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Hanoi to improve global economic integration capabilities
Ngoc Thuy 08:48, 2018/02/16
Hanoi has to gain a head start by taking a shortcut through technology application during global economic integration, requested the Chairman of the Hanoi People`s Committee, Nguyen Duc Trung.
"All departments and agencies have to assume the right mindset in applying technology in the working process," added Trung at the meeting reviewing Hanoi's global economic integration performance in 2017 and plans for 2018 on February 5. 
 
Hanoi has stepped up efforts to implement its administration reform in 2017.
Hanoi has stepped up efforts to implement its administration reform in 2017.
"Global economic integration is not limited to promoting enterprises and goods in international markets, but also includes strategies to call for investment in win-win arrangements, while at the same time taking advantage of the support from international partners who offer finance and expertise."

Moreover, priority should be set for high-quality projects in the fields of healthcare, agriculture, culture, and socioeconomic development, Trung said.

In 2017, Hanoi has stepped up efforts to implement its administration reform, with a view to improve the business and investment environment, as well as meeting citizen and enterprises' needs in public services and administration procedures, according to the report of Hanoi Steering Committee for International Economic Integration.

Government agencies have been consistently implementing technology applications, taking the capital's provincial competitiveness index (PCI) to the 14th place out of the 63 provinces and cities, 10 places higher than in 2015-the highest ranking previously. 

Recently, the Hanoi People's Committee has implemented measures to improve its competitiveness index, developing high-quality tourism products in relation with brand development. This is aimed to transform the tourism sector into a spearhead industry of the city, said the Vice Director of Hanoi Industry and Trade Department. 

Efforts for global integration have been made consistently and actively in various fields, contributing significantly to fulfilling socioeconomic targets, according to the assessment of the Head of Research and Development Institute of Economics-Social Hanoi (HISEDS), Nguyen Hong Son. 

Specifically, in 2017, Hanoi's export value reached US$11.8 billion, up 10.3% over the last year's period. Hanoi also attracted US$3.43 billion in investment capital, an increase of 10.2% compared to 2016. 556 projects were approved with newly registered capital of US$1.43 billion. 

Moreover, the total value of additional funds, share purchases, and capital contributions from 637 foreign investors in Vietnamese businesses was registered at US$1.31 billion.

Global economic integration has produced positive results. However, there remain shortcomings, especially issues related to enterprise support, opening doors for foreign investors, and consumer protection. 

Despite the fact that departments and agencies have provided measures to remove difficulties and support products, there remain gaps between theory and practice. 

The reasons for these shortcomings stem from mechanisms and inconsistent government policies, reported the Hanoi Steering Committee for International Economic Integration. 

In order to tackle these issues, in 2018, Hanoi will continue reviewing and systemizing legal frameworks in all sectors and fields, building a database, and developing mechanisms to facilitate the work of departments, organizations, and citizens. 

It is also important to reform administration procedures and improve the business environment, to facilitate investment attraction at strategic markets, to support enterprises in search of new markets, and to improve competitiveness. 
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