Vietnam, U.S. Launch Support for Legal Implementation for Economic Integration Project

Vietnam, U.S. Launch Support for Legal Implementation for Economic Integration Project
Vietnam's Ministry of Justice and the U.S. Agency for International Development (USAID) on June 14 formally launched the Project that will provide $11.7 million to support the Government of Vietnam for Legal Implementation for Economic Integration. Standing Vice Minister of Justice Hoang The Lien, US Deputy Chief of Mission in Vietnam Virginia E. Palmer and USAID Mission Director Francis Donovan attended the conference.
The three-year project, extending through September 2013, will assist the Government of Vietnam as it implements new legal documents to fulfill the country's international commitments in the World Trade Organization (WTO) and other trade and investment related agreements.

The project works closely with 17 Vietnamese institutions, including the National Assembly, the Supreme People Court, the Supreme People's Procuracy, the Office of the Government, the Ministry of Justice, the Ministry of Trade and Industry, the Ministry of Planning and Investment, and the Ho Chi Minh Academy for Political and Administrative Development; to implement new LNDs, train staff, help develop institutions, and build the capacity of state agencies and support Vietnam's further global economic integration, including preparation of legal conditions required to participate in multilateral international treaties.

"We should all hope that this Project wilt proactively contribute to building the rule of law state, improving business environment to be more transparent and compatible to international practices and WTO;  and building a competitive and sound business environment for investors of all  economic sectors so that  they can successfully compete and are able to take opportunities resulting from trade liberalization", said Standing Vice Minister of Justice Hoang The Lien

"This new project demonstrates the U.S. government’s commitment to support Vietnam in improving the legal and economic frameworks that foster trade and investment between Vietnam and  the United States," said US Deputy Chief of Mission in Vietnam Virginia E. Palmer. "To date, the results have been impressive; trade between our two nations has multiplied by fifteen times since 2000."

The U.S. has been supporting Viet Nam continuously since 2001. Significant achievements of this cooperation include support for Trade Acceleration (USAID/STAR) projects which provided technical assistance in the areas of trade policy, rule of law, economic governance, and macro-economic policy. This assistance has helped Vietnam make necessary legal and regulatory changes as it moves towards a market economy and meets its bilateral and international trade-related commitments./.-ITD