Integration has brought many chances for Vietnam

Vietnam officially became the 150th member of WTO five years later after 11-year-negotiation. It can be said that this was the most important milestone of Vietnam in integration.

Vietnam had been the member of ASEAN, taken part in AFTA, the creator of ASEM, the member of APEC, and signed the BTA with USA in 2011.

b2b Vietnam - Integration has brought many chances for Vietnam

Five years have passed. Vietnam also has opened many gates in integration, linked more than 149 economy of WTO and other associations. Vietnam is not the low developing country anymore. The growth speed averages 7% per year. GDP is 1,168 USD per one.

In five years 2006-2010, the total FDI has been 45 billion USD, exceeded 77% compared to the plan. The new additional FDI was 146 billion USD, higher 7 times over the last five years.

According to the MOIT, there have 22 brands reached more than 1 billion USD in export turnover. In the side of the trade balance, Vietnam still is the super import country, but now, there have 6 markets that Vietnam is super-export: USA, Swiss, Cambodia, England, Netherland, Philippines. This will be good sign for the balance in the next year.

The former Prime Minister Mr. Vu Khoan said that, after integration, the export turnover of Vietnam to USA transformed from 50 million USD to 7 billion USD, and in 2011, it was 10 billion USD. This is the advantage of integration.

The businesses see clearly the pros of integration. This is the driving force and the new innovation for all of enterprises. Hapro, after five years, has become the famous distributor of markets, not only in Hanoi, but also in many cities in Vietnam.

It is admitted that, integration has brought many chances for Vietnam to reform the policy system. Vietnam is keeping to perfect this in the next years.