Deputy Minister of Industry and Trade Nguyen Cam Tu NDO - Nhan Dan reporter Phan Hoang held a talk with Deputy Minister of Industry and Trade and General Secretary of the National Committee for International Economic Co-operation, Nguyen Cam Tu, on Vietnam's preparations for the upcoming establishment of the ASEAN Economic Community (AEC) in late 2015. Q: The AEC, which will be formed at the end of 2015, is considered a historic milestone in ASEAN regional integration, lifting the region's economic connectivity to a new height. Can you please discuss how Vietnam is preparing for this significant turning-point?A: Vietnam has prepared policies, mechanism, and a legal and technical framework in preparation for the establishment of the AEC in late 2015. After the ASEAN Charter came into effect in 2009, the Vietnamese government signed Decision No.142/QĐ-TTg stipulating working regulations and co-ordination between Vietnamese agencies participating in ASEAN. Under the decision, the … [Read more...] about Actively preparing to join the ASEAN Economic Community
Asean economic community
60-70% of Vietnamese unaware of ASEAN Economic Community: Deputy PM
Many local people and businesses are still unaware of the integration process Vietnam is taking part in, though they have lived within the ASEAN Economic Community (AEC) for many years, Pham Binh Minh, Deputy Prime Minister and Minister of Foreign Affairs, said at a conference held in Ho Chi Minh City on Friday last week. According to Deputy Prime Minister Minh, by the end of 2015, Vietnam must complete the last line of commitments, including political, security and defense, economic and social pledges, to building the AEC, Deputy PM Minh said at the conference on a number of problems Vietnam will face in international integration starting this year. According to the Vietnamese diplomat, compared to other countries in the region, the proportion of Vietnamese people who understand the benefits brought through the AEC is very low, as about 60-70 percent of the respondents did not understand that EU-style community. This is an alarming figure, he said at the conference. … [Read more...] about 60-70% of Vietnamese unaware of ASEAN Economic Community: Deputy PM
Business leaders convene to support realization of ASEAN Economic Community
More than 300 leaders of top businesses from across the ASEAN region converged at the ASEAN Business Club (ABC) Forum 2014 in Singapore on September 8 and 9 to tackle trade and industry issues and support the implementation of one ASEAN Economic Community (AEC). A critical consideration deriving from the forum was the readiness of governments and ASEAN member states for an integrated economic region under the AEC and the role that ASEAN business leaders can play to accelerate relevant efforts and harness ASEAN's potential, the ABC said Friday in a press release. … [Read more...] about Business leaders convene to support realization of ASEAN Economic Community
Continuing the Plan for ASEAN Economic Community
(VEN) - ASEAN countries will continue to implement the Overall Plan for Building the ASEAN Economic Community in 2015. ASEAN economic ministers affirmed that at the 42nd ASEAN Economic Ministers' Meeting (AEM-42) and the 4th ASEAN Economic Community Council Meeting (AEC-4) held on August 25 in Da Nang. Towards balanced, stable and sustainable development Vietnamese Minister of Industry and Trade Vu Huy Hoang said that Vietnam has created a theme for the meetings affirming ASEAN's new direction - not only emphasizing economic growth but also driving towards balanced, stable and sustainable development. The theme also matched the general theme for ASEAN 2010, "Towards the ASEAN Community: From Vision to Action" and ASEAN Leaders' Statement on "Economic Recovery and Sustainable Development" initiated by Vietnam this April in Hanoi. This was a time for ASEAN economic ministers to discuss general directions and specific measures to promote ASEAN economic cooperation and reach the … [Read more...] about Continuing the Plan for ASEAN Economic Community
The ASEAN Economic Community Really Counts
The ASEAN Economic Community Really Counts By P. D. Nguyen With the ASEAN Economic Community (AEC) expected to spring to life in 2015, foreign investment in this region has picked up since last year At the end of 2011, the total gross domestic product (GDP) of the 10 member countries of the Association of Southeast Asian Nations (ASEAN), with about 620 million consumers, reached some US$1.8 trillion, up 170% from that of 10 years ago and accounting for approximately 6% of global trade. While those living in ASEAN countries are mainly poor, the middle class is on the rise and development opportunities abound. The Asian Development Bank forecasts that ASEAN’s GDP per capita in 2030 will be US$9,012 (China’s, Japan’s and Korea’s are US$12,361, US$40,415 and US$41,674 respectively). Foreign direct investment (FDI) in this region has posted encouraging results and amounted to US$79.9 billion in 2011, below the figure for China (US$124 billion) but far higher than … [Read more...] about The ASEAN Economic Community Really Counts