Vietnamese businesses still haven’t readied for AEC Vietnamese businesses are still vague about the ASEAN Economic Community (AEC) – of which  Businesses still vague about what AEC means AEC is expected to be a vast market with 600 million consumers and the GDP of $2.2 trillion. It is really worrying that though AEC would have big impacts on the society and national economy, the awareness of Vietnamese people and businesses about AEC remains limited. A report released recently by the ASEAN Network Forum in In The government of In Big challenges Sunhouse, a household goods manufacturer, planned to export its products to ASEAN market three years ago. However, to date, its products have been present only in three markets – According to Nguyen Xuan Phu, President of Sunhouse, Vietnamese goods still don’t have strong brands, which is a big disadvantage. Therefore, the thing that Vietnamese businesses need to do now is to prove that their products have competitive prices, high quality and good design. The sugar industry is believed to suffer heavily from the market opening. Sugar companies are now facing big difficulties not only in foreign, but in the home market as well. A report of the Vietnam Sugar and Sugar Cane Association showed that by the end of August 2013, the companies still had had 288,000 unsold tons of sugar. The sugar smuggling through the border gates has made it more difficult to clear the inventories. Nguyen Thanh Long, Chair of the Sugar and Sugar Cane Association, said though Thai imports bear the 5 percent tax rate, they are still VND2,000-3,000 per kilo lower than If the import tariff is cut to zero percent by 2015 as committed for AEC, Thai sugar would flood the Vietnamese market. By that time, Vietnamese sugar companies would face bigger challenges. The Asian Development Bank (ADB), in the report on the economic integration in |
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