 Thank you, Professor Chun-Ren. Good afternoon, everybody. Today I would like to concentrate more on the industrial policy of Vietnam, so because I think it is the main part of our scoping paper for Vietnam and maybe I can withdraw some lessons from Vietnam, lessons that can be learned from Vietnam for the other country, such as those that come from Africa. I will present two or four issues. For the content consists of four parts. The first one is I would like to go to brief quickly about the Vietnam growth battle and then I go to the main part of my presentation. It is about the industrial policy and then I will show some major outcomes of our industrial policy with the problems and finally I would like to withdraw some lessons learned from Vietnam. Now quickly to the growth battle of Vietnam in the past. As you can see the GDP growth rate averaged more than 7% in the past 20 years. Unfortunately Vietnam could not keep the high growth rate after its WTO accession in 2007. As you can see that growth in Vietnam here tends to decline after Vietnam's WTO accession from 2008. What about the growth rate of the different sector? Here you can see that the we can see here that the growth of the industry and construction experienced the highest growth among the different sector from 1992 to 2007. After Vietnam joined the WTO, the industry sector growth tends to decline. Even though thanks to the high growth rate, the industry sector, industry and construction sector could expand its share in GDP and became the important driver of economic growth, GDP growth in Vietnam. So you can see here from the figure that the contribution of industry and construction sector was about nearly 38% in the GDP growth rate, not GDP. So now I would like to talk more, to present more of the industrial policy in Vietnam. Here the question here are what are the objectives of the industrial policy in the past? What key instruments have been implemented to achieve these objectives? And what are the major outcomes and what can we realize the major problems of the our industrial policy in the past? I would like to show the evolution of the industrial policy over time in terms of objective, in terms of key instruments. So here in the first period from 1991 to 1995 the objective of the industrial policy in Vietnam was to develop the key sectors, including heavy industries like cement, steel and automobile, mainly for domestic consumption. And another objective was to develop the natural resource-based industries such as oil exploitation and mining industries. In this time the government also gradually developed the foodstuff industries, but mainly for domestic consumption. Besides it's also encouraged gradually the export of manufactured labor intensive products. So what is about the objective from the in the next period from 1996 to 2000? The objective is still continue what the one, the one that has been implemented in the first period, however, but with more export oriented attempt. So in this sector, in this period also the industrial policy also was aiming at expanding the manufacturing and processing labor intensive industries. And mostly for export, for example here textile shoes and leather products and also seafood in this period. Now and for the next period from 2001 to 2005 the objective of the industrial policy followed the one that has been implemented in the previous period, but more export oriented and with an expansion of the manufacturing sector towards high tech industries such as electronics while still maintaining the labor intensive sector. So I think this this period you know it is the Vietnam side with the USA, the bilateral Vietnam USA trade agreement and the BTA agreement has certain impact on the Vietnam economy and also a certain impact on the industrial development here. Now I would go to the next period, the key goal of the industrial policy was the same such as in the previous period but with the priority of boosting the economic structural change towards industrialization and modernization of the country with more export oriented to take advantage of the WTO accession of Vietnam in 2007. So one another key instruments of the industrial policy has been implemented to achieve these objectives that I mentioned before. So in the period from 1991 to 1995 the key instrument in this period who are the tariff and non-tariff barriers to protect the domestic production here. It is for example for the to protect the heavy industry sector like cement, steel, automobile industries. At the same time the government also pushed the implementation of the law on foreign investment that was enacted in 1988 to attract foreign direct investment and the government also pushed forward with the implementation of the company law that is passed in 2019-92. So for the next period from 1996 to 2000 the government the key instruments were different. For example here the government implemented the five-year public investment program mostly to attract the investment for development of physical infrastructure for industry development. So in the same time the government also have done equitization of the state-owned enterprises and built of the state a general cooperation to enhance the competitiveness of the state sector in Vietnam. So you know in Vietnam before for the renovation process in before prior to 1990. So the economy of Vietnam consisted mostly of the state-owned sector. So we at prior 1990 the private sector was quite weak. So another key instrument in the period was to develop the industrial zones export processing zones to provide production size for the to attract the investment including foreign direct investment private investment so into the country. In this period also the government also the condition for export activities have been also loosened after Vietnam became the ASEAN member in 1995 and Vietnam has to implement the APEAN commitments within this into into the ASEAN ASEAN countries. In the period from 2001 to 2005 the same key instrument has been have been implemented in this period. But here the key instrument maybe were redirected to the trade liberalization thus it's mostly driven by the Vietnam USA trade bilateral trade agreement since 2001. In this period the state also accelerate the equalization of the state-owned enterprises sector to cope with the WTO assessment. From 2006 to 2010 the trade is liberalized it is mostly driven by the assessment to the WTO and the investment also liberalized mostly driven by the unified law on investment and law on enterprise. So here I could like to explain so in Vietnam before 2005 we have had different law. First we have we have had a law on foreign direct investment and then we have also another law for domestic investment promotion and because Vietnam have to would like to to have access to WTO yeah as respond to this Vietnam merged the two laws into one law it