Greater Mekong Subregion to become developed and prosperous

(VOV) - A forum on the Greater Mekong Subregion (GMS) development was held in Hanoi on October 17, providing a good chance for businesses to seek opportunities to promote economic development in Cambodia, Laos, Myanmar, Thailand, Vietnam and Yunnan and Guangxi provinces (China).

Phuong Huu Viet, Chairman of the Vietnam-Laos-Cambodia Association for Economic Cooperation Development said the forum brings about practical benefit for Vietnamese businesses, especially investors in ASEAN, and help them share information and propose ideas for integrating into the ASEAN Economic Community (AEC).

Viet hoped that businesses will access useful information to prepare for integration in AEC 2015.

Participants at the forum discussed the State management agencies’ role in guiding and supporting business in finding solutions to obstacles.

greater mekong subregion to become developed and prosperous hinh 0

Vu Van Chung, Deputy Head of the Foreign Investment Agency (FIA) said in the economic integration many Vietnamese enterprises will face challenges on their home turf and find it difficult to penetrate other ASEAN markets, and even some will stop their operation.

Chung added that Vietnam has enhanced bilateral and multilateral cooperation, continued to complete its legal system and accelerated economic and administrative reforms in order to make the integration process effective.

Meanwhile, Deputy Minister of Planning and Investment Nguyen Van Trung said AEC 2015 will open both opportunities and challenges for Vietnam, however, with the Government’s determination and businesses and people’s efforts, we are sure to make the economic integration a success.

According to the FIA, ASEAN businesses have invested in 55 out of 63 provinces and cities in Vietnam with 2,431 projects worth US$51.8 billion, accounting for 14.2% of FDI projects and 21.4% of FDI fund in Vietnam.