Vietnam has numerous opportunities for economic development due toits stable economy and ongoing reforms in key sectors, the CEO ofMaybank Kim Eng Group, John Chong, said at the Invest ASEAN 2015conference in Ho Chi Minh City on May 25.

Chongand other foreign investors participating in the conference wereoptimistic about Vietnam ’s economy, which is expected to grow bymore than 6 percent this year.

According to the CEO,the formation of the ASEAN Economic Community (AEC) at the end of thisyear would create a common market of ASEAN countries in which Vietnam’s position as the region’s manufacturing hub will be strengthened.

The country has a number of intrinsic strengths, including a youngworkforce and improved education quality, that make the countrycompetitive in the global supply chain, he said.

Entitled “Vietnam: The next global factory”, the conference focused onbriefing participants on investment opportunities in the ASEANcountries, including Vietnam.

Throughout the event,experts highlighted the fact that Vietnamese businesses need to improvecompetitiveness through improving the quality of products and services,which requires more capital and investment in technology andinfrastructure.

The integration process provides a great opportunity for domestic and foreign investors to operate in this potential market.

The Vice Chairman of the State Securities Commission of Vietnam (SSC),Nguyen Thanh Long, said the event brought together a number of experts,policy-makers and businesses who gave valuable recommendations to helpVietnam seize the opportunities deriving from the upcoming regionalintegration.

He also stressed the need to increaseawareness of the AEC among the ASEAN member states, particularlyentrepreneurs who need to acknowledge not only the opportunities butalso their roles and responsibility in the integration process.-VNA