Vietnam should fully and effectively implement commitments tostabilizing the macro economy and improving competitiveness andinstitutional and corporate capacity in a bid to seize opportunitiesfrom the ASEAN Economic Community (AEC), which is scheduled to be formedin 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 areport on assessment of Vietnam’s socio-economic readiness on thethreshold of the AEC.
The country needs to accelerate reforms onthe investment and business climate, improve the quality ofinfrastructure and human resources, and prefect the legal framework, henoted.
According to the report made by the Central Institute forEconomic Management (CIEM) and EU-MUTRAP , Vietnam has madegigantic progress in the field of administration. The country hasactively revised and issued many legal documents to boost a competitiveeconomic region as well as signed and joined a number of agreements inASEAN.
The report put forth policy orientations for Vietnam sothat it can be ready to seize opportunities and overcome challenges inorder to effectively participate in the regional playground, said Dr. DoHuu Hao, former Deputy Minister of Industry and Trade.
However,Tran Binh Minh, a member of the report drafting board, noted the AECparticipation of Vietnam is facing a lot of difficulties due to itslimited institutional system, weak human resources and poorinfrastructure.
Vietnam is less competitive than other regionalmarkets such Indonesia and Myanmar as its growth depends much on naturalresources and labour but not productivity, according Nguyen Anh Duong,an expert from CIEM.
Acknowledging Vietnam’s efforts in the AECintegration, Dr. Vo Tri Thanh, CIEM Vice Director, said that the countryhas implemented the National Single Window Mechanism (NSW) since 2005and operated the Vietnam Automated Cargo and Port Consolidated Systemand the Vietnam Customs Information System (VNACC/ASIC) in 165 out of174 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 areport on assessment of Vietnam’s socio-economic readiness on thethreshold of the AEC.
The country needs to accelerate reforms onthe investment and business climate, improve the quality ofinfrastructure and human resources, and prefect the legal framework, henoted.
According to the report made by the Central Institute forEconomic Management (CIEM) and EU-MUTRAP , Vietnam has madegigantic progress in the field of administration. The country hasactively revised and issued many legal documents to boost a competitiveeconomic region as well as signed and joined a number of agreements inASEAN.
The report put forth policy orientations for Vietnam sothat it can be ready to seize opportunities and overcome challenges inorder to effectively participate in the regional playground, said Dr. DoHuu Hao, former Deputy Minister of Industry and Trade.
However,Tran Binh Minh, a member of the report drafting board, noted the AECparticipation of Vietnam is facing a lot of difficulties due to itslimited institutional system, weak human resources and poorinfrastructure.
Vietnam is less competitive than other regionalmarkets such Indonesia and Myanmar as its growth depends much on naturalresources and labour but not productivity, according Nguyen Anh Duong,an expert from CIEM.
Acknowledging Vietnam’s efforts in the AECintegration, Dr. Vo Tri Thanh, CIEM Vice Director, said that the countryhas implemented the National Single Window Mechanism (NSW) since 2005and operated the Vietnam Automated Cargo and Port Consolidated Systemand the Vietnam Customs Information System (VNACC/ASIC) in 165 out of174 customs offices nationwide.-VNA
