Vietnam should fully and effectively implement commitments to stabilizing the macro economy and improving competitiveness and institutional and corporate capacity in a bid to seize opportunities from the ASEAN Economic Community (AEC), which is scheduled to be formed in late 2015.
The suggestion was made by Le Xuan Sang, specialist from the European Trade Policy and Investment Support Project (EU-MUTRAP), at a workshop in Ho Chi Minh City on December 19 on a report on assessment of Vietnam’s socio-economic readiness on the threshold of the AEC.
The country needs to accelerate reforms on the investment and business climate, improve the quality of infrastructure and human resources, and prefect the legal framework, he noted.
According to the report made by the Central Institute for Economic Management (CIEM) and EU-MUTRAP , Vietnam has made gigantic progress in the field of administration. The country has actively revised and issued many legal documents to boost a competitive economic region as well as signed and joined a number of agreements in ASEAN.
The report put forth policy orientations for Vietnam so that it can be ready to seize opportunities and overcome challenges in order to effectively participate in the regional playground, said Dr. Do Huu Hao, former Deputy Minister of Industry and Trade.
However, Tran Binh Minh, a member of the report drafting board, noted the AEC participation of Vietnam is facing a lot of difficulties due to its limited institutional system, weak human resources and poor infrastructure.
Vietnam is less competitive than other regional markets such Indonesia and Myanmar as its growth depends much on natural resources and labour but not productivity, according Nguyen Anh Duong, an expert from CIEM.
Acknowledging Vietnam’s efforts in the AEC integration, Dr. Vo Tri Thanh, CIEM Vice Director, said that the country has implemented the National Single Window Mechanism (NSW) since 2005 and operated the Vietnam Automated Cargo and Port Consolidated System and the Vietnam Customs Information System (VNACC/ASIC) in 165 out of 174 customs offices nationwide.-VNA
The suggestion was made by Le Xuan Sang, specialist from the European Trade Policy and Investment Support Project (EU-MUTRAP), at a workshop in Ho Chi Minh City on December 19 on a report on assessment of Vietnam’s socio-economic readiness on the threshold of the AEC.
The country needs to accelerate reforms on the investment and business climate, improve the quality of infrastructure and human resources, and prefect the legal framework, he noted.
According to the report made by the Central Institute for Economic Management (CIEM) and EU-MUTRAP , Vietnam has made gigantic progress in the field of administration. The country has actively revised and issued many legal documents to boost a competitive economic region as well as signed and joined a number of agreements in ASEAN.
The report put forth policy orientations for Vietnam so that it can be ready to seize opportunities and overcome challenges in order to effectively participate in the regional playground, said Dr. Do Huu Hao, former Deputy Minister of Industry and Trade.
However, Tran Binh Minh, a member of the report drafting board, noted the AEC participation of Vietnam is facing a lot of difficulties due to its limited institutional system, weak human resources and poor infrastructure.
Vietnam is less competitive than other regional markets such Indonesia and Myanmar as its growth depends much on natural resources and labour but not productivity, according Nguyen Anh Duong, an expert from CIEM.
Acknowledging Vietnam’s efforts in the AEC integration, Dr. Vo Tri Thanh, CIEM Vice Director, said that the country has implemented the National Single Window Mechanism (NSW) since 2005 and operated the Vietnam Automated Cargo and Port Consolidated System and the Vietnam Customs Information System (VNACC/ASIC) in 165 out of 174 customs offices nationwide.-VNA
