(VOVworld) - Following the establishment of the ASEAN Economic Community (AEC) more than one year ago, Vietnam gained the advantage from the community in terms of peace, stability and the formation of a joint economic, trade and production facility. This will be a driving force for Vietnam’s renovation, adaptation and further integration with the economic community. The ASEAN Economic Community was founded by the end of December, 2015, opening up an opportunity to market access with some 625 million people and nearly 3 trillion dollars of combined GDP. The AEC has shown its active cooperation between the ASEAN and its partners. As a result, Vietnam has promoted its participation in the regional and global supply chain for economic restructuring, industrialization and modernization. The AEC aimed to develop a unified market and production facility, a competitive economic zone, an equally developed region in global economic integration. ASEAN member countries have focused … [Read more...] about Boosting cooperation for ASEAN Economic Community development
Economic community development
ASEAN boosts building the economic community
ASEAN economic ministers and Secretary-General Surin Pitsuwan pose for a photo at the 18th informal meeting. (Photo: MNA) (VOVworld) - 18th ASEAN economic ministers' informal meeting has opened in Nay Pyi Taw, Myanmar, to discuss issues related to the process of building the ASEAN economic community. The meeting, chaired by Cambodian Commerce Minister Cham Prasidh, was attended by delegates from ASEAN countries, ASEAN Secretary General Surin Pitsuwan, representatives from ASEAN embassies in Myanmar, and ASEAN Secretariat officials. Participants today/ on Monday discussed challenges and weaknesses in building an ASEAN economic community by 2015 and exchanged views on tasks to be completed this year. They also discussed issues relating to cooperation among ASEAN countries to develop an ASEAN economic community and promote trade services, investment and private sectors, as well as cooperation between ASEAN and its dialogue partners. … [Read more...] about ASEAN boosts building the economic community
The ASEAN Economic Community Really Counts
The ASEAN Economic Community Really Counts By P. D. Nguyen With the ASEAN Economic Community (AEC) expected to spring to life in 2015, foreign investment in this region has picked up since last year At the end of 2011, the total gross domestic product (GDP) of the 10 member countries of the Association of Southeast Asian Nations (ASEAN), with about 620 million consumers, reached some US$1.8 trillion, up 170% from that of 10 years ago and accounting for approximately 6% of global trade. While those living in ASEAN countries are mainly poor, the middle class is on the rise and development opportunities abound. The Asian Development Bank forecasts that ASEAN’s GDP per capita in 2030 will be US$9,012 (China’s, Japan’s and Korea’s are US$12,361, US$40,415 and US$41,674 respectively). Foreign direct investment (FDI) in this region has posted encouraging results and amounted to US$79.9 billion in 2011, below the figure for China (US$124 billion) but far higher than … [Read more...] about The ASEAN Economic Community Really Counts
ASEAN economic community to come true by 2015
The ASEAN economic community will come true by 2015 as planned, the top ASEAN official has said. On the sidelines of the 44th ASEAN Economic Ministers' Meeting (AEM-44) in the Cambodian city of Siem Reap on August 28, Secretary General of the Association of Southeast Asian Nations Surin Pitsuwan said preparations are on the right track with 70 percent of the work being completed. He added that it is necessary to further boost this process and overcome obstacles to fulfill ASEAN's common goals. The same day, Lao Minister of Industry and Commerce Nam Viyaketh said Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand have pledged to support new ASEAN members, including Cambodia, Laos, Myanmar and Vietnam. Earlier, at the AEM-44 opening ceremony, Cambodian Prime Minister Hun Sen said the development gap among ASEAN members remains huge. The bloc needs to double its efforts to further promote growth and improve equitable distribution of growth achievements at both … [Read more...] about ASEAN economic community to come true by 2015
Golden Cup “For the Cause of Community Development” presented
th “For the Cause of Community Development” Golden Cups were presented this morning in Hanoi to 96 groups and individuals, who greatly contributed to community development during the past year, in recognition of their compassion in daily life and social relationships. Truong Quang Duoc, former vice-chairman of the National Assembly, Vu Hoang Ha, Binh Dinh Provincial Party Committee Secretary, Dumitri Olaru, Romanian Ambassador to Vietnam, Thich Thanh Tu and Thich Giac Toan, Reverend Buddhist monks, the People’s Artist Tra Giang, and Ho Hoa Hue, a martial arts instructor, were among 96 groups and individuals presented with the cups. In total, the Golden Cup winners helped build more than 3,000 houses of gratitude and take care of nearly 100 Heroic Mothers. In addition, they also help contribute VND 6 trillion to the state’s budget. On this occasion, the first “Talented CEO” Golden Cups were also presented to 82 outstanding individuals. The awards … [Read more...] about Golden Cup “For the Cause of Community Development” presented