ASEAN Economic Community expected to boost Vietnam's GDP by 14.5 pct

The formation of ASEAN Economic Community (AEC) by 2015 is expected to boost Vietnam's Gross Domestic Production (GDP) by 14.5 percent and employment rate by 10.5 percent, according to a study by the International Labor Organization (ILO), the Asian Development Bank (ADB) and the Secretariats of the Association of Southeast Asian Nations (ASEAN).

The study results were revealed at a dialogue jointly organized by ILO, ADB and Vietnam's Ministry of Labor, Invalids and Social Affairs Thursday in Vietnam's capital Hanoi on the sidelines of the sixth Asia-Pacific Economic Cooperation (APEC) Human Resources Development Ministerial Meeting to be held on Saturday.

The study predicts an increasing demand for skilled labor in construction, transport, garment and textiles, as well as food processing industries, suggesting members of the workforce take the opportunity and refresh skills required in these sectors, reported Vietnam's state-run news agency VNA.

Participants to the dialogue proposed Vietnam to prioritize measures to increase labor productivity and the quality of the workforce in agriculture, diversify jobs in new manufacturing sectors, expand social welfare, and improve the education and training system.