Businesswomen: Leverage for ASEAN Economic Community Development

Addressing to the forum, Vietnamese Vice President Nguyen Thi Doan said that Vietnam officially entered under the common roof of ASEAN, offering many opportunities as well as challenges, and women entrepreneurs will be a vanguard force and important contributor in each country.

 

She emphasised that when it joined the ASEAN Economic Community, Vietnam will see both advantages and challenges. “Vietnam is currently seeing difficulty in filling the development gap with other countries in the region. But, with its effort and determinations in regional and international economic integration, Vietnam has made every effort to overcome hardships to carry out its commitments and take advantage of opportunities from integration. The evidence is that Vietnam has become one of first four ASEAN countries in the region to adopt the single-window mechanism and technically connect with the ASEAN single-window mechanism. This is an important tool to facilitate trade and investment in the region, which has been highly appreciated by other countries.”

Ms Nguyen Thi Tuyet Minh, Chairwoman of the Vietnam Women Entrepreneurs Council (VWEC) under VCCI and Chairwoman of the ASEAN Women Entrepreneur Network (AWEN), said, during the first two-year term, in spite of building the organisation and mobilising finance at the same time, AWEN has carried out a lot of more practical activities for ASEAN’s women entrepreneurs. To strengthen cooperation and connection between Vietnamese businesswomen with those inside and outside ASEAN, AWEN has hosted dozens of forums, seminars and exhibitions. All aim for greater contributions of women entrepreneurs to the ASEAN common community and to global value chains in the farther term.

 

“In recent years, with the joint effort of ASEAN and of each country, policies and programmes that support women to do business have been improved in quality and effect. However, women are still facing certain barriers to starting a business as well as operating a company as women in Eastern societies are not actually equal to men both in family and in society. This has given rise to particular hardships to women in business, right from the stage of setting up a business to pooling capital, operating business, expanding partnership, exchanging market intelligence and accessing assistance programmes," she added.

 

World Bank Country Director for Vietnam, Victoria Kwakwa, said, the formation of the ASEAN Economic Community is an opportunity for us to have a bigger market with over 600 million people, and TPP is also a huge opportunity for us to move toward socioeconomic development and bring people out of poverty.

 

"Although there are a plenty of opportunities, women entrepreneurs have to face numerous challenges like growing volatility and abnormality in Chinese economy, conflicts in the Middle East or refugee crisis in Europe. These issues will partially affect our areas," she said.

 

At the forum, Dr Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), said the ASEAN - United States Special Summit took place in February 2016. Right after the ASEAN Economic Community (AEC) was formed, it has quickly lifted up the international role and position of ASEAN. The meeting pointed out requirements for changing economic paradigm based on sectors with high scientific and technological contents to advance the spirit of innovation and creativity will be a priority of ASEAN countries. This is the time of change for AEC women entrepreneurs.

 

"Sophistication, kindness and spirit of innovation and creativity are natural advantages for women in doing business. So, you need to drive forward these advantages and demonstrate yourselves to become a leverage for the development of ASEAN Economic Community," he said.

 

Dr Loc said the World Economic Forum (WEF) 2016 saw the strong engagement of women, with a half of presidium and 27 per cent of speakers to forums being women. This is a good sign on the playground formerly known to be dedicated to men. These show clearer roles of businesswomen and the gender structural shift in the world economy.

 

He stressed that governments of ASEAN countries need to mind and introduce practical policies to provide a favourable environment and foster the development of women entrepreneurs. "The current top priority factor is developing information technology and digital economy in ASEAN countries, creating opportunities for female entrepreneurs to access and capture information quickly, helping them actively participate in global value chains to really integrate and link creativity to advance and sustain AEC development," VCCI President affirmed.

 

Mr Le Luong Minh, Secretary General of ASEAN, said that ASEAN is moving toward a greater sustainability of SMEs in which many are led and owned by women. ASEAN is directing support for women-led businesses, thus helping them bring their products to market, achieve sustainable and effective development, and have greater contributions to the region's economy.

 

Vietnamese Vice President Nguyen Thi Doan told businesses, including women entrepreneurs, to keep dynamic and creative business analysis and forecast, enhance competitiveness and product quality, and build brand name to achieve success and reach out to the region.