Enhancing global intergration in Vietnam’s finance- banking sector- from Asean’s experience

Abstract

In a progress of economic renovation, Vietnam has persistently promoted economic intergration by involving in
multilateral, regional and bilateral commitments. Increasing global integration in terms of depth and width of the
economy can be the significant support for economic restructure and growth model innovation that enables the economy
to gain advantages in domestic level (with regard to better economic structure) and global level (in term of better market
accessment), thus, further encouraging export and attracting global investment. However, the challenges have remained
in many sectors of the economy where economic integration has taken part in, including finance-banking industry.
This paper investigated the obstacles in Vietnam’s finance-banking system which has impeded the progress of financial
integration. Then based on ASEAN nations’ experiences, it proposed recommendations to promote global integration in
finance- banking industry in a sustainable maner