The 101st meeting of the ASEAN Business Advisory Council (ASEAN BAC) and the 24th meeting of the ASEAN Joint Business Council (JBC) are two important sessions held in Vietnam, focusing on economic and trade issues within the ASEAN region.

Prime Minister Pham Minh Chinh meets with the ASEAN Business Advisory Council (ASEAN BAC) delegation on September 13, 2024. Photo: Vietnam News Agency

- The recent ASEAN BAC 101 and JBC 24 meetings held in Vietnam are very significant events. What is your assessment of the outcomes of the meetings?

From the beginning of the year, when Laos took over the presidency of ASEAN BAC 2024, VCCI and ASEAN BAC Vietnam have closely coordinated and wholeheartedly supported Laos in preparing for and hosting the 101st ASEAN BAC and 24th JBC meetings in Hanoi. In fact, the meetings were successful, featuring lively discussions and very practical outcomes.

The morning council meeting and the 24th meeting with the Joint Business Council saw many meaningful exchanges. I assure you that the outcomes of this meeting will provide a strong foundation for progress, cooperation, and renewed energy in the common mission of Vietnam and the ASEAN bloc.

In the afternoon, members of ASEAN BAC also had a courtesy meeting with Vietnamese Prime Minister Pham Minh Chinh. This was a significant highlight of the working day. These activities not only offer opportunities to explore Vietnam's advancements but also further strengthen the friendship and solidarity characteristic of ASEAN BAC.

- What is ASEAN BAC Vietnam’s perspective on the key topics of this meeting, sir?

ASEAN BAC 2024 has focused on Heritage Projects to enhance connectivity and resilience in the region.

One of the standout initiatives is the implementation of the Sustainable Development Index (CSI), founded by VCCI, for businesses within ASEAN.

Regarding digital transformation, Vietnam welcomes ASEAN BAC's focus on digital transformation as a leverage for economic integration across ASEAN. The proposal to establish testing zones and promote the Digital Economic Framework Agreement (DEFA) is a very good initiative. Additionally, the idea of transforming ASEAN into an interactive digital market for investment is something Vietnam is ready to support.

On green energy transformation, Vietnam appreciates the discussions on green energy transition and the impacts of the Carbon Border Adjustment Mechanism (CBAM), as well as supports ASEAN BAC in establishing a coordinated policy framework across ASEAN to facilitate this transition.

The establishment of the ASEAN Net Zero Center and the ASEAN Carbon Excellence Center are initiatives that Vietnam is ready to back.

In particular, regarding supply chain connectivity, the push to enhance ASEAN's role as a "global supply chain powerhouse" is timely and necessary. Vietnam agrees with recommendations to strengthen public-private cooperation, attract investment in research and development, and enhance intellectual property protection.

Moreover, investment in emerging sectors is also a key concern. Vietnam recognizes the potential of areas such as high-value agriculture, high-tech manufacturing, and the digital economy. Finally, Vietnam supports addressing existing trade and investment barriers within ASEAN.

We believe that by removing these barriers, we can enhance intra-ASEAN trade, attract more foreign direct investment, and ensure our region remains competitive on the international stage.

- Can you share the key points from the recent meeting between Prime Minister Pham Minh Chinh and ASEAN BAC?

During this meeting, ASEAN BAC Chair Oudet Souvannavong and the chairs of ASEAN BAC member countries expressed their condolences for the losses of life and property that Vietnam has suffered due to Storm No. 3 and the recent flooding.

In this regard, following the initiative of ASEAN BAC Vietnam and with the support of ASEAN BAC members, the council committed to provide Vietnam with $50,000 to help recover from the damages caused by Typhoon Yagi.

From Vietnam's side, Prime Minister Pham Minh Chinh affirmed that he would continue to support Laos in successfully organizing the 44th and 45th ASEAN Summits and related meetings. The Prime Minister emphasized the crucial role of the ASEAN business community in the bloc's development to date.

During the recent meeting, Prime Minister Pham Minh Chinh also proposed that ASEAN BAC and the ASEAN countries implement five areas of cooperation: collaboration in building institutions and policies; collaboration in economic connectivity through infrastructure; collaboration in mobilizing resources; collaboration in developing high-quality human resources; and collaboration in building and managing smart, modern, and innovative enterprises.

Thank you very much!