ASEAN Business and Investment Summit 2021

Brunei Darussalam as the Chair of ASEAN for 2021, focuses on three strategic thrusts namely recovery, to help restore ASEAN's pre-pandemic economic growth and development; digitalisation, to transform ASEAN into a digitally-enabled regional economy; and sustainability, to promote an equitable, inclusive and environmentally-sustainable development. Yang Berhormat Dato Seri Setia Doctor Awang Haji Mohd. Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Second Minister of Finance and Economy as Chairman of Bank Islam Brunei Darussalam BIBD and Group of Companies stressed the matter during the ASEAN Business and Investment Summit 2021 ABIS held virtually by the ASEAN Business Advisory Council ABAC.

Yang Berhormat Dato elaborated on Brunei Darussalam's thirteen Priority Economic Deliverables PEDs for this year. One important PED under the recovery thrust is the ASEAN Investment Facilitation Framework AIFF which sets out the principles and actions to facilitate the inflow of investment into the region. It is envisaged that the framework can further improve the overall business ecosystem, streamline procedures and requirements and promote the use of single digital platforms for investment. Yang Berhormat also highlighted on the deliverables that focus on digitalisation which can help ASEAN to advance its digital transformation agenda and promote a more holistic and inclusive economic recovery. These include the work plan on the implementation of the newly ratified ASEAN Agreement on E-Commerce 2021-2025; the Regional Action Plan on the Implementation of the Norms of Responsible State Behaviour in Cyberspace; and the Bandar Seri Begawan Roadmap BSBR: An ASEAN Digital Transformation Agenda to Accelerate ASEAN's Economic Recovery and Digital Economy Integration.

Also touched upon was Brunei Darussalam's deliverables under the sustainability thrust, particularly on the Framework for Circular Economy for the ASEAN Economic Community AEC, which will pave ASEAN towards a sustainable, greener and low carbon economic growth. As Chairman of BIBD, Yang Berhormat focused on several key topics, including the alignment of Sustainable Development Goals with Maqasid Shariah, strategy and ASEAN's Inclusive Business. Also highlighted are BIBD's commitment through a development of the Sustainability Framework through three pillars namely; the Environmental Protection, Responsible Entrepreneurship, and Inclusive Social Impact, and also a target commitment of $2 billion by 2030.

Source: Radio Television Brunei