Vietnam attends first Asia-Europe Economic and Business Forum

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan attends the first Asia-Europe Economic and Business Forum (AEEBF1) virtually from Hanoi. (Photo: VNA)

Hanoi (VNA) – Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan represented Vietnam to attend the first Asia-Europe Economic and Business Forum (AEEBF1), one of the side events of the 13th summit of the Asia-Europe Meeting (ASEM 13), held via video teleconference on November 24.

Themed “Transitioning to a New Normal: Leveraging Global Value Chains, Multilateralism and the 4IR,” the event was hosted by Cambodia’s Ministry of Commerce under the support of the Council for the Development of Cambodia (CDC), the Asia-Europe Foundation (ASEF) and other partners.

It brought together policymakers, economists and academics as well as representatives from nearly 500 corporations from 53 countries all over the world.

Cambodian Prime Minister Hun Sen speaks at the AEEBF1 from Phnom Penh. (Photo: VNA)

The event, initiated by Cambodia, the host country of ASEM 13, addressed a variety of topics, for example, the advancement of digitalization fostering global value chains and its consequences; impacts of the COVID-19 pandemic on trade, investment and economy and the post-pandemic economic recovery; and the significant roles of the multilateral trading system and free trade agreements in the Fourth Industrial Revolution (4IR) and the New Normal.

Speakers also discussed new growth opportunities for global trades and businesses, particularly start-ups and macro-, small- and medium-sized enterprises (MSMEs), in light of new technology and digitalization in the 4IR, with governments’ on-going adjustments and reforms; and investment in green infrastructure and green business to adapt to climate change and disaster management, thus building resilience to crises and ensuring sustainability and socio-economic development.

The ASEM 13 will take place in Cambodia on November 25 – 26./.

VNA