ASEAN business community, united, self-reliant and sustainable, seizing opportunities in the digital age

Dialogue with businesses from ASEAN countries and partners with the theme "A cohesive, resilient and sustainable ASEAN business community: Seizing opportunities in the digital age".

On the afternoon of April 23, within the framework of the ASEAN Future Forum 2024, Prime Minister Pham Minh Chinh and Lao Prime Minister Sonexay Siphandone co-chaired a discussion with businesses from ASEAN countries and partners with the theme "A cohesive, resilient and sustainable ASEAN business community: Seizing opportunities in the digital age".

Attending the Dialogue were ASEAN Secretary General Kao Kim Hourn, Foreign Minister Bui Thanh Son, Lao Minister of Industry and Trade, Brunei Foreign Minister, representatives of ASEAN associations, businesses, investors and partners.

Opening the discussion, Lao Prime Minister Sonexay Siphandone said that digital transformation is taking place strongly not only in the region but also around the world; taking place in all aspects of social life. Therefore, there needs to be closer cooperation between entities, including coordination between businesses, the private sector with governments of countries and between countries. Thereby, maximizing the benefits, while minimizing and overcoming the challenges brought about by digital technology.

Lao Prime Minister Sonexay Siphandone speaks at the seminar.

Prime Minister Sonexay Siphandone said that as the ASEAN Chair in 2024, Laos is promoting the development of e-Government, digital economy and digital society. Laos is also promoting the development of policy frameworks, promoting digital transformation in ASEAN, thereby promoting digital economic cooperation in ASEAN, maximizing the benefits of digital technology, turning ASEAN into a highly competitive entity, effectively responding to challenges.

At the seminar, leaders of ASEAN businesses, ASEAN leaders and partner countries discussed enthusiastically about opportunities and challenges in ASEAN's digital economic cooperation; solutions to promote cooperation between ASEAN and partners in digital economic development; recommendations for the formation of an ASEAN digital economic ecosystem; requirements for e-commerce development in ASEAN today; and promoting the development of semiconductor supply chains in the ASEAN region.

Along with that, delegates also discussed the application of artificial intelligence (AI) in corporate governance and proposed cooperation with ASEAN countries; digital transformation in the information sector; cooperation in building high-quality digital human resources; improving the investment environment to attract high-tech investment...

ASEAN's digital economy revenue in 2023 is estimated to reach 100 billion USD, an 8-fold increase compared to 2016; it is forecast to reach over 1 trillion USD by 2030. The ASEAN Digital Economy Framework Agreement (DEFA) will be completed by the end of 2025, likely to be the world's first regional digital economy agreement.

Google Asia-Pacific President Scott Beaumont said that ASEAN is a rapidly developing region, a vivid demonstration of integration and connectivity. Google is honored to contribute to the digital transformation process, narrowing the digital gap in ASEAN. Along with developing platforms and applications in the digital environment, in Vietnam, Google is cooperating to train technology human resources, especially human resources in the field of AI, providing resources, building big data sources, etc.

Google representative said that ASEAN's digital economic potential can double today. To do so, ASEAN needs to invest in infrastructure, train human resources, invest in research and development, build data centers, especially national data. Along with that, ASEAN countries need to ensure a strong enough legal environment, ensuring that investors achieve their goals...

Mr. Dinh Viet Phuong, General Director of Vietjet Air, said that with the strong development trend of AI application, Vietjet Air has deployed many solutions on the AI platform to help change the operations of the aviation industry. Currently, Vietjet has invested in the Galaxy Innovation Hub Technology Center, implemented aviation science research projects at the Vietjet Aviation Technology Academy, participated in many innovation research projects with international partners such as Airbus, Boeing, Google, Amazon, etc.; thereby, contributing to making Vietnam an international technology and innovation center, not only a destination for the entire ASEAN region but also connecting ASEAN with the world.

Mr. Dinh Viet Phuong proposed to strengthen multilateral cooperation and create an environment for sharing resources and technology between governments and businesses; develop technology incubators, research and development, especially in AI... to build a pioneering ASEAN region in technology.

Along with that, there are solutions to ensure network security and data protection in the ASEAN business community. Vietjet Air hopes that the governments of the countries will expand opportunities for businesses to invest in production and business in the open and sustainable ASEAN common market.

Mr. Takeo Nakajima, Chief Representative of the Japan Trade and Investment Promotion Organization in Hanoi, reviewed the cooperation and investment process in Vietnam and ASEAN; said that to attract investment in the high-tech sector, countries need to continue to improve the policy framework; build and complete synchronous infrastructure, especially high-quality digital infrastructure, resistant to natural disasters and with high data transmission speed; build laboratories, testing areas, information centers; have policies to support the purchase of high-tech machinery; need cooperation between academia, research and businesses; protect copyrights of products; invest in developing businesses large enough to receive large investment projects from outside...

