The paper examines Vietnam’sparticipation in the AEC from the perspective of investment liberalization through analysis of Vietnam’s commitments and her implementation of commitments under the ASEAN Comprehensive Investment Agreement, the current situation of foreign direct investment (FDI) in ASEAN andVietnam; and opportunities and challenges for Vietnam from AEC’s liberalization of investment | VNU Journal of Science: Economics and Business, Vol. 30, No. 5E (2014) 27-39 Investment Liberalization in the ASEAN Economic Community Vietnam’s Participation, Opportunities and Challenges Nguyễn Thị Minh Phương*ác VNU, University of Economics and Business, 144 Xuân Thủy Str., Cầu Giấy Dist., Hanoi, Vietnam Received 8 December 2014 Revised 15 December 2014; Accepted 25 December 2014 Abstract: Investment liberalization plays an important role in building a single market and production base in the ASEAN Economic Community (AEC). The paper examines Vietnam’s participation in the AEC from the perspective of investment liberalization through analysis of: (i) Vietnam’s commitments and her implementation of commitments under the ASEAN Comprehensive Investment Agreement (ACIA); (ii) the current situation of foreign direct investment (FDI) in ASEAN and Vietnam; and (iii) opportunities and challenges for Vietnam from AEC’s liberalization of investment. Keywords: AEC, ACIA, FDI, Vietnam. 1. Introduction * Currently, investment activities in the ASEAN region are regulated by the ASEAN Comprehensive Investment Agreement (ACIA), which entered into force on 29 March 2012. ACIA is the successor and adjustment of the ASEAN Investment Guarantee Agreement (AIGA) in 1987, and the Framework Agreement on the ASEAN Investment Area (AIA Framework Agreement) in 1998, to accommodate the new context of regional integration under the ASEAN Vision 2020. In 2003, the ASEAN leaders adopted ASEAN Vision 2020 with three pillars, namely the ASEAN Economic Community (AEC), the ASEAN Political - Security Community (APSC), and the ASEAN Socio - Cultural Community (ASCC). At the 13th ASEAN Summit on 20 November 2007 in Singapore, ASEAN leaders reaffirmed this commitment and decided to accelerate the establishment of the AEC in 2015. A coherent master plan on ASEAN Economic Community (AEC Blueprint) was also adopted, in which investment liberalization has been identified as one of the important .
