ASEAN BIS 2015 Acelerating AEC Formation

16 November 2015
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The ASEAN Business and Investment Summit (ASEAN BIS) is annually organised by the ASEAN Business Advisory Council (ASEAN BAC) as side-event to the ASEAN Leaders Summit. This year, ASEAN BIS is set to take place on November 20 and 21 in Malaysia. The event expects to accelerate the formation of the ASEAN Economic Community (AEC) this year.

For the time being, the AEC construction roadmap is progressing smoothly and achieving objectives. However, to complete the roadmap in 2015, it requires all ASEAN countries and companies to make necessary changes to their strategies and settle their disagreements. Besides, they necessarily provide more legislative support for least developed countries in the bloc to technically fulfil and enjoy all benefits from the AEC.

Against this backdrop, ASEAN-BIS 2015 aims to review and find ways to facilitate and promote cooperation initiatives and ASEAN economic integration, helping step up the formation of the AEC. This is also a meeting place of public and private sectors, government officials, and industry representatives in ASEAN and beyond to meet, exchange, connect and promote industry and business in the region. Besides, ASEAN-BIS will have multiple dialogue sessions dedicated to strategic partner countries like China, South Korea, Japan, Indonesia, Russia and New Zealand.

Dr Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI) cum Chairman of ASEAN BAC Vietnam, said that ASEAN BIS always serves as an effective and supportive forum for businesses in the region and the world to meet, exchange experience and build up close relations. This is also a good chance for businesses to assert their positions in the market and identify their strengths, weaknesses, opportunities and threats in order to build a sustainable vision and actionable strategy for the advent of the AEC at the end of this year.

This year, ASEAN BIS is scheduled to take place in Kuala Lumpur, Malaysia. As the host country, Malaysia is working with other ASEAN states to build up a fast-growing and most dynamic region of the world. 2015 will be a pivotal year for ASEAN to strengthen its efforts towards the formation of the AEC. Through direct dialogues with government officials, business leaders from ASEAN member countries and partner countries as well will continue to put forth new initiatives in support of businesses, especially small and medium enterprises (SMEs) by addressing barriers and improve the resilience of businesses.

Besides, ASEAN BIS 2015 is a meeting point where businesses will have the opportunity to learn more about leading development trends of the world and related areas. Each year, ASEAN BIS attracts 700 – 1,000 businesses from ASEAN member countries, ASEAN dialogue partners and from the rest of the world. This is also a good opportunity for them to meet, exchange information, seek business partners, and increase investment opportunities with partners in ASEAN and beyond.

On the first day of gathering, ASEAN BIS 2015 will focus on the following contents: Results and progress in the formation of the AEC, and solutions to outstanding issues. In addition, one of important contents is what opportunities the AEC will bring in and how ASEAN countries will grasp such opportunities for best development?

The second day will enquire into ongoing profound changes in the region, opportunities and challenges for small and medium-sized enterprises, backbone elements of ASEAN economy. Discussions will also highlight the role and position of young entrepreneurs and women entrepreneurs in the context of integration.

Like previous years, on the sidelines of main events, ASEAN BAC will grant ASEAN Business Awards (ABA) to recognise and honour successful and brilliant ASEAN companies for their contributions to ASEAN economic growth. This is also a pioneer model in the region as it not only honours outstanding ASEAN businesses but also serves as an effective communication channel for the AEC. Moreover, joining ABA 2015 will be an opportunity for businesses to boost their images in the regional and international arenas.

In 2014, the Myanmar Chamber of Commerce and Industry hosted ASEAN Business Award (ABA) 2014. Vietnam had many winners. Saigon – Hanoi Bank (SHB) was granted the “Best Business of Vietnam” Award and presented Vietnam, together with nine other countries, to vie for the “Business of ASEAN” Award. Ms Nguyen Thi Nga, Chairwoman of Southeast Asia Commercial Joint Stock Bank (SeABank), was named “National Winner – Best Business Women Leader” and “Most Admired ASEAN Enterprise Women Leader”.

This year, ABA has 18 award categories, including 12 categories for outstanding businesses in 12 prioritised integration fields of ASEAN and four awards for SMEs based on growth, employment, innovation and corporate social responsibility criteria. ABA 2015 will also present prizes to young entrepreneurs and women entrepreneurs. Finalists and winners of ABA 2015 will be honoured, becoming symbols for the success of ASEAN businesses.

Ha Vu