Vietnam’s Important Contributions to ASEAN’s Economic Priorities

Vietnam's Important Contributions to ASEAN's Economic Priorities
Arsjad Rasjid, chairman of the ASEAN Business Advisory Council 2023 (ASEAN-BAC 2023). Photo: VNA

Ahead of the 42nd ASEAN Summit, scheduled to take place on May 9-11 at Labuan Bajo, Indonesia, Chairman of the ASEAN Business Advisory Council (ASEAN-BAC) Arsjad Rasjid assessed that Vietnam made important contributions to the realization of the ASEAN Chair’s economic priorities in 2023.

According to Rasjid, Vietnam plays an important role in promoting trade and investment within and outside the region, participating in initiatives such as the ASEAN Free Trade Area. Vietnam recently expressed its desire to join the cross-border payment network, which is considered a positive development step for regional economic integration.

In addition, Vietnam’s hosting of the upcoming ASEAN Wind Energy 2023 conference is a significant contribution to the region’s renewable energy goals.

According to the International Renewable Energy Agency, Southeast Asia has wind power capacity of up to 8.5 GW by the end of 2020, expected to reach 35 GW by 2030 if current policies and targets are achieved. Vietnam is the largest wind power market in the region, with a projected generating capacity of 13.9 GW by 2025.

The ASEAN-BAC Chairman affirmed that Vietnam’s above contributions are important in advancing ASEAN’s economic agenda. He emphasized Vietnam’s commitment in various initiatives showing Hanoi’s readiness to move towards a more integrated and prosperous region.

According to Rasjid, ASEAN-BAC has identified five priority economic issues to be addressed this year, including digital transformation, sustainable development, health recovery, food security, trade and investment.

To advance these priorities, ASEAN-BAC has developed eight legacy projects towards an integrated, connected and sustainable economic region.

The above projects include ASEAN QR Code, Lending Market Platform, Entrepreneur Open Dictionary, ASEAN Zero Emission Center, Advanced Carbon Center, ASEAN One Shot vaccination campaign, Model for agricultural products and ASEAN Business Entity.

Vietnam's Important Contributions to ASEAN's Economic Priorities
Arsjad Rasjid, chairman of the ASEAN Business Advisory Council (ASEAN-BAC) in an interview. Photo: VNA

These priority initiatives of the ASEAN-BAC received the support of all ASEAN economic ministers and made progress. One of the initiatives that progressed is the ASEAN QR Code, which aims to facilitate cross-border payments by providing standardized QR codes to merchants. This allows them to accept payments with different types of e-wallets in the region.

Currently, the payment systems of Indonesia, Malaysia and Thailand have been connected. Meanwhile, Malaysia and Thailand also have integrated payment systems with Singapore. However, more effort is needed to encourage wider adoption and ensure connectivity in all ASEAN countries.

ASEAN-BAC Chairman Rasjid said earlier, Indonesian Foreign Minister Retno Marsudi announced that ASEAN agreed to build a regional ecosystem for electric vehicles.

All member countries welcomed the theme of the ASEAN Indonesia Chairmanship 2023 “ASEAN Matters: Epicentrum of Growth” with three strategic spearheads including recovery and reconstruction, digital economy, and sustainable development.

Rasjid emphasized that the shift towards sustainable transport is important for ASEAN. It is encouraging that ASEAN member countries come together to support this goal.

The adoption and implementation of the electric vehicle agreement will have a positive impact, not only on the environment but also on the economy. It will create new business opportunities for the private sector and accelerate technological advancements.

Rasjid also said Indonesia and the Philippines hold 33% and 40% of the world’s nickel reserves, respectively. This forms a solid basis for the partnership. They become pioneers in the battery and electric vehicle industries on both a regional and global scale.

Rosie Nguyen

The post Vietnam’s Important Contributions to ASEAN’s Economic Priorities appeared first on Vietexplorer.com.

