Vietnam has numerous opportunities for economic development due to its stable economy and ongoing reforms in key sectors, the CEO of Maybank Kim Eng Group, John Chong, said at the Invest ASEAN 2015 conference in Ho Chi Minh City on May 25.

Chong and other foreign investors participating in the conference were optimistic about Vietnam ’s economy, which is expected to grow by more than 6 percent this year.

According to the CEO, the formation of the ASEAN Economic Community (AEC) at the end of this year would create a common market of ASEAN countries in which Vietnam ’s position as the region’s manufacturing hub will be strengthened.

The country has a number of intrinsic strengths, including a young workforce and improved education quality, that make the country competitive in the global supply chain, he said.

Entitled “Vietnam: The next global factory”, the conference focused on briefing participants on investment opportunities in the ASEAN countries, including Vietnam.

Throughout the event, experts highlighted the fact that Vietnamese businesses need to improve competitiveness through improving the quality of products and services, which requires more capital and investment in technology and infrastructure.

The integration process provides a great opportunity for domestic and foreign investors to operate in this potential market.

The Vice Chairman of the State Securities Commission of Vietnam (SSC), Nguyen Thanh Long, said the event brought together a number of experts, policy-makers and businesses who gave valuable recommendations to help Vietnam seize the opportunities deriving from the upcoming regional integration.

He also stressed the need to increase awareness of the AEC among the ASEAN member states, particularly entrepreneurs who need to acknowledge not only the opportunities but also their roles and responsibility in the integration process.

VNA