ABIS 2016 Turning AEC Vision into Reality

With the theme of “Operationalising AEC - Turning Vision into Reality”, ABIS 2016 is a platform for business leaders to discuss, share and answer pressing issues related to investment attraction and potential business in the region. ABIS 2016 is a place where they can explore new ideas, challenge perspectives, outline opportunities, network and most importantly, attain the necessary insights to propel your business towards regional success.

 

The two-day meeting conference features Day 1 topic on September 5 “Operationalising the AEC - Turning Vision into Reality” comprised of the opening remarks by Mr Oudet Souvannavong, Chairman of ASEAN Business Advisory Council (ASEAN BAC); the Introduction by H.E. Khemmani Pholsena, Minister of Industry and Commerce of Laos and Chair of the ASEAN Economic Ministers Meeting; and the keynote speech by H.E. Thongloun Sisoulith, Prime Minister of Laos.

 

The Special Ministerial Session on Complementing Regional and Global Free Trade Agreements will be chaired by Mr Yasuhiko, Columnist of Nikkei Asian Review.

In Session 1: “Energy, Infrastructure and Environment Development in ASEAN - Fast Tracking Business Development and Integration” with Speaker Jean-Christophe Philbé, Senior Vice President in charge of Asia Pacific of Électricité De France (EDP), the conference underscores that energy, infrastructure and environment development are the key elements of economic sustainability towards equitable growth and prosperity. They cut across beyond the purely economic dimensions to reinforce social, cultural and political transformation. They serve as strong foundation where reforms can take off and be sustained in pushing for deeper regional economic integration.

 

Energy and infrastructure development have considerable impacts on the environment and vice versa. There are many concepts related to joint energy, infrastructure and environment solutions such as the green and smart city, which must be considered. Nevertheless, challenges in realising these aspirations are formidable as we set our sights towards a new milestone of 2025 for the ASEAN Economic Community (AEC). The political will, sufficiency of financial and non-financial resources, the availability and diversity of talents, and the preparedness for change vary across ASEAN Member States.

 

Day 2, September 6 with the theme of “AEC Symposium 2016” highlights the main content “Global Megatrends and Regional Integration” presented by Speaker Manoj Menon, Partner and Managing Director for Asia & Pacific, Frost & Sullivan. The ASEAN Community was formally established on December 31, 2015 and the region is faced with underlying global megatrends. Global megatrends are already affecting the region with rapid technology advancement and subsequently the digitisation of the economy, growing urbanisation waves, and increased interconnectedness of the global economy. To spur economic growth, policy makers and business need to take full advantage of opportunities associated with these trends.

 

In Session 3: “AEC Sustainable Economic Development”, a new feature in the AEC Blueprint 2025 is the expressed recognition of sustainable economic development as an integral part of the region’s growth strategy. While the emphasis is heavy on environmental sustainability and resource scarcity, the issue of social sustainability is also becoming more pertinent. Resource scarcity, product differentiation and the drive to penetrate high value high demand market segments were the pull factors from the production side, while increasingly educated and organised consumers and pressure groups serve as the push factors from the consumption side. At the same time countries with less sustainable-ready regulations may risk the entry of, or being driven to, unsustainable production practices and, to a lesser extent, unsustainable products.

 

The Session 4 “The Future of Technology – Focusing on the Digital Economy” is presented by Speaker Martin Hayes, President of Bosch Southeast Asia.

 

AEC 2025 recognises the opportunities presented by technological development and innovation and the need to take into consideration paradigm-changing developments, including in the area of digital economy. The past few years have witnessed the birth of several new, disruptive technologies such as digital devices, cloud computing and e-commerce that have revolutionised the way to do business. These technological advancements have created a digital economy. However, for those unable to adopt and adapt, the digital economy presents a challenge to business survival.

 

Policymakers, business players and stakeholders of the AEC need to embrace the potential of the digital economy and how its implications will shape and influence the region’s economic integration agenda. The key challenge is to strike the right balance between putting in place the necessary infrastructure and appropriate regulatory framework to enable the smooth running of the economy, while ensuring that these are done in the least trade distorting manner.

 

In Session 5: “Boosting the MSMEs’ Engine for Growth - Youth and Women Entrepreneurship Roles”, participants discuss micro, small and medium enterprises (MSMEs) are key drivers of economic growth. Their role has been widely recognised as contributing to income and exports, and creating employment. Often overlooked, however, is the potential and contribution of the MSMEs to generate value and be a source of innovation. There is a growing trend among young people and women turning to entrepreneurship, facilitated by technology and reduced gender barriers. This makes MSMEs a natural entry point in their participation in global value chains.

 

Continuous innovation is key to survival, particularly for SMEs. At the same time, there has been a growing number of success stories of SMEs in introducing disruptive technologies, such as through the myriad of applications from mobile internet technology. This session will discuss what can be learned from established business owners and provide business insights to enable SMEs to sustain their businesses and make them grow.

 

Also at the meeting, the ASEAN Secretariat and the United Nations Conference on Trade and Development (UNCTAD) will present the highlights of the ASEAN Investment Report 2016: Foreign Direct Investment and MSME Linkages; and announce the ASEAN Regional Integration Support from the EU (ARISE). This programme is a trade facilitation tool aimed at delivering practical solutions to ASEAN based enterprises for specific intra-ASEAN cross border trade problems in a time-bound manner in the framework of AEC Blueprint 2025.

 

The meeting also introduces the Tariff Finder, a tool to help businesses, especially MSMEs to obtain up-to-date information on the preferential tariffs applied under free trade agreements.

 

Particularly, ABIS 2016 also comprises ASEAN Business Awards (ABA) Ceremony to give recognition to companies that have contributed to the growth and prosperity of the ASEAN economy. ABA was conceived to be the first of their kind in the region, with the dual objectives of recognising outstanding ASEAN enterprises, and to serve as a platform to spread information concerning the AEC. This is also a chance for Vietnamese companies to introduce their images to the region and the world.