the context that Lao Cai is aiming to become a regional and international service and financial center in the future, it is necessary to exploit opportunities from these FTAs in the fields of: import and export, development of logistics services, cooperation, technical support, etc. thereby developing the local economy.
However, it should be noted that being close to a major partner such as China, competition is also becoming more intense. In fact, in terms of both agricultural and industrial production, Lao Cai is less developed and has fewer advantages than Yunnan Province, China. This could lead to the risk that the Lao Cai market will be “overwhelmed” due to low competitiveness, and therefore businesses in the province are at risk of gradually losing their market.
Therefore, to develop, Lao Cai needs to strengthen the connection of local markets with the national market, first of all the Northern Midlands and Mountains and the key economic areas of Hanoi - Hai Phong - Quang Ninh to cooperate in production, seek and exploit the province's comparative advantages with other localities in and outside the region, on the basis of maximizing the province's potential for economic and trade development. In the context of integration, localities need to strengthen their links with each other to enhance overall strength, avoiding the situation of big fish swallowing small fish.
Regarding tourism and cultural pillars. This is an outstanding advantage of Lao Cai that not every locality has. 10 years ago, the tourism and cultural pillars of Lao Cai were low compared to other localities in the country (ranked 10/62), but now Lao Cai has exploited this field quite well, becoming one of the leading localities in tourism development in the country.
In the context of increasingly deep integration, trade and tourism have a close relationship. It is necessary to promote the strengths of tourism to develop tourism on the one hand, and develop local trade on the other hand, bringing the image of Lao Cai to domestic and international friends, thereby connecting, expanding trade, and attracting international investment. Although Lao Cai has advantages in minerals, developing trade services associated with tourism is the sustainable direction.
Regarding the local international economic integration situation, recently, the Inter-sectoral Steering Committee for International Economic Integration has received very complete reports on international economic integration from Lao Cai province, thereby realizing that the integration work has been closely concerned by the provincial Party Committee, departments and branches, especially the Department of Industry and Trade.
The Inter-sectoral Steering Committee for International Economic Integration has received a number of specific recommendations from Lao Cai, including "Continuing to support Lao Cai province in implementing tasks on international economic integration, exchanging and sharing information and documents on international integration; orienting and supporting localities in organizing the implementation of international agreements and commitments; supporting localities in implementing programs, plans and projects to improve competitiveness for enterprises; acting as a bridge to mobilize programs, projects, aid, and international cooperation from foreign agencies, organizations and partners; supporting Lao Cai province in holding seminars, conferences, and training courses on international economic integration for state management officials and enterprises in the province".
Regarding this issue, the Office of the Inter-sectoral Steering Committee for International Economic Integration is always ready to coordinate and support localities in information and propaganda work on international economic integration regarding FTAs.
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