Luoc and many other Vietnamese scholars said that ASEAN countries should focus on specific priority areas to speed up the narrowing of their development levels. "They should strengthen economic integration by handling domestic regulations and harmonizing regional rules and standards, and intensifying transparency in the region," the experts said.
According to the scholars, ASEAN should accelerate the application of information technology in boosting intra-block trade and investment as well as providing an electronic platform for private sector to facilitate regional business.
"If the private sector would be given a major role in regional economic integration, the development gaps will be narrowed more considerably and quickly," the experts said.
They said that ASEAN should strengthen sub-regional growth triangles and facilitate cross-border trade and investment.
The block should also step up liberalization of services, including financial ones, and capital market integration to offer necessary financial infrastructure for enterprises, especially small- and medium-sized and micro ones, they pointed.
The Southeast Asian countries have envisioned an ASEAN community on three pillars -- the economic community, the security community and the cultural and social community, which will help them to better deal with economic development, environmental protection, disease prevention issues, and enable them to have bigger and more persuasive voice in international forums, an official from Vietnam's Institute for Southeast Asian Studies, who declined to be named, told Xinhua.
To benefit from the AEC, ASEAN members are finalizing their necessary preparations, especially in the fields of human resources enhancement, infrastructure development, goods flow facilitation, connection reinforcement, development gap narrowing and legal corridor perfection.
At a recent talk held by the Vietnamese Ministry of Foreign Affairs in coordination with the United Nations Development Program, ambassadors of ASEAN countries to Vietnam and other diplomats presented their countries' preparations.
Laos has focused on measures on mitigating challenges and narrowing development gaps, while Singapore has highlighted the role of research centers and business communities. Cambodia has centered on improving the role of private sector, while the Philippines and Myanmar have paid greater attention to assisting small and medium sized enterprises.
Thailand has stepped up reforming services, trade and investment, effectively implementing the regional initiative of "ASEAN Single Window" and its national single window system, as well as developing its social security networks.
According to the Vietnamese Ministry of Industry and Trade, Vietnam has fulfilled most of commitments to the ASEAN economic community, ranking second among the ASEAN members, after Singapore. Vietnam has also improved its electronic customs procedures, simplified licensing systems, amended relevant laws and regulations on investment, trade and enterprises, and put forth new policies on realizing its commitments in specific fields including distribution service, banking, insurance, securities and telecommunications.
