Illustrative image (Photo: VNA)
Local firms’ preparations for the impact of the formation of the ASEAN Economic Community (AEC) by year’s end was the focus of discussions at a conference in Ho Chi Minh City.

The September 16 event, jointly organised by the Central Committee’s Commission for Popularisation and Education in Ho Chi Minh City and the Ministry of Industry and Trade, drew the participants from media agencies from 22 southern provinces and cities.

Luong Hoang Thai from the Ministry highlighted the opportunities presented to Vietnam by joining the AEC, saying that it will drive economic reform in Vietnam.

The formation of the AEC helps expand export markets for Vietnamese products while improving domestic production efficiency thanks to competitive material and foreign investment sources, Thai said.

Meanwhile, experts reviewed concerns over challenges from the AEC for local firms in the context of high competitiveness among regional markets.

Publicity campaigns have been conducted to raise community awareness of the opportunities and challenges from the AEC in an accurate and timely fashion, Thai said.-VNA