PM attends 2024 ASEAN BIS, highlighting role of businesses in bloc's growth

ASEAN Business and Investment Summit (ASEAN BIS) is the largest annual business-related forum in Southeast Asia, organised by the ASEAN Business Advisory Council within the framework of the ASEAN Summit.

Prime Minister Phạm Minh Chính on Tuesday attended the 2024 ASEAN Business and Investment Summit (ASEAN BIS) as part of his visit to Laos for the 44th and 45th Summit, highlighting the contribution of businesses and entrepreneurs for ASEAN’s resilience and growth.

In his address to the meeting, the PM called on businesses to take the lead in five areas, the first being addressing emerging and global issues for a resilient ASEAN, notably through digital transformation, green transformation, net-zero emissions and promoting emerging sectors such as artificial intelligence, cloud computing, and the Internet of Things (IoT).

They are also requested to pioneer in economic connectivity, including building mechanisms, sharing experiences, infrastructure and energy, with people and businesses as both subjects and driving forces of development.

Businesses should also lead the development of science, technology and innovation, especially in addressing climate change, population ageing and natural disasters, he said, adding that they should revitalise traditional growth drivers and foster new ones, while mitigating negative impacts of technological development, particularly cybersecurity.

The PM recommends that entrepreneurs pioneer in developing strategic infrastructure in each and between countries, specifically in policymaking, governance improvement, and mobilising resources for development.

Last but not least, they should be at the forefront of integration and global engagement, said PM Chính while he underscored multilateralism and international solidarity.

PM Chính highlighted that, along with fulfilling its commitments within the framework of the ASEAN Economic Community and partners, Việt Nam had been implementing three strategic breakthroughs, which are perfecting policies, developing strategic infrastructure systems, and training high-quality human resources.

Việt Nam’s industries of focus include artificial intelligence (AI), information technology, semiconductor chip production and comprehensive digital transformation.

The Vietnamese leader reiterated the country’s goal of building a government of integrity, innovation, action and service, while also strengthening decentralisation and resource allocation, implementation capacity, administrative reforms and supervision, as well as countering corruption to reduce burdens and costs for people and businesses.

Expressing gratitude towards foreign businesses and investors, especially ASEAN companies and entrepreneurs who have invested and operated in Việt Nam, PM Chính reaffirmed that Việt Nam would continue to provide the most favourable conditions for them to fulfil their potential, creativity and leverage Việt Nam’s distinctive advantages, outstanding opportunities and competitive edges.

ASEAN BIS is the largest annual business-related forum in Southeast Asia, organised by the ASEAN Business Advisory Council within the framework of the ASEAN Summit.

The event discussed major global issues and strategic solutions to overcome the challenges faced by businesses in the region, focusing on six priority areas of digital transformation, sustainable development, health resilience, food security, trade and investment facilitation, connectivity and supply chains.