Corporate management in Vietnam, Laos and Cambodia after accession to AFTA and WTO

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In this study, the characteristics of corporate management in CLV (Vietnam, Laos, Cambodia) and its changes at a time of economic integration after accession to AFTA and WTO were examined from 2005 to 2009.The significance of this study was in the simultaneous investigation of the three countries at the corporate level. As a result, this study revealed that China's “go-south" policy was prominent in all three countries and that the opening of the stock exchange is playing an important role as the detonator of economic development in that region.Vietnam joined WTO in January 2007 and changed from a developing country with abundant low cost labor to a newly industrializing nation, striving to increase productivity and improve quality. The infrastructure in Laos, especially land transportation, has improved thanks to the East-West Economic Corridor and other developments, and numerous satellite factories with mother factories in Thailand are currently in operation. What's more, the export … More of mineral resources and tourism have increased, although raising concerns of the “Dutch disease." In Cambodia, exports of sewing companies have increased rapidly, but the industry has now become polarized and companies with lower productivity and quality are going out of business. Instead, it is hoped that the Phnom Penh Special Economic Zone can promote investment from a wide range of manufacturing companies.Furthermore, companies in Vietnam are actively investing in Laos and Cambodia, while at the same time, companies in China's Yunnan Province are also promoting investment in CLV. Although CLV was lagging behind among the Mekong River Delta countries, it is now becoming the center of growth in Asia. These circumstances are being accelerated by the establishment of an ASEAN Community in 2015. Japan has been the largest ODA (Official Development Assistance) donor country, and it signed an EPA (Economic Partner Agreement) with Vietnam in December 2008. The presence of Japan in Vietnam is expanding, and further development of economic relations between the two countries is expected. On the other hand, additional investment in Laos and Cambodia by Japan's private sector is desired, so that Japan can contribute to the continued economic development of CLV. This is expected to be triggered by the opening of the stock exchange planned for Cambodia in 2009 and Laos in 2010, which the Korean Stock Exchange is supporting. The volatile experience in the Vietnamese Stock Exchange is sure to become a valuable lesson to market management and stock investment in the two countries.Even at this time of a global recession, an economic growth of at least 5% is expected for CLV in 2009. The economic development and corporate activity of CLV should be continued to be watched in the future, as its success may determine the fate of the ASEAN Community as well as the whole of Asia. Less