New Year celebration card sent by President Truong Tan Sang

In an interview granted to the press on the threshold of the New Year 2016, the State leader said that a number of bilateral and multilateral free trade agreements signed in 2015 would help expand the market, mobilise more resources and boost advanced technology transfer. However, they would also pose huge challenges to the local economy and business community.

Although 2015 was a difficult year, both domestically and regionally, Viet Nam still saw positive socio-economic development, relatively high economic growth and macro-economic stability, he said.

He expressed his belief that with the strength of the country, the leadership of the Party and State, and the growth of the entrepreneur community, Viet Nam's integration in the new period would be a success.

Asked about how to have a professional state apparatus to meet new integration requirements, President Sang emphasised the need to increase the validity and efficiency of State management.

"To develop the country during the integration process, it is necessary to have closer coordination between domestic and foreign resources, in which the former are decisive and the later are extremely important," he suggested.

However, alongside integration, Viet Nam should build an independent and self-reliant economy, he added.

According to the President, in the coming times, official development assistance (ODA) and foreign direct investment (FDI) pouring into Viet Nam may continue rising.

However, the country should not rely much on these two resources as after 2017 and 2018, ODA interest rates imposed on Viet Nam, a middle-income country, would be higher than that of the past 30 years.

The country could also attract more foreign investments, but would need to select them thoroughly so as to boost its economic restructuring.

President Sang said that during the resource mobilisation process, corruption prevention and thrift practice continued to be a consistent policy and action of all sectors at all levels.

He requested close management and effective use of the resources, especially the prevention of corruption and wastefulness.

"When any negative problem arises, both the individual and collective involved have to bear responsibility for it," he noted.

Regarding factors that help Viet Nam overcome serious challenges on territorial integrity and sovereignty, the President said that in the context of globalisation, "Viet Nam wishes to be a friend of all nations in the international community, for peace, cooperation and development".

"The more our friends are, the bigger the international community's support for our national renewal, construction and defence is. This creates a great strength for us to firmly safeguard sovereignty and territorial integrity," he affirmed.

With the continued implementation of the policy of "more friends, fewer enemies" and "putting the past behind and looking towards the future," Vietnam would surely receive more support from the world, and achieve more stable growth, thus helping the country overcome all challenges and firmly safeguard its national sovereignty and territorial integrity, he concluded.

VNS