Vietnam and the US have been exchanging information and requirements on negotiations for Vietnam’s WTO membership. We have emphasized that Vietnam is a developing country with transitional economy so that the US have a pragmatic view to conclude negotiations soon and with good results. This week, we will likely know when the talks with the US will finish and negotiations are projected to come to an end very soon. Vietnam will then basically finish bilateral negotiations and what remains to be done is to conclude multilateral talks. We are striving to enjoy WTO membership this year. I do not think the news that negotiations will finish in May is from insiders.
How do you comment on the point of view that the Government is preparing for integration while businesses are not?
I don’t think so. Businesses have been preparing for integration for long. Evidences are in places where they purchase and sell commodities. Of course, integration is becoming more clear and large-scale now. Not only businesses but also the Government is participating in the integration process. What the Government has to do negotiating and signing agreements with other countries and organizations and businesses follow those agreements.
However, we should classify integrating enterprises. For example, foreign-invested firms in Vietnam are positioned for integration while local businesses have 5-year of 10-year strategy for this process. Generally speaking, local enterprises should improve their preparation. I think they need more time to prepare because integration is not easy. The integration process requires firm market position not only at home but also overseas. Moreover, enterprises need to have strong resources and good business administration.
Vietnam will join the WTO soon. On the other hand, businesses will have to face challenges and tough competition. What is your advice for them?
Once we enjoy WTO membership, we must have duty reduction roadmap for several products, from 3 to 5 years. That means there is no time to hesitate. So enterprises should enhance their knowledge on integration so as to know well Vietnam’s commitments in the WTO to grasp chances and overcome challenges in integration. Moreover, they have to improve their production capacity, product quality and management skills.
Vietnamese businesses have been well aware of importance of brand. How do you comment on this and do you think they should cooperate to develop?
I think brand building takes time. It is not easy to have a famous brand. A well-known brand requires high product value, high market share and bright future. It is good to pay much attention to brand building. However, quantity and quality of products accepted by consumers is more important.
Business cooperation has become a trend for its effectiveness. Individual businesses can still have strong brand but development of an industry requires cooperation between its enterprises and even between it and other industries.

Source: Thời báo Kinh tế Việt Nam