Prime Minister Nguyen Xuan Phuc attended the 26th World Economic Forum on ASEAN (WEF ASEAN) in Phnom Penh on May 11, emphasising the creation of a new growth driving force to maintain the bloc’s dynamic development and competitiveness.

Prime Minister Nguyen Xuan Phuc delivers a speech at the opening plenary

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.

He said to maintain its dynamic development and competitiveness, ASEAN should not only depend on resources and young labour force, but also create a stronger growth driving force from innovation.

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.

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 or buy startup 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, 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.

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. 

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

VNA