Opportunities, challenges to Vietnam in ASEAN Economic Community

Founded on December 31, 2015, the AEC was built on political-security, economic and socio-cultural pillars, towards building a politically-connected, people-oriented community with vibrant economic growth. 

Since joining the ASEAN in 1995, Vietnam has been an active member and has made significant contributions to the bloc. 

With the birth of the AEC, ASEAN has become a common and united market that facilitates trade, services, investment, science-technology, labour, employment, innovation and institutional reform, pushing Vietnam’s global economic integration. 

However, the AEC also poses challenges to Vietnam, including big gaps in economic power, science-technology standards and workforce quality between Vietnam and ASEAN, experts said at the seminar. 

Participants discussed the competitiveness of businesses and the Vietnamese economy in the AEC and the world, and proposed measures to improve Vietnam’s competitiveness. 

The event, held by the Ho Chi Minh National Academy of Politics, allows scientists, policymakers and the business community to identify both opportunities and challenges, and recommend corresponding solutions.