is the law on investment. The same also was for the law on enterprise before we we have the law on company and private enterprises and similarly we have also the law on state-owned enterprises and after to Vietnam in the preparation process to enter the WTO Vietnam merged two laws into one law it is the law on enterprise. Those have been passed in 2005. Another key instrument was the building of state economic groups to enhance the competitiveness of the SOE sector and also it's another instrument is to build here high tech zones economic zones it is different from industrial zones and export processing zones so in Vietnam we have so different zones it is economic zones open economic zones to provide more prioritized incentive to attract investment including private investment and foreign direct investment in this period so instrument such as tech incentives investment allowance have been also given to the technology renovation to develop high-tech technologies to promote the technology transfer via foreign investment at this period some laws have been passed for example law on technology transfer and also law on high technology so what about the current industrial policy now in Vietnam the current industrial policy in Vietnam is covered and implemented by the social 10-year socio-economic development strategy to 2011 to 2020 and it is also implemented in the context of full implementation of AFTA in 2018 so at the same time Vietnam have also to implement its commitments to WTO that means there is much smaller room for administration policy intervention so here I would like to explain something to AFTA in now Vietnam have to to implement the AFTA commitment and until 2018 all the tax import duties yeah import duties have been reduced to zero percent in 2018 and the objectives of this the current policy is to improve the industrial competitiveness toward expanding high-tech industries and high-value added products also to improve the competitiveness of the domestic firm including SOEs and private ones the another goal of this current industrial policy is also to support export oriented policy of Vietnam but towards product with high value added that means we move from the export oriented what's based on labor intensive now we would like to move forward to export oriented policy however but to towards product with high value added so now to the key instrument in this period are many so I would like to highlight here some key instrument such as restructuring industrial production toward increasing technology and local content to create the linkages with the regional and global production network another key instrument is restructuring the SOE sector for coosing first on the state economic groups that's a project has been started since 2011 and the government also give more incentive to build supporting industries and also adjust the foreign direct policy to attract foreign investment with more technological content and to develop environment friendly industries and in this another key instruments that now are implemented include financial incentive and tech incentives however I would say that's all these are instruments are still in ongoing process and some instruments here are still not yet approved as seen in the formulation process now what does the major outcome of the industrial policy here so I would like to hide highlight here six points six outcome the first the industrial policy had put the growth of the industrial sector and also put rapid expansion of the manufacturing sector is also play an important role in attracting foreign direct investment into the country it's also contribute to export performance and industrial policy also contributed to promote the shift of industrial production towards the non state sector and also to contribute to promote the shift in export structure towards the manufacturing group here I would like to show you some figure about the outcome of our industrial policy here it is the foreign direct investment in the period you can see today in 2012 Vietnam attracted more than 200 billion US dollar of foreign direct investment however you can see here after Vietnam have a set to WTO the doubly the amount of foreign direct investment has been chopped right dramatically here is the figure to show the export and export performance and also import performance import here of Vietnam however I would say it is we have seen here is the deficit in trade balance it is another figure here shows the shift in industrial output structure by ownership you can see that the state losses its share in industrial output why the foreign direct investment and the private sector increase its share in industrial output this figure shows the shift in export structure to what process products the share of process product has been increased why another unprocessed decline it is a shift in export structure in this figure you can see that the heavy and mining product somehow is stable can keep its share stable and you can see here and from 2011 the heavy and mining product here still account for more than 30 percent of export in Vietnam now what are the major issue that I can okay one more one more minute on minutes yeah so I would like to highlight here five major problems of industrial policy here in Vietnam the first one is industry sector tends to grow tends to grow with the declining rate since 2008 mostly due to the slowdown of the manufacturing sector so industrial production depend increasingly on the foreign investment sector the ship into the industry with higher technological content and product with higher value added has been in stagnation export performance depends increasingly on the foreign investment sector and the SOE sectors in inefficient and now finally I would like to withdraw three lessons learned from Vietnam for maybe for Vietnam itself and also for other country the firstly is the industrial policy Vietnam set very ambitious objectives too many they specify also too many leading key industries but with unclear vision and in sufficient instruments and like a realizable action plans the second lesson here is it shows a likes of a well-coordinated framework for industrial policy here I mean that the industrial policy has been implemented not in line with trade policy and other policies such as investment incentive monetary fiscal policy and finally one more lesson I would like to withdraw from the Vietnam trade is the industrial policy shows a like a great coordinated implementation between central and provincial level that leads to the late adjustment of the objectives and instrument for the industrial policy so that in Vietnam here for example here many industrial zone have been established but with low caprice rate and also provinces in Vietnam compete with each other for attract foreign direct investment so here I would like to close my presentation here thank you