ASEAN BIS 2010: Business Exchange and Connectivity of Different Economies

ASEAN Business and Investment Summit (ASEAN BIS) organized annually by ASEAN Business Advisory Council (ASEAN BAC) during ASEAN Summit is a forum for regional public and private organizations, representatives of governments and industries inside and outside the region. Furthermore, it is also business exchange and connectivity to promote business and industries in the region. On this occasion, ViB Forum interviewed Editor-in-Chief Dr. Doan Duy Khuong, VCCI Vice President, Chairman of ASEAN BAC and ASEAN BIS 2010.

ASEAN BIS has always drawn special attention of the leaders and businesses of the region, will ASEAN BIS 2010 also make a difference this time?

With the support of ASEAN-CCI (Chamber of Commerce and Industry), East Asia Business Council, Greater Mekong Sub-region Business Forum (GMS-BF) and the assistance of Vietnamese government and organizations, ASEAN BIS with the theme “Towards the ASEAN Community – From vision to action” has attracted the participation of 500 local and foreign businesses and associations. ASEAN BIS 2010 is increasingly well-known for assisting businesses in finding partners and markets. In particular, on October 26, 2010, ASEAN Secretary General Surin Pitsuwan will make a welcoming speech at the opening ceremony.

Also in the framework of ASEAN BIS 2010, there will be several meetings with strategic partners of the region such as Australia, New Zealand, China, India, Japan, South Korea and Russia. During those meetings, businesses will have the chance to discuss not only with local and foreign businesses but also strategists of the region as ministers, ambassadors, chairmen of big economic groups in Asia-Pacific region. This initiative of Vietnam will no doubt promote the long-term and solid cooperation between ASEAN and its strategic partners.

Could you elaborate further on the meeting and the subjects to be discussed?
The opening ceremony will be followed by the general debate “ASEAN economic community and the world” discussing the economic prospects of the region and the world and suggesting solutions for business activities in ASEAN region in the coming years. The meeting will also discuss ASEAN policy regarding competition and cooperation between partners. Participants in the seminar will also have the opportunity to introduce their business successes, recommend improvements and learn experiences from other businesses.

The second session will be on “ASEAN Competitiveness”. Though ASEAN is entering into a period of economic recovery, their economies are of different levels. The gap should be narrowed down. ASEAN agreements have focused on trade, service and investment which in turn will increase the competitiveness of ASEAN economies.

At the session, speakers will elaborate on the comparative advantages of ASEAN businesses in service sector which contribute an important part to GDP of ASEAN countries and continue to expand in the future. On the average, service sector accounts for 40-50 percent of ASEAN countries. The discussion will also focus on ASEAN Framework Agreement on Services (AFAS) and those signed with partner countries. In addition, participants will also discuss intra-regional agreements such as labour issue and financial service liberalization.

The third session will discuss “Driving force of ASEAN: SMEs and micro- business”.  ASEAN is one of the most populated region of the world. A dynamic and efficient environment for SMEs and small businesses will ensure a sustainable economic development. However, those economic sectors remain unaware of benefit brought to them by regional economic integration. At the session, Mr Ho Sy Hung, Head of SME Development Department, Ministry of Planning and Investment, Mr Chua Tiam Wee, Chair of Malaysian ASEAN BAC and SME Association, Mr Antonio Sayo, Chair of Food Security Association, Philippine Chamber of Commerce and Industry will share their success stories and assist SMEs to develop cooperation in regional trade and service.

In particular, meetings with ASEAN partners will take place: ASEAN - Australia-New Zealand, ASEAN – China, ASEAN – India, ASEAN – Japan, ASEAN – South Korea, ASEAN – Russia. The meetings will focus on promoting trade, development cooperation, bilateral and multilateral economic exchanges.

ASEAN Business Award 3 (ABA) is an event initiated by ASEAN BAC in 2010 to honour successful ASEAN businesses that contribute to ASEAN economic growth and prosperity. Could you give some more information on ABA 2010?
In 2007, ASEAN BAC decided to launch ASEAN Business Award (ABA) to commemorate the 40th anniversary of ASEAN to honour ASEAN successful businesses that contribute to ASEAN economic growth and prosperity. ABA promotes global competitiveness and success stories of ASEAN businesses. In addition, ABA 2010 will also offer SMEs opportunities to develop and become multinational corporations and global groups.

After selection process, 23 businesses have reached finale round and 8 businesses become “Most appreciated businesses” including both big businesses and SMEs. The award ceremony will be held at the Gala Dinner and also the closing ceremony of ASEAN BIS on October 27, 2010. The awards will be handed over by ASEAN leaders to companies of four merits: growth, employment, renovation and social responsibility.

KPMG auditing company, the strategic partner of ABA 2010, is responsible for the selection of award winners. ABA jury consists of leading businesses, economists and scholars from 10 ASEAN members.

Reported by Quynh Chi