ASEAN KEY DESTINATIONS
Vietnam clears way for foreign firms
Speaking at the Asean Business and Investment Summit here yesterday, Dung called the summit a precious opportunity to promote cooperation and share experiences among ASEAN member states. The summit was also an occasion for Asean and its partners to improve economic efficiency and investment within the Asean community as well as with partner countries, he said.
Since its inception and development over the last four decades, Asean had become a political and economic block, a successful and dynamic economic organisation in the region, said Dung, adding that Asean had become an indispensable partner of many countries and major international organisations.
The commitments and core cooperative programmes of the Asean Economic Community had gradually been translated into reality, he said. A common market is being created on the basis of harmony in trade regulations and the ability to coordinate policy between ASEAN members.
This process, together with the network of the Asean Free Trade Area+1 with China, Japan, South Korea, India, Australia and New Zealand, was expected to generate dynamism from manufacturers and producers and the free movement of goods, services, workers and capital within the regional economy. The formation of a network between Asean and East Asia enterprises and the promotion of labour distribution would strengthen the region's competitiveness in the world.
A master plan on Asean connectivity would be adopted at this summit to help promote business and investment opportunities in the region, he said, adding he was confident that enterprises would benefit from higher efficiencies of scale in production, helping reduce production costs and lower the prices of goods.
Large-scale production would create more jobs and narrow the gap between the rich and the poor, helping promote social stability, said Dung.
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