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IETNAM: WTO Brings Challenges and Opportunities
By Tran Dinh Thanh Lam
HO CHI MINH CITY, Nov 8 (IPS) - Like many of her compatriots, Pham Thi Viet Nga, chief of the Hau Giang Pharmaceutical Co., expects Vietnam''s accession to the World Trade Organisation (WTO) to bring both opportunities and challenges.
This communist country officially became the WTO''s 150th member on Tuesday after a decade-long wait during which it went through 15 mandatory multilateral and bilateral negotiations with 28 partners.
"We are well aware of the new situation and have tried our best to cope with it," Nga said. "Our firm is putting all of its resources into a two million U.S. dollar production line that can produce medicines that will meet World Health Organisation standards."
Acquiring WHO standard certification will enable Nga''s firm to access markets in the Asia-Pacific Co-operation (APEC) region and later the world market. Her new factory is due to be operational by the end of this year. "The coming APEC summit meeting in Hanoi will be a great occasion for us to showcase our firm," Nga told IPS.
Vietnam''s accession to WTO preceded by four days the 2006 APEC economic leaders'' meeting, that will be attended by top world leaders including presidents George W. Bush of the United States, Hu Jintao of China, and Vladimir Putin of Russia.
An investment forum will be held on that occasion in Hanoi "to introduce Vietnam''s economy to the world while focusing on Vietnam''s road map towards integration into the world economy," says Vu Tien Loc, president of the Vietnam Chamber of Commerce and Industry (VCCI), the organiser.
Some observers have noted that Vietnam''s WTO entry has triggered a new rash of regional jitters like the one that hit China in December 2001.
Like China, Vietnam has been implementing economic reforms, but the pace has been slower. With its entry into the WTO, the country has gained a ticket to the international economic stage.
Expected to participate in the forum are representatives of 600 global corporate heavyweights like Boeing, Microsoft, Fedex, GM, IBM, City Group and Toyota, as they consider investments in Vietnam.
"As the latest member of the WTO Vietnam will assert an all-out effort to create a favorable business environment to receive new waves of foreign investment," Loc said. "We believe business leaders will discover abundant business and investment opportunities in Vietnam, one of the fastest growing economies in the world."
Recently, Vietnam recorded a growth pace considered second only to China in Asia. Like China, the country is fueling growth on low-cost labour, foreign direct investment and export-oriented industries.
Vietnam is now the world''s largest pepper exporter and the second-largest cashew and coffee exporter. Little more than a decade ago, the country could hardly produce enough rice to feed itself; now, it is the world''s second-largest rice exporter, behind Thailand.
Vietnam''s economic growth topped eight percent last year. Foreign direct investment rose steeply to over six billion dollars, and exports surged by over 20 percent.
Economic output has nearly doubled in the past five years, poverty has been cut in half to about 20 percent in one decade, and GDP (gross domestic product) growth this year is projected at a sizzling 8.2 percent.
"I''m very hopeful that 2006 will be a real turning point," says Le Dang Doanh, a leading economic adviser to Vietnam''s government. "Vietnam could be a major player in 10 years."
Experts say WTO status is likely to make Vietnam competitive enough to attract investment away from the "little dragons" -- Indonesia, Malaysia, Singapore and Thailand.
Hau Giang Pharmaceutical Co. is just one of hundreds of domestic enterprises that are actively preparing for APEC and WTO. "Looking to the advantages to be gained from the economic integration, Vietnamese pharmaceutical manufacturers are willing to cope with the many challenges posed by imports," Nga said.
Currently Nga''s products are exported to only to Russia and the Philippines. Strict rules on non-tariff barriers and technical standards hampered her company in exporting to more countries.
In order to better penetrate the world market, Hau Giang plans to seek business partners with a view to making them distributors of Hau Giang''s medicines extracted from herbs. "By integrating into the world market, we will be able to take advantage of financial resources, a large market and new technologies, the ultimate factors that lead to our survival and growth," Nga said.
But the WTO entry does not mean that everything will be rosy for Vietnam.
The country still has a long way to go in improving its investment and business climate. In his address to the nation about the accession, Prime Minister *************** recognised this. ''''We should realise the challenges that we have to confront, especially when the country is at a low development level with weaknesses in state administration," he said.
There are currently 250,000 enterprises in Vietnam, and that number is expected to double by 2010. The government''s big concern is how to ensure competitiveness and sustainable growth in the midst of international economic integration.
WTO membership will make little immediate difference to most footwear and garments companies. They already enjoy easy access to the markets of the United States and the European Union, as a result of market access agreements.
WTO membership will force Vietnam to open its market. Local enterprises that are equipped with out-of-date technologies and unfamiliar with WTO practices will find it hard *****rvive. Tough competition is also expected in such lagging sectors such as services, steel, auto assembling and agriculture.
Moreover, implementing the WTO commitments will require the country to retrain thousands of bureaucrats, and the new competition from foreign companies as markets gradually open could drive inefficient state-run businesses into bankruptcy, threatening jobs in a sector that still employs millions of workers.
WTO membership will require Vietnam to allow foreign investors to tap into previously restricted sectors such as telecommunications, banking and insurance.
"We need five years more to be able to compete with foreign banks," Tran Phuong Binh, general director of Dong A Joint Stock Bank told IPS.
"There will surely be a flow of high-grade and professional human resources from local to foreign banks because the need for human resources grows by at least 50 percent per year," said Le Dac Son, a director at the VP Bank said.
Truong Gia Binh, director general of FPT, Vietnam''s leading telecom company shares Son''s concern when he said, "After WTO, computer and IT (information technology) companies in Vietnam will experience a hard competition in terms of human resources from foreign businesses." FPT has already signed a memorandum of understanding with Microsoft to train young professionals and develop software in Vietnam.
"The WTO is sort of the stamp of approval that many, many large American companies have been waiting for. They are just going to flood into this country," predicted Tim Tucker, country manager for Ford Motors that has already set up an assembly plant in northern Vietnam.
But, for now, many U.S. businesses are unable to exploit the opportunities offered by Vietnam''s entry to WTO because the U.S. Congress has decided not to grant permanent normal trade relation (PNTR) status yet because of this country''s poor human rights record.

What is the WTO?
The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the worldõ?Ts trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.
FACT FILE
Location: Geneva, Switzerland
Established: 1 January 1995
Created by: Uruguay Round negotiations (1986-94)
Membership: 151 countries on 27 July 2007
Budget: 182 million Swiss francs for 2007
Secretariat staff: 625
Head: Pascal Lamy (Director-General)
Functions:
õ? Administering WTO trade agreements
õ? Forum for trade negotiations
õ? Handling trade disputes
õ? Monitoring national trade policies
õ? Technical assistance and training for developing countries
õ? Cooperation with other international organizations

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Không biết nhà BE đã to ntn rồi nữa!
Chủ đề tuần này hay quá pác Vĩnh ah!
Cho mình book 2 suất!

Hoạt động tình báo đấy , cái đề tài này hay mờ khoai è ra , ngày xưa ko hiểu sao nhóm em lại làm bài í nhờ, hình như là bị chỉ định (chứ chẳng nhẽ lại ngố đi chọn cái đề khó nhằn này nhờ )

duyệt!...
đề tài WTO rứt hay! hoan hô bác Vinh!

Khi nào cần người phụ trách mảng ĐÚ thì iêm xung phong he he

ăc ăc Cứ thấy ăn chơi là y như rằng

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Thế nếu có mảng ABC con thạch thùng thì cho tớ làm hội viên với