AEC

Update news AEC

 VietNamNet Bridge – With less than four months before the ASEAN Economic Community (AEC) comes into force, most all of the nation’s small businesses still lack an in-depth understanding of the importance of the single regional market.

Vietnam shifts policies to prepare for new ASEAN economic group

 VietNamNet Bridge – Deputy Minister of Industry and Trade Nguyen Cam Tu spoke with Nhan Dan (People) newspaper about getting ready for the establishment of the ASEAN Economic Community (AEC).

Vietnam GDP to gain most from TPP, AEC

Vietnam is the country likely to achieve the biggest GDP increase in percentage terms by joining the TPP and ASEAN Economic Community in almost all simulation scenarios, according to a study by the Vietnam Institute for Economic and Policy Research.

AEC – Is Vietnam ceding control of tourism to foreigners?

VietNamNet Bridge – At a recent workshop in Hanoi it was unveiled that the ASEAN Economic Community (AEC) has established a process to certify tourism professionals and as a result – tens of thousands of domestic tourism jobs are at risk. 

More foreign bankers to set foot in Vietnam

VietNamNet Bridge - The ASEAN Economic Community (AEC), in which member countries will open up to 70 percent of their banks to foreign investors, is believed to pave the way for more and more bankers to seek business opportunities in Vietnam.

Foreign investors eye stake in Vietnamese banks

VietNamNet Bridge - Though Vietnamese banks are undergoing a compulsory restructuring process, foreign investors are showing interest in purchasing stakes in banks.

Car makers at the crossroads

More than 17,920 cars were sold in Viet Nam in May, which were fewer than the month before, but still higher than the same period last year.

Domestic firms ignore AEC challenges: Experts

VietNamNet Bridge - Vietnamese businesses are oblivious to the pressures of competitiveness in the wake of ASEAN moving up the ladder from AFTA to ASEAN Economic Community (AEC) by the end of 2015.

Vietnamese bear heaviest taxes, fees in ASEAN

VietNamNet Bridge - The ratio of taxes and fees to GDP every Vietnamese has to bear is 1.4-3 times higher than in other regional countries.  

Vietnam - Proactive force for Southeast Asia in 2015

Vietnam will be a “responsible, active, and proactive” member of the ASEAN family which strives to enhance the regional bloc’s integration and aggressively supports the ASEAN Community-building process.

Vietnam fears it may lose qualified workers to ASEAN countries

VietNamNet Bridge - Labor experts have warned that Vietnam would have to fight against a brain drain when it joins the ASEAN Economic Community (AEC), slated for 2015.

Thailand to cooperate with Vietnam to develop auto industry

VietNamNet Bridge - Thailand plans to work rather than compete with Vietnam to develop its fledgling automobile industry.

Minister reveals Vietnam’s progress in AEC establishment preparations

Minister of Industry and Trade Vu Huy Hoang revealed Vietnam’s preparation progress for the establishment of the ASEAN Economic Community in an interview granted to VNA on the conclusion of the 21st ASEAN Economic Ministers’ Retreat in Malaysia.

Businesses have yet to feel effects of new import/export tariffs

Under the new import/export tariff scheme effective as of January 1, 2015, a zero tax rate is applied to many import items, but most Vietnamese businesses say this has yet to affect their business.

ASEAN Economic Community to open door for more foreign workers in Vietnam

VietNamNet Bridge – Vietnam has been warned that it could witness a strong wave of workers from ASEAN countries after the the ASEAN Economic Community becomes official next year.

ASEAN banks pose the biggest threat to Vietnamese banks, analysts say

For many Vietnamese bankers, Japanese banks are their biggest rivals in the home market. However, analysts have warned that once the ASEAN Economic Community begins next year, ASEAN banks, not Japanese, will be the most formidable rivals.

Vietnamese businesses still haven’t readied for AEC

 VietNamNet Bridge – Vietnamese businesses are still vague about the ASEAN Economic Community (AEC) – of which Vietnam is a member, though the community would form up in just two years.

VLA chairman warns of fiercer competition in logistics

VietNamNet Bridge – The chairman of Vietnam Logistics Business Association has notified that local logistics firms will have to cope with tougher competition in a very near future when Vietnam opens the market wider

GOVERNMENT IN BRIEF 11/4

  Vietnamese Foreign Minister joins regional meetings; Vietnam, Wallonia enhance cooperation; Vietnam attends 9th AEC Council meeting; Vietnam, Brazil look to strengthen ties