VN firms should focus more on ASEAN market

The AEC framework facilitates trade and investment ties not only from Indonesia to Việt Nam, but also from Việt Nam to Indonesia. — Photo VNA

Vietnamese businesses should focus more on ASEAN markets to make use of the advantages created by the establishment of the ASEAN Community, Vietnamese Ambassador to Thailand Nguyễn Tất Thành said.

Speaking to Vietnam News Agency reporters on the sidelines of the 29th Diplomatic Conference now underway in Hà Nội, the ambassador said Vietnamese businesses had not paid proper attention to ASEAN markets in general and the Thai market in particular.

On the contrary, Thai firms, from large to small- and medium-sized enterprises, are very interested in the ASEAN markets, especially Việt Nam.

He said while several Vietnamese localities had established twinning arrangements or affiliations with their Thai counterparts, their relationships have focused on co-operation or investment while neglecting trading of goods.

Several trade promotion events that the embassy helped to organise recently in Thailand have proved that there are many ways for Vietnamese goods to enter this market, which is a major one with 70 million people.

Ambassador to Indonesia Hoàng Anh Tuấn said following the conclusion of the Trans Pacific Partnership (TPP) negotiations, Indonesian investors were very interested in the Vietnamese market, as through Việt Nam they could enter other markets of the TPP agreement.

At the same time, the AEC framework facilitated trade and investment ties not only from Indonesia to Việt Nam, but also from Việt Nam to Indonesia, the ambassador said.

According to head of the Vietnamese delegation to ASEAN Ambassador Nguyễn Hoành Năm, the formation of the ASEAN Community has brought about a new change for the ASEAN member countries.

In order to make full use of the advantages created by the community, member countries should create better linkages in production and services, he said.

The ambassador said the member countries must improve their investment environment to make ASEAN more attractive to outside investors.

Ambassador to Malaysia Phạm Cao Phong said the ASEAN Economic Community (AEC) held great potential, but it was formed at a time when the region’s economy was suffering from many negative impacts and faced numerous challenges. Therefore, the ASEAN countries should work together for development.

Việt Nam and Malaysia should enhance economic ties on the basis of supplementing each other, in order to bring into play each country’s comparative advantages, he said.