Prime Minister Hun Sen on November 10 highlighted the private sector’s contribution to post-pandemic economic recovery and resumption of socio-economic activity in the region, as he delivered his opening remarks at the ASEAN Business and Investment Summit (ABIS) 2022 in Phnom Penh.
Citing the ASEAN +3 Macroeconomic Research Office (AMRO), he said the bloc achieved economic growth rate of 3.1 per cent in 2021 and is projected to boost the growth to 5.3 and 4.9 per cent in 2022 and 2023, respectively.
The premier praised the ASEAN Business Advisory Council (ASEAN-BAC) – a body established with the mandate to give private sector feedback and guidance – for providing ASEAN leaders with key inputs and recommendations, which he said further contributed to the building process of the ASEAN Economic Community (AEC).
He commended the active participation of the private sector, saying such concerted efforts are needed to help ASEAN deepen economic integration and promote inclusive, competitive, resilient, sustainable and equitable recovery.
“We all need to cooperate to ensure that ASEAN continues to be an attractive and dynamic region for trade and investment,” he said.
To that end, he said the government has on its part adopted a new Law on Investment and the 2021-23 Strategic Framework and Programmes for Economic Recovery in the context of Covid-19.
“The government has been striving to increase investment in infrastructure development, both physical and digital, to improve the quality of logistics services, enhance the efficiency of public services, promote skill development and modernise social protection system,” he said.
