Some issues to Vietnam’s commercial banks upon Vietnam’s accession to ASEAN Economic Community

Abstract

On November 22, 2015, ASEAN leaders signed Kuala Lumpur Declaration on the establishment of ASEAN Economic Community (AEC), to which ten ASEAN member countries would form a market of approximately 630 people since January 1, 2016. Vietnam’s enterprises in general and commercial banks in particular are expected to face both opportunities and challenges when the banking sector will be fully open and all barriers, subsidies will be removed until 2020. The paper is to analyze the performance of Vietnam’s commercial banks in comparison with those of other AEC countries’ on economic and financial criteria, thereby proposing some suggestion so as to enhance the competitiveness of Vietnam’s commercial banks.