The government of Vietnam has said on its website that it has recently approved a strategy to protect domestic industrial production to 2010, following international commitments and WTO regulations.
Under the strategy, the government will continue supporting domestic industrial producers to help them enhance their competitiveness in both domestic and international markets.
The responsible bodies will capitalize on tax and non-tax measures to assist domestic industrial producers and businesses in all economic sectors, especially in key industries and those chosen by the government to receive priorities.
Based on tax reduction itineraries set with the WTO, the government will use tax measures such as anti-dumping and safe guard tools to protect a number of necessary industries, helping them avoid unfair competition from imported goods.
As for non-tax measures, the government will maintain investment incentive policies that conform with WTO regulations, to support domestic production. Development research, education, training and investment on equipment and technology will also be carried out.
Under the strategy, the government will also call for a boost in foreign investment in hi-tech, environmentally friendly and fuel efficient industries.
Measures to minimize rampant investment and investment in industries without long-term strategies were also noted in the Government’s overall strategy.
The government said it would encourage businesses to work closely with each other to ensure there would be enough material resources and that processing and distribution in the market would be effective.
Businesses will also receive help in trade and investment promotion, as well as be given information to set suitable business strategies.
The strategy also mentions the removal of subsidies, so that prices of all commodities and services in the market will gradually match market prices, in line with WTO commitments. (VNS)
Vietnamese
