(MPI) – Deputy Minister Nguyen Thi Bich Ngoc was authorized by Minister of Planning and Investment to attend the online meeting of the 24th ASEAN Economic Ministers - ASEAN Investment Area Council (the 24th AEM AIAC) on September 8th, 2021.
Deputy Minister Nguyen Thi Bich Ngoc (C) at the meeting. Photo: MPI
The meeting agreed on the ASEAN Investment Facilitation Framework (AIFF) regarding its principles, and actions to facilitate investment flows into ASEAN as the region moves towards post-pandemic economic recovery and the implementation of AIFF in the coming time. AIFF is built to improve the accessibility and transparency of investment measures, to rationalize and speed up administrative procedures and requirements; create favorable conditions for investment to foster regional economic integration and allow ASEAN to seize the opportunities due to the changes in global supply chains. The meeting recognized the AIFF’s importance in bringing specific benefits to stakeholders and looked forward to the implementation of AIFF in relation with these issues.
The meeting acknowledged the discussion process in transforming the Reservation List of the ASEAN Comprehensive Investment Agreement (ACIA) into two Categories with the “negative list” approach, insisted of providing more certainty and transparency for investors.
The meeting welcomed the launch of the ASEAN Investment Report (AIR) for 2020-2021. In addition to highlighting the latest developments in the investment environment in ASEAN, this year’s Report also contributed to ASEAN’s current works in the Fourth Industrial Revolution. The report stressed the role of foreign direct investment (FDI) and multinational enterprises (MNEs) in the Fourth Industrial Revolution in the regionals development. The meeting thanked the United Nations Conference on Trade and Development (UNCTAD) for its contribution to the development of this annual publication, and the support of the Government of Australia through the ASEAN - Australia Development Cooperation Programme Phase II (AADCP II).
The meeting also welcomed other initiatives to deal with the challenges posed by the pandemic under the ASEAN Comprehensive Recovery Framework, such as the “Investment opportunities in ASEAN 2021” document with the theme of “Investing in ASEAN: Towards Sustainable Growth in the New Normal” published in November 2020. The Forum and Report on Sustainable Investment in ASEAN are expected to be held in November 2021./.
Ministry of Planning and Investment