(VOVworld) – Potential opportunities from free trade agreements (FTAs) and bilateral investment trades (BITs) may become challenges if Vietnam doesn’t devise proper policies and solutions to support domestic enterprises.

To date, Vietnam has officially signed and implemented 8 FTAs.

The statement was made at a Monday’s conference in Hanoi on the expected impacts of trade deals on Vietnam’s food processing and electronics sectors.

Although they are Vietnam’s hard currency earners, local companies are mainly involved in assembling and packaging of limited added value.

Vo Tri Thanh, deputy director of the Central Institute for Economic Management (CIEM), said:

“All trade agreements will not hinder the government from updating enterprises with market information. We can help business through trade and investment promotion, infrastructure development, education and training, R&D support. Other policy commitments allow us to support small and medium sized enterprises and agricultural farming.”