Oct 26, 2021 / 15:23

Business matters a lot to ASEAN recovery plans: Vietnam

Vietnam said businesses play an important role in the regional recovery framework.

Vietnam believes that businesses are the important factor in the recovery plans of the Association of Southeast Asian Nations (ASEAN) as a whole. 

Vietnamese Deputy Prime Minister Pham Binh Minh. Photo: Baoquocte 

ASEAN needs the vitality, initiative, and creativity of the business community to adapt to the Covid-19 pandemic and pursue economic recovery, Vietnamese Deputy Prime Minister Pham Binh Minh said at the ASEAN Business & Investment Summit (ASEAN BIS) held on Oct 25.

It is very important that governments, businesses, and stakeholders focus on implementing the ASEAN Comprehensive Recovery Framework (ACRF) that was passed by the regional leaders at the 37th ASEAN Summit (held in mid-November 2020), Minh said.

In addition, the 10 member states need to continue other initiatives that the bloc approved with three orientations: recovery, digitalization, and sustainability, the Deputy PM said at the event themed “Building Our Sustainable Digital Future.”

For that reason, Minh stressed the importance of the Consolidated Strategy on the Fourth Industrial Revolution for ASEAN and the acceleration of the Strategic and Holistic Initiative to Link ASEAN Responses to Emergencies and Disasters (ASEAN Shield) proposed by Brunei, Chair of the 2021 ASEAN.

ASEAN Shield is a strategic, holistic, cross-sectoral, and coordinated approach across the ASEAN Community, to ensure ASEAN’s collective, rapid, effective, and timely response in mitigating the impacts of different types of emergencies and disasters affecting the region.

It stressed the importance of ASEAN’s timely, prompt and expeditious response to emergencies and disasters, as well as the need for timely assessment and early-warning measures to enhance ASEAN’s preparedness and response to challenges in a strategic, coordinated, and holistic manner.  

Minh said Vietnam gets ready to enhance digital infrastructure connectivity, ensuring a digital ecosystem for all parties towards sustainable digital development in the region, and accompanying businesses of ASEAN and partner countries towards the new normal and for the sake of the community.

The Government of Vietnam would help enterprises conduct digital transformation and promote investment in high technology towards green growth, he added.

The ASEAN Business and Investment Summit (ASEAN BIS) is Southeast Asia’s premier forum held annually by the ASEAN Business Advisory Council (ASEAN BAC) in conjunction with the bloc’s summits.

ASEAN BIS brings together the Heads of State and governments as well as business and thought leaders of ASEAN and its global partners. It is a unique platform to hear how the key issues facing the region are being addressed and to discuss how to ensure the opportunities in ASEAN’s vibrant economies are developed sustainably and inclusively.