Vietnam has made positive contributions to materialising economic priorities of ASEAN in 2023, Chairman of the ASEAN Business Advisory Council 2023 (ASEAN-BAC) Arsjad Rasjid said in a recent media interview ahead of the 42nd ASEAN Summit slated for May 9-11 in Labuan Bajo, Indonesia.
He said that Vietnam has been an important player in promoting trade and investment within the region and beyond, as the country has actively participated in initiatives such as the ASEAN Free Trade Area and recently expressed interest in joining the cross-border payment connectivity network, which is a positive development for the region’s economic integration.
According to him, Vietnam’s upcoming hosting of the ASEAN Wind Energy 2023 event is a significant contribution to the region’s renewable energy goals.
He cited the International Renewable Energy Agency as saying that Southeast Asia has a cumulative installed wind capacity of 8.5 GW at the end of 2020, and the projected capacity is 35 GW by 2030 if current policies and targets are achieved. Vietnam is the largest wind market in the region, with a generation capacity of 13.9 GW planned for 2025.
“Overall, I think that Vietnam’s contributions have been significant in moving forward the economic agenda of ASEAN, and their commitment in various initiatives demonstrate their willingness to work towards a more integrated and prosperous region, stated Arsjad Rasjid.
The ASEAN-BAC has identified five priority economic issues that need to be addressed this year, namely digital transformation, sustainable development, health recovery, food security, and trade and investment. To advance these priorities, ASEAN-BAC has developed eight “legacy projects” towards an integrated, connected and sustainable economic region, Arsjad Rasjid said, adding that these projects are the ASEAN QR Code, Marketplace Lending Platform, Wiki Entrepreneur, ASEAN Net Zero Hub, Carbon Center of Excellence, ASEAN One Shot Campaign, Inclusive Closed-Loop Model for Agricultural Products, and the ASEAN Business Entity.
These priority initiatives of the ASEAN-BAC have received support from all ASEAN economic ministers and made progress, he said./.