Vietnamese Prime Minister Nguyen Xuan Phuc along with President of the Republic of Korea (RoK) Moon Jae-in and leaders of ASEAN member states attended the ASEAN-RoK Startup Summit in the Korean city of Busan on November 26.

At the event (Photo: VNA)

Speaking at the event, leaders of ASEAN member states affirmed that start-up and innovation are very important to development policies of countries at present, including ASEAN nations and the RoK.

Each country designs policies that are the most favourable for start-ups, considering it an important driving force of growth amid the fourth industrial revolution, they said.

President Moon Jae-in said ASEAN is a dynamic region with 60 percent of population aged below 35, making it a key region during the fourth industrial revolution.

He added that the ASEAN and the RoK’s coordination to promote start-ups and innovation will contribute to peace and prosperity in the region.

According to the President, similarities in growth of the ASEAN and the RoK have prompted the country to pursue the New Southern Policy.

The RoK wants ASEAN countries to set up a start-up ecological system that will group all systems pursued by each member of the bloc, he said.

As ASEAN Chair 2019, Thai Prime Minister Prayut Chan-o-cha said the ASEAN has stepped up cooperation in start-ups, innovation and linkage between start-ups via forums towards the goal of sustainable development.

Participants shared the view that the ASEAN and the RoK need to continue attaching importance to start-up collaboration to accelerate dynamic, inclusive and sustainable growth, in line with the Joint Vision Statement for Peace, Prosperity and Partnership as well as the 2021-2024 action plan between the ASEAN and the RoK.