Prime Minister Nguyen Xuan Phuc attended the 26th World Economic Forum on ASEAN (WEF ASEAN) in Phnom Penh on May 11, the Vietnam News Agency reports.

In his speech at the opening plenary session themed “ASEAN: 50 Years Young”, the PM highlighted the achievements in the development and regional integration ASEAN has made over the past 50 years, saying the bloc’s dynamic development has offered opportunities to businesses.

The creation of a new growth driver will maintain the bloc’s dynamic development and competitiveness, he added.

He said that to maintain its dynamic development and competitiveness, ASEAN should not only depend on resources and a young workforce but also create a stronger growth driver from renovation.

Apart from renewing economic management and governance, ASEAN countries need to equip and provide people, especially young workers, with the necessary skills to master advanced technology, meeting requirements on new jobs.

He 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 or buy startup initiatives of ASEAN youngsters.

As a dynamic member of ASEAN, he said, Vietnam is working towards sustainable growth by improving growth quality and taking advantage of the fourth industrial revolution to raise worker productivity and competitiveness and move up in the global value chain.

Vietnam is working to build a constructive government, promote institutional reform, create a favorable environment for enterprises and people, especially young people, and uphold the startup spirit and dynamism of the nation, he said.

Later, PM Phuc and other ASEAN leaders were provided with a report on ASEAN development and integration by the WEF’s ASEAN regional strategic group.

The 26th WEF ASEAN takes place amid ASEAN celebrating its 50th anniversary. It is scheduled to have 40 panels focusing on youth, technology, and growth.

The event is being attended by over 600 delegates, including senior leaders and ministers of ASEAN members and countries like Japan and South Korea, and representatives from international organizations and regional and global groups.

Following the opening session, the PM had bilateral meetings on the sidelines of the event.

VN Economic Times