Hanoi, June 3-4, 2003 – The two-day international forum on Vietnam: Readiness for WTO Accession organized by the National Center for Social Sciences and Humanities (NCSSH) in collaboration with the World Bank has successfully closed its Hanoi session today.  The Forum will be followed by a similar event in Ho Chi Minh City on June 6-7.

The Forum was attended by over 350 senior policymakers from central and local governments, entrepreneurs, academics and representative of the donor community.

“This is an important Forum, because it clarifies how various stakeholders, including ministries, local authorities, and the business community, perceive the implications of WTO Accession, and assessed their preparedness to rise to the Challenge. The Government of Vietnam will use this assessment as inputs in the design of an accelerated integration strategy and appropriate implementation roadmap.” said Deputy Prime Minister Nguyen Tan Dung who opened the Forum on Tuesday. 

Klaus Rohland, Director of the World Bank in Vietnam congratulated the Vietnamese authorities on the country’s economic performance and noted that “The World Bank shares the view that accession to the WTO can be used to accelerate Vietnam's broader development and poverty reduction strategy by taking advantage of global opportunities and by creating a further discipline for a legal environment that supports fair and competitive business.”  

As part of a discussion of the international experience, participants stressed the need to use the opportunity of WTO accession to accelerate further market reforms, and create a conducive business environment, leveling the playing field for the state-owned enterprises, foreign-invested companies and private domestic-owned companies, and creating a transparent, predictable legal regulatory framework.

There was a consensus that significant challenges to Vietnam’s accession to the WTO remain. Further reform of state-owned enterprises would become imperative as these companies would face increased competition. Tax reform would have to compensate for the reduction in tariff revenue. The administration of the customs department would have to be upgraded to make it consistent with WTO rules. Agencies that regulate services sectors, including banking, insurance, telecom and transport sectors as well as the protection of intellectual property rights would need to be revamped to comply with WTO principles.

Homi Kharas, Chief Economist of the World Bank East Asia and Pacific Region stressed that the WTO accession process also provided an opportunity as outside pressures could contribute to domestic reform. He also noted that the WTO Doha Development Round created further advantages for a developing country, such as Vietnam.

Participants confirmed the importance of further opening in the context of WTO accession as part of the strategy for the alleviation of poverty and its social impact more generally. Accession to the WTO is expected to lead to further poverty alleviation through export-led and labor-intensive employment growth, including agricultural and rural development. “Complementary policies may be needed to cushion the social impacts of the trade liberalization and to ensure that the poor and the unskilled fully benefit from integration with the world economy.” Do Hoai Nam, Vice Chairman of the National Center for Social Sciences and Humanities emphasized.

Prime Minister Phan Van Khai expressed sincere thanks to the World Bank for working closely with the National Center for Social Sciences and Humanities in organizing this event. “The government and people of Vietnam highly appreciate the World Bank financial and technical support for the economic and social development of Vietnam. We hope to see this continuing role of the World Bank in helping Vietnam to become a member of the WTO by the end of 2005.”  noted the Prime Minister at a reception following the successful Forum.

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For more information and materials of  the International Forum Vietnam: Readiness for WTO Accession, or about the World Bank’s activities in Vietnam, please visit our Website at http://www.worldbank.org.vn