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53 INVESTMENT POTENTIAL
facilitating student exchange programmes
between institutions in ASEAN member states.
In return, this will build friendship and help youth
understand the diversity within the region.
Other steps to foster a more integrated
ASEAN, the monarch highlighted, include
initiatives that will prepare ASEAN better for
the digital future. An example is to strengthen
telecommunications in the region in terms of
mobile data roaming to enhance intra-ASEAN
travel and connectivity.
Vietnam to chair 2020 ASEAN
Summit
It is a tradition for ASEAN’s 10 members to take
turns chairing the regional bloc in alphabetical
order. On January 1, 2020, Vietnam formally took
over from Thailand.
Prime Minister of Vietnam Nguyen Xuan Phuc
has said that Vietnamwill focus on strengthening
ASEAN’s sustainable cohesion by upholding
solidarity and unity. The country also aims
to increase economic links and connectivity,
deepen the values and identities of ASEAN
members, improve the efficiency of the ASEAN
apparatus and promote ASEAN’s partnerships in
the global community.
Vietnam’s chairmanship is themed ‘Cohesive
and Responsive’ and the country has identified
five priorities for 2020. Among these priorities
is to enhance the bloc’s performance of its role
and contribution to the maintenance of regional
peace, security and stability.
Another important priority for Vietnam is to
boost connectivity and improve the capacity of
adapting to and capitalise on the Fourth Industrial
Revolution. At the same time, the country places
importance on promoting awareness of the
ASEAN community and its identities to create
common values for the group.
Other priorities include reinforcing partnerships
for peace and sustainable development with
other countries; improving ASEAN’s adaptability
and efficiency by reforming institutions; and
improving the operations of the association’s
apparatus.
Vietnam will mark the 25th anniversary of its
accession to ASEAN in 2020. Its growth has been
nothing short of remarkable since the country
opened its economy in the 1980s with a series of
market reforms that have boosted development
and lifted millions out of poverty.
As one of Asia’s most dynamic economies,
Vietnam is an attractive investment destination
and has contributed towards making ASEAN
the fifth largest economy in the world. In 2018,
the combined gross domestic product (GDP) of
ASEAN was USD3 trillion.
A total of 300 meetings and activities were
scheduled to be held in Vietnam in 2020. The
most important will be summits in April and
November and the 41st General Assembly of the
ASEAN Inter-Parliamentary Assembly (AIPA) in
August. Vietnamwill also host the ASEAN Foreign
Ministers’ Meeting and ministerial meetings.
Deputy Minister of Foreign Affairs Nguyen Quoc
Dung, who is also the Secretary General of the
National ASEAN 2020 Committee, said 2020
has a significant meaning to both ASEAN and
Vietnam. The year marks the mid-term review of
the ASEAN Community’s Master Plan 2015-25,
while Vietnam will celebrate its 25th anniversary
as a member of the bloc.