Wednesday, 22 Nov 2017

PM Phuc: ASEAN needs to create driving force from innovation

Updated at Friday, 12 May 2017, 14:45
The Hanoitimes - In order to maintain its dynamic development and competitiveness, ASEAN should not only depend on resources and young labour force, but also create a stronger driving force for growth from innovation.
Prime Minister Nguyen Xuan Phuc delivered a speech at the opening plenary
Prime Minister Nguyen Xuan Phuc delivered a speech at the opening plenary
Such is the affirmation by  Prime Minister Nguyen Xuan Phuc while addressing  the 26th World Economic Forum on ASEAN (WEF ASEAN) in Phnom Penh on May 11, emphasising that apart from renewing economic management and governance, ASEAN countries need to equip and provide people, especially young labourers, with necessary skills to master advanced technology, meeting requirements on new jobs.

In his speech at the opening plenary themed “ASEAN: 50 Years Young”, the PM highlighted achievements on development and regional integration ASEAN has obtained over the past 50 years, saying that the bloc’s dynamic development has offered opportunities to businesses. The PM proposed setting a working group to study and put forth policies on education and vocational training and startup promotion, and encourage businesses to invest in initiatives of ASEAN youngsters.

As a dynamic member of ASEAN, he said, Vietnam is working toward sustainable growth by improving growth quality and taking advantage of the fourth Industrial Revolution to raise labour productivity and competitiveness and jump to a higher place in the global value chain.

Vietnam is working to build a constructive government, promote institutional reform, create favourable environment for enterprises and people, especially the youth, and uphold the startup spirit and dynamism of the nation. Later, PM Nguyen Xuan Phuc and other ASEAN leaders were provided with a report on ASEAN development and integration by the WEF’s ASEAN regional strategic group. 

PM Minister Nguyen Xuan Phuc is among the various ASEAN leaders attending the Forum, including Philippine President Rodrigo Duterte, Lao Prime Minister Thongloun Sisoulith, representatives of heads of state/government and ministers from across the Asia-Pacific region will be also present, according to sources from the Cambodian Foreign Ministry.

The 26th WEF ASEAN takes place on May 11-12 amidst ASEAN celebrating its 50th anniversary. It is scheduled to have 40 panels focusing on youth, technology and growth. The event draws the participation of over 600 delegates, including senior leaders, ministers of ASEAN member countries and countries like Japan, the Republic of Korea, and representatives from international organisations and regional and global groups. 

This year’s agenda will focus on how the region's expanding young and dynamic workforces can be engaged in ways that build the brighter future for the region, giving Cambodia a chance to raise its international profile. 

WEF was established in 1971 as a not-for-profit foundation with its headquarters in Geneva, Switzerland. The forum holds annual meetings in Davos, Switzerland, but also convenes regional meetings each year across Africa, Europe, Latin America and ASEAN.

By Ha Thanh - Tuan Minh
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