Regional Industry Leaders Attend 11th ASEAN Business and Investment Summit

15-11-2014

Source:  ASEAN Secretariat News

Regional Industry Leaders Attend 11th ASEAN Business and Investment Summit

NAY PYI TAW, 15 November 2014 - The ASEAN business community held its own parallel event at the sidelines of the 25h ASEAN Summit.  The 11th ASEAN Business and Investment Summit (ASEAN-BIS) was held in Nay Pyi Taw from 11-13 November 2014 with the theme “Inclusive Connectivity: New Growth Paradigm.”

The ASEAN-BIS was opened by H.E. U Thein Sein, President of the Republic of the Union of Myanmar.  It was attended by over 500 business participants from the 10 ASEAN Member States.  The annual ASEAN-BIS is seen as an important annual event to further raise awareness of the ASEAN Economic Community (AEC) among the business communities of ASEAN and to enhance linkages amongst them.

In his keynote speech, President Thein Sein paid tribute to the role of ASEAN Business Advisory Council (ASEAN-BAC)in fostering market competitiveness of micro, small and medium enterprises (MSMEs).  He stressed that “we as ASEAN, a people-centred and people-oriented organisation, must highlight the importance of people’s participation in the business environment, along with inclusiveness and transparency.”

ASEAN-BIS sessions focused on the need for inclusive connectivity in growth, noting that ASEAN needs to better leverage on its cultural bonds, historical ties and infrastructure growth to further advance the region’s potential.  ASEAN-BIS also deliberated on the region’s economic opportunities and implementation strategies that could enhance ASEAN regional integration.  Another important focus of the 11th ASEAN-BIS was on MSMEs, with participants seeking to gain a better understanding of the developments within ASEAN and the role of MSMEs towards the realisation of the economic community.  Other issues considered were the potential of the ASEAN consumers, the need to narrow the development gap, financial inclusion and the digital landscape.

An important event that accompanied ASEAN-BIS was the ASEAN Business Awards. A total of 21 ASEAN companies were honoured for their excellence in Innovation, outstanding MSMEs, Young Entrepreneurs, Women Leaders, Corporate Excellence and ASEAN Centricity.

This leading ASEAN business event was organized by ASEAN-BAC, helmed this year by U Win Aung, Chair of ASEAN-BAC 2014 and head of the Union of Myanmar Federation of Chambers of Commerce and Industry.