Vietnam calls for global approach to crisis at ASEAN Business Investment Summit

VOV.VN - ASEAN should form a global approach and devise solutions to address global challenges, weather crisis and maintain the post-pandemic economic recovery, suggested Vietnamese Prime Minister Pham Minh Chinh while delivering a speech at the ASEAN Business and Investment Summit 2022 in Cambodia on November 10.

PM Chinh noted that the world is evolving and is facing numerous risks and complications, requiring all 10 ASEAN member states and their partner countries to work together to overcome these issues. He singled out the ASEAN Business and Investment Summit for its role as the biggest business forum in the region that has put forward and implemented several breakthrough solutions, thereby bringing about long-term benefits to businesses and people.

Amid global complications, PM Chinh suggested that the Governments, businesses, and ASEAN stakeholders effectively implement the ASEAN Comprehensive Recovery Framework adopted by regional leaders at the 37th ASEAN Summit, and other adopted initiatives focusing on recovery, digitalisation, and sustainability, while promoting the application of scientific and technological advances to accelerate green recovery.

Furthermore, he said the ASEAN business community should seek to fully grasp the opportunities brought about by the Regional Comprehensive Economic Partnership (RCEP), the largest regional free trade agreement that makes up 30% of global GDP and 30% of the world’s population, in an attempt to expand market linkages, develop production and value chains, and harmonise regulations on product traceability, customs procedures, quarantine, and technical standards.

The head of the Vietnamese Government also suggested that the bloc effectively implement the ASEAN Consolidated Strategy on Fourth Industrial Revolution and the ASEAN Agreement on E-commerce by strongly accelerating digital transformation and investing in digital infrastructure development to further facilitate regional connectivity and economic recovery.

According to the Vietnamese PM, the ASEAN Business Advisory Council (ABAC) should bring into full play its pioneering role in undertaking cooperation activities, promoting innovation and technology transfer, accelerating the transition to a circular economy model, saving resources, and protecting the environment.

Underlining the need to further strengthen public-private cooperation, PM Chinh suggested that businesses closely accompany governments in putting forward initiatives in order to promote a more resilient and sustainable regional economy.

He went on to affirm that Vietnam, an active and responsible member of ASEAN and the international community, is fully committed to creating the best possible business environment for a swift post-pandemic recovery and sustainable development.

Vietnam is willing to cooperate with other regional countries and partners as it strives to enhance digital infrastructure connectivity, towards creating a region of equal and sustainable digital development, while accompanying businesses throughout the region and its partners to make the most of business and investment opportunities, he said.

PM Chinh is currently in Phnom Penh to participate in ASEAN summits and related meetings, including ASEAN + 1, ASEAN + 3, East Asia Summit, and the US-ASEAN summit from November 11 to 13 at the invitation of Cambodian Prime Minister Hun Sen.

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