Vietnam is among the leading nations in implementing the commitments to the establishment of the ASEAN Economic Community (AEC), said a Vietnamese official.
Deputy Minister of Industry and Trade Tran Quoc Khanh at the event (Source: VNA)
Singapore (VNA) – Vietnam is among theleading nations in implementing the commitments to the establishment of theASEAN Economic Community (AEC), said a Vietnamese official.
Deputy Minister of Industry and Trade Tran QuocKhanh made the remark on the sidelines of the 24th ASEAN Economic Ministers’Retreat (AEM Retreat 24), which took place in Singapore on March 1-2.
According to him, Vietnam has actively collaboratedwith ASEAN countries in developing the Trade Facilitation Index (TFI) tomeasure the level in each member state. Based on it, ASEAN will giverecommendations to each nation on measures to be improved to reach the goals ofreducing 10 percent in trade costs by 2020 and doubling the intra-bloc tradevalue by 2025.
The country has also proactively implemented theinitiative on the ASEAN Wide Self-Certification (AWSC), which aims toreplace two other pilot mechanisms on self-certification.
The AWSC will help Vietnamese entrepreneurs self–certifytheir products to ship to nine other ASEAN nations rather than to several ones,which helps save them time, costs, and resources.
During the two-day retreat, ASEAN economicministers reached agreements on priorities designed by the host to promotee-commerce, trade facilitation, services and integration, thus creating afavourable business climate via realising the targets of the AEC Blueprint2025.
According to Singapore's Minister for Trade andIndustry Lim Hng Kiang, the priorities Singapore plans to pursue in 2018 will bringin visible benefits to ASEAN businesses and residents alike thanks to lowercosts, more abundant materials and more favourable conditions for trade andinvestment.
ASEAN has achieved initial successes with thelaunching of the ASEAN SingleWindow (ASW) and ratification of the ASEAN Declaration on Cruise Tourism todevelop sea tourism in the region, he said.
ASEAN, or the Association of Southeast AsianNations, groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, thePhilippines, Singapore, Thailand, and Vietnam.-VNA
ASEAN trade ministers have pledged to accelerate the establishment of the ASEAN Economic Community by 2015 and closely coordinate with partners in the fight against global economic slowdown.
Councils of ten Southeast Asian nations’ cities have pledged their cooperation in regional sustainable development during the first-ever ASEAN City Council Meeting in Bangkok.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
Deputy Minister of Industry and Trade Tran Quoc Khanh at the event (Source: VNA) 
