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Speed up integration, Asean companies told

The Association of Southeast Asian Nations is calling for increased involvement and investments from the private sector to facilitate the transition from a multistate economy to a single economic bloc by 2015 under the Asean Economic Integration scheme. “With Asean’s immense growth potentials, a company preparing for 2015 should consider increasing its investments. It should no longer limit its sights on the investment opportunities in its own home country but also explore the possibilities in the other member states,” Asean secretary-general Le Loung Minh said in a speech before a conference hosted by the Management Association of the Philippines. The one-day conference held at the Shangri-La Hotel in Makati City delved on the dynamics of doing business beyond borders with focus on approaching the economic integration of 10 Asean countries by 2015 into a single economic bloc. Minh said the private sector should carry out in-depth market analysis of the region to identify potential markets and challenges, given the diversity in language, culture and development gaps among member states.
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