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Most enterprises in the dark over AEC

Released at: 08:38, 18/06/2015

Most enterprises in the dark over AEC

A lack of information on the ASEAN Economic Community has made most local enterprises feel ambivalent over its establishment.

by Huong Loan- Quynh Nguyen

A survey of 681 enterprises in five cities and provinces - Hanoi, Ho Chi Minh City, Da Nang, Hai Phong, and Can Tho - has revealed that only 48 per cent know the exact time the ASEAN Economic Community (AEC) will be established, 80 per cent do not know about the AEC scorecard, and only 12.78 per cent know that Vietnam is a coordinator in the field of logistics.

According to Associate Professor and Dr. Nguyen Hong Son from the University of Economics and Business at the Vietnam National University, its survey results prove that many Vietnamese enterprises are largely ignorant about even the basic elements of the AEC.

Notably, Hanoi and Ho Chi Minh City had the highest proportion of enterprises that are not interested or not very interested in the AEC. Although Can Tho has a high rate of enterprises interested in the AEC, their level of understanding is low.

Overall the survey indicates that interest in and preparedness for AEC integration among Vietnam’s enterprises is woefully inadequate and reflects the passive attitude most have taken towards the new bloc.

This lack of knowledge, however, is not entirely the fault of enterprises, the survey also found. Information on AEC integration has been thin on the ground and ineffective when it has appeared and been disseminated.

Enterprises said that, to date, information on the AEC has been negligible compared with what was and is available on the WTO and the TPP. Although State authorities have provided information on AEC integration it has only been in general terms and has lacked specifics. Enterprises have therefore been disinterested in adjusting their business strategies in preparation for the AEC.

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