Mr. Brian D. McFeeters, Senior Vice President and Managing Director of Southeast Asia of the US-ASEAN Business Council (USABC), reaffirmed the commitment of US corporations and businesses to cooperate with Vietnam in various fields, including digital transformation. US businesses are always ready to promote cooperation based on the needs of Vietnam and will certainly promote cooperation in human resource training in these fields.

Speaking at the seminar, Prime Minister Pham Minh Chinh highly appreciated many opinions expressed with deep understanding, enthusiasm, constructiveness, and closeness to reality, clearly showing interest and desire to promote ASEAN's digital economic future.

Prime Minister Pham Minh Chinh speaks at the seminar.

According to the Prime Minister, in today's world, along with green transformation, digital transformation has become an inevitable trend, a new growth driver for rapid and sustainable development, for the prosperous future of ASEAN, the region and the world.

With the ASEAN Digital Masterplan 2025, ASEAN has agreed on a comprehensive, strategic approach to promote comprehensive digital transformation - considering it a key driver for inclusive and sustainable economic development.

ASEAN's digital economic development is driven by five favorable factors: (i) Important geostrategic and geoeconomic location; (ii) Large consumer market, young population structure, growing middle class; (iii) Rapid economic recovery; (iv) Extensive economic cooperation and connectivity network; (v) ASEAN's rapidly developing digital economic ecosystem.

The Prime Minister said that Vietnam clearly identified that national digital transformation and digital economic development on the basis of science, technology and innovation is a strategic development orientation until 2030; with the consistent viewpoint in the National Strategy for Digital Economic and Digital Society Development: Taking people and businesses as the center, the subject, the goal, the driving force and the important resource of digital transformation. In recent times, Vietnam has achieved many important achievements in digital transformation such as: the digital economic growth rate reaching an average of 20%/year; completing the construction of the National Population Database; over 80% of people using Internet services...

The Prime Minister stated that Vietnam hopes that the ASEAN business community, investors and partners will strengthen cooperation, accompany and support the promotion of three priority areas in digital economic development, including: developing the information technology and communications industry; promoting digitalization of industries and fields associated with the application of science and technology, innovation; improving digital governance capacity, and developing digital data.

The Prime Minister emphasized: At this seminar, we have deep faith in the potential and strengths of ASEAN; the determination and consensus of the Government, business community and people; the close cooperation and connection of regional and international partners towards a digital ASEAN Community in the near future.

In that spirit, the Prime Minister proposed three breakthrough orientations to turn ASEAN into a model in digital transformation globally:

Firstly, promote equal access to digital transformation and digital economy based on the principle of "harmonized benefits and shared risks", ensuring transparency, safety, inclusiveness, and sustainability, so that all people, businesses, and communities can participate and enjoy the results.

Second, strongly promote ASEAN's self-reliance, self-reliance, and self-reliance in digital transformation. Based on the specific factors, potentials, and advantages of each country, promptly complete the ASEAN Framework Agreement on the Digital Economy, ensuring focus, key points, substance, and effectiveness.

Third, promote a global, all-people, and comprehensive approach to ASEAN’s digital economic development. Implement the roadmap and take synchronous steps that are appropriate to the capacity of each country; at the same time, focus on solving common, global issues that affect the entire population such as pressure to shift labor structure, cybersecurity, cybercrime, the negative side of artificial intelligence (AI)…; leaving no one behind in the digitalization process.

On the basis of affirming that the development of a strong ASEAN digital economic ecosystem brings benefits to the world, the Prime Minister suggested that ASEAN partners continue to closely cooperate, support and accompany ASEAN in general and Vietnam in particular in the digital transformation process, especially in three areas.

Firstly, strengthen cooperation on digital transformation to contribute to renewing traditional growth drivers (investment, consumption, export); at the same time, strongly promote digitalization associated with the application of science and technology in industries and fields to create new growth drivers.

Second, promote cooperation, support financial resources, knowledge, technology transfer, human resource training, improve governance capacity, build digital institutions so that ASEAN and Vietnam can participate more deeply in frameworks, mechanisms, and supply chains on digital transformation in the region and the world.

Third, focus on developing common standards, criteria, and regulations on digital transformation on a global scale; strengthen cooperation to improve digital governance capacity, protect consumers, ensure information security, network security, and data security.

Delegates attending the discussion.

On this occasion, the Prime Minister called on businesses and investors to pioneer digital transformation, green transformation, circular economic development, application of science and technology, and promotion of innovation in the development process of ASEAN. The Prime Minister emphasized that digital transformation is not only about technology, but also a profound change that is global, all-people, and comprehensive.

"We firmly believe that the business community of ASEAN and partner countries will seize opportunities, overcome challenges, strive to unite, be self-reliant, self-reliant, and self-reliant, continue to affirm its pioneering role in digital transformation, and make important contributions to the rapid, sustainable, and inclusive development of each ASEAN member country, the region, and the world."

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