(VOVworld)-Redefining Vietnam’s competitive advantages through improving its capacity to cope with risk was the main theme for discussion at a conference held in Hanoi on Thursday. At the event, jointly held by the Vietnam Ministry of Foreign Affairs (MoFA) and the World Economic Forum (WEF), Deputy Minister Bui Thanh Son stressed that Vietnam’s top priority is to improve its competitiveness to meet the needs of economic development, while minimising the negative impacts of the global financial crisis.Deputy Minister of Industry and Trade Tran Tuan Anh said the Vietnamese economy has shifted from planned to  market-orientated and has gradually integrated into the world economy: “Vietnam needs to adjust its economic model, with a strong focus on enhancing the capacity of its labour, which is presently lower than many other equivalent regional and international nations. To cope with more intense competition, the government should pay due attention to raise the contributions from its key economic sectors, especially from industry and services”

The conference provides a good opportunity to share experience and work out proper policies for economic competitiveness development.