PHNOM PENH — Prime Minister Nguyễn Xuân Phúc attended the 26th World Economic Forum on ASEAN (WEF ASEAN) in Phnom Penh on Thursday, emphasising the creation of a new driving force to maintain the bloc’s dynamic development and competitiveness.

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

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

Apart from reforming economic management and governance, ASEAN countries need to equip their citizens, especially young labourers, with necessary skills to master advanced technology to meet new job requirements.

The PM proposed setting up a working group to study and put forth policies on education, vocational training and startup promotion, and to encourage businesses to invest in startup initiatives of ASEAN youngsters.

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

Việt Nam is working to build a constructive government, promote institutional reform, create a favourable environment for enterprises and people, especially the youth, and uphold the nation’s startup spirit and dynamism.

The May 11-12 event has drawn the participation of over 600 delegates, including senior leaders of ASEAN member countries as well as of Japan, the Republic of Korea, representatives from international organisations and regional and global groups.

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

Receiving WEF, AIIB, Cisco leaders

Prime Minister Phúc the same day received senior representatives of the World Economic Forum (WEF), the Asian Infrastructure Investment Bank (AIIB) and Cisco of the US.

Welcoming WEF Managing Director Philipp Roesler, PM Phúc hailed the WEF choosing Việt Nam for the WEF ASEAN 2018 and proposed closely working for the event.

The PM and the WEF official agreed to increase coordination in the WEF’s activities and promote cooperation agreements signed at the WEF Davos in January 2017.

At a reception for AIIB President Jin Liqun, the PM applauded the bank’s contributions to promoting regional economic connectivity via infrastructure development assistance. He said he wishes AIIB to boost collaboration with Việt Nam in studying and proposing co-operation projects for mutual benefit.

Receiving Global Director of Cisco Goh Seow Hiong, PM Phúc highlighted the US group’s effective operation in Việt Nam, suggesting its continued investment in information technology infrastructure, smart city and vocational training. — VNS