HA NOI — The Ministry of Justice together with the US Agency for International Development (USAID) yesterday launched a project in Ha Noi to support the Vietnamese Government in implementing legal economic integration.

Minister of Justice, Ha Hung Cuong, ratified the three-year, US$11.7 million project, on April 27.

According to the Standing Deputy Minister of Justice, Hoang The Lien, the project marks a milestone in co-operation between Viet Nam and the US in economic integration.

The project aims to assist Viet Nam in global economic integration and fulfilling its commitments to multilateral international treaties.

"The project will help improve Viet Nam's business environment, making it more transparent and compatible with international standards and the World Trade Organisation," Lien said.

Viet Nam aimed to creat a more competitive and sound environment in which investors could utilise opportunities resulting from trade liberalisation, he added.

According to Lien, the project will involve 17 ministries and sectors.

At the launch ceremony, US Charge d' Affaires Virginia E Palmer emphasised the project's significance in developing the long-term partnership between the US and Viet Nam.

She said that the US hoped to become Viet Nam's leading investor, committed to support the country in improving its legal and economic framework while boosting bilateral trade between the two nations.

"To date, trade between our two countries has multiplied by 15 times since 2000," Palmer added.

(Source: VN+)