ASEAN++ Bridge forum seeks sustainable development

HCM City – The ASEAN++ Bridge forum, themed “Connecting for Sustainable Development”, took place in Ho Chi Minh City on September 9.

Co-hosted by the municipal Department of Industry and Trade and the Ho Chi Minh City Association for Women Executives and Entrepreneurs (HAWEE), the event drew over 400 businesses and representatives from trade promotion agencies and business associations from 10 ASEAN member states and Japan, India, the Republic of Korea, Australia and New Zealand.

Speaking at the event, HAWEE Chairwoman Cao Thi Ngoc Dung said the event aims to encourage cooperation and investment among ASEAN nations while fueling sustainable growth for regional corporate community via business matching.

Financial Advisory Leader for Asia Pacific at Deloitte Ng Jiak See said ASEAN is now the fifth largest economy in the world with a total GDP of 3.2 trillion USD, behind the US, China, Japan and Germany. It is on the way to become the fourth largest by 2030, surpassing Japan.

Despite the COVID-19 pandemic, the flow of foreign direct investment into ASEAN still hit the pre-pandemic level in 2021, amounting to 175 billion USD.

She suggested ASEAN member states take immediate actions and join hands to achieve an economy with low emissions because now is decisive time. If climate change becomes uncontrollable, the ASEAN economy will incur a loss of 28,000 billion USD in the next five decades, she warned.

The European Union (EU) and the Association of Southeast Asian Nations (ASEAN) will hold a summit of national leaders for the first time in December to discuss expanding trade and infrastructure assistance as the EU seeks to strengthen ties with ASEAN.

Recognising a need to increase the use of digital technology as a key tool in economic and social development, the government of Thailand has adopted a policy to promote the digital economy.