(VOVworld) - Despite being estimated to be the fourth largest economies in the world in 2030, countries in the ASEAN needs to quickly narrow development gaps to enhance competitiveness globally.

Asia Competitiveness Institute - World Bank ASEAN Economic Forum (Source: VNA)

According to the survey on ASEAN countries’ competitiveness by the Asia Competitiveness Institute in the the Lee Kuan Yew School of Public Policy, Singapore tops the list, followed by Malaysia, Thailand, Brunei, Indonesia and Philippines. Vietnam ranked 7^th on the list, before Laos, Cambodia and Myanmar. Dr. Nguyen Dinh Cung, Director of the Central Institute for Economic Management, reckons the imperative tasks for ASEAN countries at the moment is to narrow development gaps, and developing countries like Vietnam need stronger innovations to promote development. Professor Tan Khee Giap from the Asia Competitiveness Institute said Vietnam has strong potentials for developing in the next 2-3 years. Accordingly, despite being in the 4 less developed countries of ASEAN, Vietnam has more advantages than Laos, Cambodia and Myanmar because of its diversity in foreign direct investment.