In his opening remarks at the ASEAN Business and Investment Summit (ABIS) 2022 in Phnom Penh on November 10, Prime Minister Hun Sen emphasized the private sector’s contribution to the region’s post-pandemic economic recovery and resumption of socioeconomic activity.
According to the ASEAN +3 Macroeconomic Research Office (AMRO), the bloc achieved 3.1% economic growth in 2021 and is expected to increase to 5.3 and 4.9 percent in 2022 and 2023, respectively.
The premier praised the ASEAN Business Advisory Council (ASEAN-BAC), a body established with the mandate to provide private sector feedback and guidance, for providing key inputs and recommendations to ASEAN leaders, which he said contributed to the ASEAN Economic Community’s (AEC) building process .
He praised the private sector’s active participation, saying that such concerted efforts are needed to help ASEAN deepen economic integration and promote inclusive, competitive, resilient, sustainable, and equitable recovery.
“We must all work together to ensure that ASEAN remains an attractive and dynamic region for trade and investment,” he said.
He stated that the government, for its part, had adopted a new Investment Law as well as the 2021-23 Strategic Framework and Economic Recovery Programs in the context of Covid-19.
“The government has been working hard to increase investment in infrastructure development, both physical and digital, in order to improve the quality of logistics services, improve the efficiency of public services, promote skill development, and modernize the social protection system,” he said.
Source: PhnomPenh Post