Forum seeks measures to boost economic development in Mekong sub-region

Friday, 2014-10-17 17:32:53
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NDO – The 2014 Mekong Sub-region Development Co-operation Forum, themed ‘ASEAN Economic Community 2015 – Opportunities and Challenges’, took place in Hanoi on October 17. 

The forum aims to enhance co-operation and facilitate economic development for the common interests of Cambodia, Laos, Myanmar, Thailand, Vietnam and the two Chinese provinces of Yunnan and Guangxi, turning the Mekong into a developed and prosperous region in the Southeast Asia.

Addressing the gathering, Phuong Huu Viet, Chairman of the Vietnam – Laos – Cambodia Association for Economic Co-operation Development said that the forum would benefit the Vietnamese business community, particularly businesses investing in ASEAN countries, and help them exchange information and contribute ideas to preparations for integration into the ASEAN Economic Community (AEC).

The forum focused on relevant agencies’ participating in negotiations to supply information about conditions which businesses must observe when integrating into the ASEAN Community. It also discussed State management agencies’ roles in addressing business obstacles, suggesting independent solutions and forming alliances to support Vietnamese businesses when joining the ASEAN Community in 2015.

According to Vu Van Chung, deputy director of the Foreign Investment Agency, Vietnam’s competitiveness would be challenged in economic integration as many Vietnamese businesses would face difficulties in the local market and in expanding markets to other ASEAN member countries.

In addition, the AEC would facilitate investors inside and outside the bloc to access other newly emerging markets in the region, thus Vietnamese businesses would face further competition, Chung said.

To address the matter, the Government and relevant agencies have taken such measures as continuting policy of ASEAN economic integration; enhancing multilateral and bilateral co-operation inside and outside the bloc; boosting improvements in the legal system related to investment and trade; as well as administrative reforms in construction, land, customs, tax, social insurance and recruitment, Chung added.

Former Deputy Prime Minister Vu Khoan agreed with the mentioned solutions, saying that thorough internal preparations should be made to grasp opportunities and enhance the businesses’ competitiveness.

VNA - Translated by NDO