$12 million program to globalise Vietnam

$12 million program to globalise Vietnam article image

Australia will contribute $12 million toward a five-year program to assist Vietnam in maximising employment opportunities and reducing poverty as it integrates with the global economy. The second phase of the Beyond WTO program will aim to:

  • strengthen the institutions of the market economy in areas such as competition, state owned enterprise reform and land management;
  • help the rural sector adjust to the impact of economic integration through research and analysis of new market opportunities to inform policy making;
  • build the capacity of key Vietnamese institutions that are implementing economic reforms; and
  • work at the provincial level to support the implementation of key economic reforms.

Minister for Trade Simon Crean announced the funding and said it would ensure Vietnam "is positioned to take full advantage of the resumption of trade and investment flows when the current global recession is over". Beyond WTO is a joint initiative of Australia, the UK, Vietnam and the World Bank. Crean said Australia would also fund the Vietnam Agriculture Cooperation Program to allow improved pest risk analysis and pesticide residue detection for Vietnam to comply with international standards for traded goods.


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