Prime Minister Nguyen Xuan Phuc, ASEAN Chair 2020, at the event (Photo: VNA)
Hanoi (VNA) – As ASEAN Chair 2020, Vietnamese Prime Minister Nguyen Xuan Phucattended and delivered a speech at the Standard Chartered-ASEAN Business Forum 2020 themed“Unlocking the region’s potential”, which was televised on international medialchannels.
The event, which is being held from August 25-28, drew theattendance of leaders of businesses and organisations from Asia, theMiddle East, Europe and the US to discuss emerging trends that could shapethe future of the region.
In his speech at the first session entitled “Tapping growth opportunitiesduring and after COVID-19”, PM Phuc said in the face of challenges caused byCOVID-19, the ASEAN Community has shown its strong will and spirit ofresilience, actively cooperated with partners via the implementation ofresolutions adopted at the meetings of economic ministers with the US, Australia andthe European Union and joint statements of ASEAN and ASEAN 3 summits withChina, Japan, the Republic of Korea held in Hanoi in April.
Boasting a gross domestic product of nearly 3 trillion USD and apopulation of over 630 million with growing incomes, ASEAN is a big market forambitious businesses worldwide, he said, adding that Vietnam joined the bloc 25years ago and signed 13 free trade agreements, including the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP) and the EuropeanUnion – Vietnam Free Trade Agreement (EVFTA).
PM Phuc stressed that Vietnam always welcomes foreign firmsand investors. With an improving favourable business environment, Vietnam has sofar attracted over 32,000 foreign-invested projects with a total capital of morethan 380 billion USD from 140 countries and partners, he said.
Towards the ASEAN Vision 2025 and 2030, the PMshared ASEAN’s strong economic cooperation policies. Firstly, ASEAN member states willcontinue staying united, promoting the bloc’s central role in regional economiccollaboration, prioritising coordination with partner nations and foreignenterprises.
ASEAN attaches importance to law abidance andbuilding of stable and sustainable cooperation frameworks, especially for thedevelopment of a digital economy. ASEAN is competitive enough to attract shift ofsupply chains in the region.
According to the PM, ASEAN is striving to invest in hard andsoft infrastructure, with a focus on human resources quality improvement. It isworking to narrow the development gap and expand coordination in the Greater MekongSub-region which holds potential to lure investment flows.
The PM affirmed that ASEAN treasures the partnerships betweenbusinesses and governments. Recommendations raised at the forum will be collected andconsidered thoroughly, he added.
Following PM Phuc's speech, a discussionattracted the participation of Tharman Shanmugaratnam, Senior Minister and Coordinating Minister forSocial Policies and Chairman of the Monetary Authority of Singapore; Indonesian Coordinating Minister for Maritime Affairs and Investment Luhut BinsarPandjaitan; and CEO of Standard Chartered Bill Winters.
The event features four sessions,in which speakers from the State and private sector will talk about thegrouping’s trade opportunities amid geo-political challenges, strategies tomaintain growth and the best practices for sustainable development.
Standard Chartered Regional CEO for ASEAN and South AsiaJudy Hsu said it is time for parties concerned to seek new opportunities in theregion which boasts young and dynamic workforce, growing middle-income classand vibrant digital economy./.
