PHNOM PENH: The Chairman of ASEAN in 2022, Prime Minister Hun Sen, has said that in the context of returning the socio-economic situation to normal, the private sector plays an important and indispensable role in joining ASEAN to promote the development of environmentally friendly, resilient, and sustainable practices.

Speaking at the ASEAN Business and Investment Summit 2022, Prime Minister Hun Sen said that private sector assistance has helped ASEAN to boost economic activity, trade, and investment, and especially promote foreign direct investment and maximize the benefits of existing ASEAN Free Trade Agreements. This assistance has further helped promote the development of information technology, digital technology, research, innovation and human resources through the transfer of technology, knowledge, re-skilling and upskilling. The ASEAN Chairman further stressed the importance of promoting fraternal development, the environment and digitalization, to reduce the digital gap, supplement financial needs for the rehabilitation of sustainable socio-economic development, and more.

The ASEAN Business and Investment Summit 2022 began on 9 November 2022 and will end on 10 November 2022. The meeting will focus on the ongoing Russia-Ukraine war, socio-economic recovery from the COVID-19 pandemic, ASEAN’s digital age, green and sustainability growth, and especially the benefits of free trade agreements between private companies and ASEAN leaders.