Joining in ASEAN economic community opens new opportunities for Vietnamese enterprises

Economic Research Institute for ASEAN and East Asia (ERIA) in collaboration with Ministry of Trade and Industry held a seminar on Vietnam’s position in the ASEAN Economic Community (AEC) in 2015 yesterday.
The seminar called “Upgrading Vietnam’s position towards AEC 2015 and beyond” aimed to strengthening experience exchange, taking advantages of AEC to overcome difficulties, challenges in the future.
General Secretary of ASEAN Le Luong Minh said that Vietnam achieved successes in economic growth through promoting economic investment as well as export between ASEAN markets after the country joined the community.
From now ASEAN Economic Community will implement cutting taxation as well as continue to promote investment in order to develop economy, reduce gap between rich and poor countries in the region, added the General Secretary.
Speaking at the seminar, Dr. Ponciano S. Intal Jr., a senior researcher of ERIA affirmed that ASEAN was the potential place to attract investment of counties all over the world. Particularly, Vietnam is one of the countries attracted investment of Korea leading enterprise–Samsung.
Dr. Ponciano S. Intal Jr. stressed that Vietnam needed an investment incentive policies for internal enterprises to strengthen the integration and competitiveness in AEC,
Basing on the result of recent survey, Dr. Vo Tri Thanh, Deputy Director of Central. Institute for Economic Management said that 71 percent of small and medium Vietnamese enterprises joined in production network in the East Asia region in the sectors of exporting, importing machines and producing goods.
It is believed that the economic community will create new favorable business opportunities for the country.
Currently, Vietnam has prepared to sign a free trade agreement with the European Union and join the Trans-Pacific Partnership Agreement.

Translated by Huyen Huong

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