Thai Prime Minister Prayut Chan-o-cha on Friday highlighted the significant role of technology and innovation in reinforcing COVID-19 recovery efforts at the Association of Southeast Asian Nations (ASEAN) Business and Investment Summit 2020, which is part of the 37th ASEAN Summit.
In a video message, Prayut also stressed the importance in promoting inclusive growth, as well as supporting ASEAN's core objectives towards narrowing the development gap and achieving the Sustainable Development Goals or SDGs.
Prayut also proposed the "Three New" concepts for Friday's summit.
Firstly, promoting "New Economic Models" that seek to thrive in balance between economic growth, technological advancement, social equality and environmental sustainability, Prayut said in his video message.
Secondly, exploring the "New Engine of Growth" by utilizing science, technology and innovation to maximize the strength of ASEAN economy, as well as enhancing the capacity of Small Medium Enterprises (SMEs) in ASEAN and the development of a financial facility to support them.
Last but not least, building a "New Economic Ecosystem" through the development of digital infrastructure accessible for both small businesses and individuals, as well as promoting comprehensive digital trade connectivity to support a full digital integration towards becoming "Digital ASEAN," Prayut said.
The ASEAN Business and Investment Summit is an annual event organized by the ASEAN Business Advisory Council (ASEAN-BAC) at the sidelines of the ASEAN Summit, as a platform for dialogue between leaders from ASEAN, dialogue partners, and business sector on the ways forward for economic development in ASEAN.
Vietnam chairs the ASEAN Summit 2020.