In this period of increasing regionalization and globalization, Vietnam's Membership in ASEAN helps its economy and hastens its integration into the world economy.
International competition promotes greater efficiency in the allocation of resources. Hence as Vietnam's economy is subjected to competition from the other ASEAN countries, resources are pulled towards those activities that generate greater income and welfare of its people.
The accession to the CEPT Agreement and Vietnam's participation in many other areas of ASEAN economic cooperation such as intellectual property, services, industrial cooperation and investment also sends a strong signal to foreign investors of the direction of her economic policies. They strengthen the