View more from VietExplorer:

Teacher translates Vietnamese kids’ songs into English
Muong Te border district prepares for elections
Fruit exports to the US thrive
Maintaining the sound of Khen panpipes
Regional Covid-19 outbreaks challenge Vietnam’s resumption of int’l tourism
Nearly 40% of Vietnamese workers in tourism remain idle
Vietnam discusses opening door to international tourists
Hai Van Pass named among world’s most beautiful drives
Ancient village well in Hoa Lu former imperial city
Pure beauty of Thai Binh clam farms
Discovering unique world coffee museum in Dak Lak
Bridge to a village’s distant past
Tourism agencies see more bookings for summer travel
National Online Book Festival launched
Programme honours Vietnam’s Ao Dai
ECO-SUS art exhibition held in Quy Nhon
Nearly 2,000 entries submitted to Vietnam’s national press awards
Musical ‘Les Misérables’ tours across Vietnam
Hanoi tightens control over cultural activities
“The subtle move” praises beauty of silk paintings

Nhận xét

Đăng nhận xét

Bài đăng phổ biến từ blog này

Hanoi Among Top 10 Most Romantic Destinations in Asia

Hình ảnh
Hanoi is Vietnam’s historic and vibrant capital and it is known for the various rivers, lakes, and mountains that run beside and around it. Scattered around are tourist attractions that are very appealing because of the lush regions full of streams, rivers, and mountains, such as Tam Dao, Con Son, Kiep Bac, and so on. It has mostly recovered from decades of conflict and is currently experiencing a development boom, making it a fast-expanding metropolis in Southeast Asia . Photo: Meogiaphoto There is no better way for you to capture a memory than through the beauty of a photograph. Pictures will give you something to cherish and remember from your time together. Hanoi offers various photogenic spots, where will witness the enrichment of your magical romance. A postcard can be an equally romantic gesture – there are so many attractive landmarks around Hanoi and a hand-written message is one of the most romantic things you can do to stay in contact with someone far away. H...
Đọc thêm

Promoting Hanoi Old Quarter’s rich heritage through an exhibition

Hình ảnh
Hang Gai Ward People’s Committee, in collaboration with curator Nguyen The Son and Young Artists Group “ From Tradition to Tradition ,” presents the thematic exhibition “The Story of the Street’s Communal House” at Ha Vi and Tu Thi Communal Houses in downtown Hanoi. The Parade celebrates the opening of thematic exhibitions at Hanoi’s Ha Vi and Tu Thi community houses. Photo: Cong Luan Newspaper The cultural event aims to celebrate the 18th anniversary of Vietnam’s Cultural Heritage Day, which falls on November 23, and the Hanoi People’s Committee’s recognition of the Hoan Kiem Lake area – its surroundings and the Old Quarter of Hanoi – as a city-level tourism zone. The exhibition features a variety of Hanoi’s traditional handicrafts, such as silk, lacquer, and hand embroidery, as well as sketches and photographs of Hanoi, among others. In addition, the new collection of brand identities of  Ha Vi  and Tu Thi Communal Houses will also be launched. By scanning t...
Đọc thêm

Promoting Cuba to the Youth: Efforts of HCM City’s Vietnam – Cuba Friendship Association

Hình ảnh
The Vietnam – Cuba Friendship Association’s chapter in Ho Chi Minh City (VCFA HCMC) will continue to promote people-to-people diplomacy activities to increase understanding between the people of Vietnam and Cuba as well as between HCM City and Cuban localities in particular, contributing to further intensifying the special relations between the two countries. This orientation was approved at the third congress of the association for the 2023-2028 tenure held in HCM City on December 28, VNA reported. Truong Thi Hien, chair of the Vietnam – Cuba Friendship Association in Ho Chi Minh City for the 2023 – 2028 term, spoke at the congress. Photo: HUFO Accordingly, the VCFA HCMC will focus on promoting communication activities, including setting up a YouTube channel named “Cuba – The Beautiful Island”, to introduce the country and people of Cuba to people from all walks of life, especially young people, and the importance of the Vietnam-Cuba relations in the new situation. A...
Đọc thêm