The 10-member Association of Southeast Asian Nations is due to launch a free-trade economic community, the AEC, this year, modelled on the European Union. It is unlikely the AEC will be able to achieve anything more than a stumbling start for this community of over 600 million people. Talking to entrepreneurs here, however, there are common concerns. One is that the Hanoi government is not telling the public enough about the opportunities and implications of the AEC. Another is that Vietnamese businesses fear they are not prepared to take advantage of the AEC, and will be end-run by competitors in Malaysia, Thailand and Singapore.
