- The ASEAN Economic Community (AEC) is scheduled to be fully implemented by the end of this year.
- Singapore would serve as the regional financial centre for companies to rise funds and lower-cost countries like Vietnam can serve as a production centre. This will benefit our banking and shipping sectors as the supply chain shifts to ASEAN.
- As skilled professionals move to Singapore for work and leisure, the local hospitality sector will benefit likewise.
- The AEC is more practical and less ideological than the EU. It is more likely to succeed without a common currency and free movement of labour.
- The AEC would set Singapore up economically over the next decade as regional integration deepens.
The
ASEAN Economic Community is the result of decade-long talks and negotiations between the 10 ASEAN nations of Singapore, Malaysia, Indonesia, Thailand, Myanmar, Philippines, Laos, Vietnam, Brunei and Cambodia. It started with an ......
