HCM CITY - A conference on competition organised by the ASEAN Economic
Co-operation Work Programme and Viet Nam's Competition Authority opens in HCM
City today.
"In the context of global economic
decline, M&A (mergers and acquisitions) is one of the most effective tool
for enterprises to restructure and increase their efficiency," Bach Van
Mung, head of the Competition Authority told a press meeting held to introduce
the conference.
"The conference will discuss
whether M&A should be controlled to avoid monopoly and cause bad
impacts," he added.
The conference, the second of its
kind, is titled "Mergers and Acquisitions impacts on ASEAN".
In the first half of this year,
M&A by ASEAN-based companies were worth a record US$26.2 billion, higher
than in the whole of last year ($23.2 billion).
The two-day event will discuss
the legal framework on M&A in ASEAN member nations, impacts of mergers on
the regional economy, and international experience in managing and supervising
M&A, especially trans-border ones.
Officials from
competition-management agencies in the ASEAN member countries, Australia,
Japan, New Zealand, South Korea and the US, and local businesses will
participate.
The first conference was held in
Bali last year.
Five of the member states,
including Viet Nam, have full-fledged competition laws in place, and all 10 are
expected to have them by 2015.
VNS
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