Hanoi (VNA) - The ASEANBusiness and Investment Summit 2020, with the theme “Digital ASEAN: Sustainableand Inclusive”, was held in Hanoi on November 13 as part of the 37th ASEANSummit and related meetings.

The summit focused on the importance of Industry4.0 in stimulating growth, trade, and investment, as well as settling theconsequences of COVID-19 and other challenges.

The agenda covered ASEAN’s economic outlook, ESG(environmental, social and governance) investment, technology and the future ofjobs in ASEAN, and a resilient ASEAN with sustainable and inclusive growth.

Chairman of the Vietnam Chamber of Commerce andIndustry (VCCI) Vu Tien Loc said the pandemic, climate change, trade tensions,digital transformation, Industry 4.0, and integration are exposing humankind tounprecedented challenges but also opportunities.

The coronavirus drove most economies in theregion and around the world into recession, he noted, adding that it is aglobal healthcare and economic crisis to which solutions should not be limited tothe boundaries of a single country.

The twin target of combating the pandemic andrecovering growth requires coordination among countries as well as jointefforts from the business community, people, and government agencies, Loc wenton.

Cooperation between governments and enterpriseshas never been as necessary as now, and public-private partnerships are key toall countries in overcoming the crisis, he added.

Speaking via videoconference, Malaysian PrimeMinister Tan Sri Muhyiddin Yassin said COVID-19 generated unprecedentedchallenges, and policymaking has changed to adapt to its effects.

Suitable policies should be issued and mechanismsmust be sustainable and inclusive to ensure that all segments of the economy arehighly resilient, he said./.