Prime Minister Chính Attends 2024 ASEAN Business and Investment Summit
Hanoi, The Gulf Observer: Prime Minister Phạm Minh Chính attended the 2024 ASEAN Business and Investment Summit (ASEAN BIS) on Tuesday, as part of his visit to Laos for the 44th and 45th ASEAN Summits. In his address, the Prime Minister underscored the crucial role of businesses and entrepreneurs in fostering resilience and growth within the ASEAN region.
PM Chính urged businesses to take the lead in five key areas. First, he emphasized the importance of addressing emerging global issues to ensure a resilient ASEAN, particularly through digital transformation, green initiatives, achieving net-zero emissions, and promoting emerging sectors such as artificial intelligence, cloud computing, and the Internet of Things (IoT).
He also called for pioneering efforts in economic connectivity, including the establishment of mechanisms, sharing of experiences, and development of infrastructure and energy, with people and businesses serving as both subjects and driving forces of development.
Moreover, the Prime Minister stressed the need for businesses to lead advancements in science, technology, and innovation, particularly in response to climate change, population aging, and natural disasters. He highlighted the necessity of revitalizing traditional growth drivers while fostering new ones, alongside mitigating the negative impacts of technological development, especially concerning cybersecurity.
PM Chính proposed that entrepreneurs spearhead the development of strategic infrastructure across and between nations, focusing on policymaking, governance improvement, and resource mobilization for development.
Lastly, he urged businesses to be at the forefront of integration and global engagement, emphasizing the importance of multilateralism and international solidarity.
The Prime Minister pointed out that while fulfilling commitments within the ASEAN Economic Community framework and with partners, Vietnam has been implementing three strategic breakthroughs: perfecting policies, developing strategic infrastructure systems, and training high-quality human resources. Key industries of focus for Vietnam include artificial intelligence (AI), information technology, semiconductor chip production, and comprehensive digital transformation.
In his address, PM Chính reiterated the government’s commitment to building a transparent, innovative, action-oriented, and service-focused administration. He emphasized the importance of strengthening decentralization, resource allocation, implementation capacity, administrative reforms, supervision, and anti-corruption measures to alleviate burdens and costs for citizens and businesses.
Expressing gratitude towards foreign businesses and investors, particularly ASEAN companies and entrepreneurs operating in Vietnam, the Prime Minister reaffirmed that Vietnam would continue to provide favorable conditions for them to realize their potential, creativity, and capitalize on the country’s distinctive advantages and opportunities.
ASEAN BIS, organized by the ASEAN Business Advisory Council, is the largest annual business forum in Southeast Asia. The summit addressed major global issues and explored strategic solutions to challenges faced by businesses in the region, focusing on six priority areas: digital transformation, sustainable development, health resilience, food security, trade and investment facilitation, and connectivity and supply chains.
