Prime Minister Phạm Minh Chính Attends FTA Index Launch Ceremony
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On April 8, 2025, the Ministry of Industry and Trade (MOIT), in coordination with the Government Office, held the official launch ceremony of the FTA Index 2024 — a comprehensive assessment framework measuring how effectively Vietnam’s 63 provinces and cities implement Free Trade Agreements (FTAs).
Prime Minister Phạm Minh Chính attended the event and delivered a keynote address emphasizing the importance of the FTA Index in promoting transparency, accountability, and efficiency in Vietnam’s international economic integration.
FTA Index: A Milestone for Vietnam’s Economic Integration
The launch of the FTA Index marks an important step in Vietnam’s ongoing efforts to enhance FTA implementation, improve coordination between government levels, and help businesses optimize benefits from trade agreements.
According to Minister Nguyễn Hồng Diên, the FTA Index serves as a quantitative and objective tool that measures the performance of FTA commitments across all localities.
“This index provides a transparent, data-driven foundation for evaluating how well provinces and cities utilize FTAs, helping identify both strengths and bottlenecks in local implementation,” said Minister Diên.
He added that the world is witnessing intensifying trade and geopolitical competition, with growing protectionism—especially following the U.S. decision to impose retaliatory tariffs of 10%–49% on imports from multiple countries. In such a context, FTAs remain “major highways” facilitating global trade and connecting Vietnam’s economy to the world.
Enhancing Vietnam’s Global Trade Performance
Vietnam’s active participation in FTAs over the past decade has enabled its goods to integrate deeper into global supply and production chains, contributing to sustained export growth and a consistent trade surplus.
However, implementation challenges persist:
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Uneven FTA utilization across provinces and business sectors;
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Limited awareness and capacity among small and medium enterprises (SMEs);
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Difficulties in meeting strict origin, labor, and environmental standards.
The FTA Index aims to address these issues by offering a clear picture of each locality’s performance, allowing policymakers to design more effective, evidence-based trade and investment strategies.
Prime Minister’s Remarks: Integration Must Be Independent and Self-Reliant
In his address, Prime Minister Phạm Minh Chính described the FTA Index as a systematic and scientific tool, developed through surveys of enterprises in all 63 provinces.
“The FTA Index provides transparent, reliable data to guide national and local authorities in managing and advancing Vietnam’s international integration,” the Prime Minister stated.
He stressed that integration must go hand in hand with independence and self-reliance, noting:
“We welcome all partners who come to Vietnam in good faith, but integration must not come at any cost. It must be based on the core values, wisdom, and spirit of the Vietnamese people.”
Prime Minister Chính reaffirmed Vietnam’s vision for 2045—to become a developed, high-income nation, with a minimum 8% growth target in 2025, driven by both traditional and new growth engines, including FTA expansion.
Expanding Global Partnerships and Strengthening Local Capacity
Vietnam currently has 17 FTAs with over 60 trade partners, a testament to its growing credibility and integration into the global economy.
The Prime Minister emphasized that Vietnam will continue pursuing new FTAs with Brazil, India, and Middle Eastern nations to diversify markets and supply chains.
He urged ministries and localities to:
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Strengthen decentralization and reduce 30% of administrative procedures and costs in 2025;
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Improve the business and investment environment;
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Enhance tax and land-use incentives for enterprises to improve their FTA Index rankings.
“This Index is not only a measure of trade performance but a reflection of policy effectiveness and local governance,” the Prime Minister concluded.
Looking Ahead: FTA Index as a Strategic Policy Tool
The FTA Index 2024 serves as a pioneering instrument to evaluate FTA implementation and policy coordination between national and local authorities.
It reflects the Government’s commitment to transparent governance, fair competition, and sustainable growth.
By institutionalizing annual FTA Index assessments, Vietnam aims to:
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Strengthen accountability among provinces;
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Improve coordination between ministries and localities;
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Empower businesses to maximize FTA benefits and expand export potential.