His speech underlined the creation of a new growth to maintain the bloc’s dynamic development and competitiveness.

The 4th industrial revolution will create both opportunities and challenges for ASEAN.  Vietnam strives to be in the world’s top 10 providers of software and digital contents in 2020 with about 1 million people working in the IT sector.

“To maintain its dynamic growth and competitiveness, ASEAN can no longer depend on resources and young, unskillful labor force. It’s necessary to generate new momentum for renovation. ASEAN countries should reform business management and upgrade technology. I suggest the WEF ASEAN to organize a working group to study and give recommendations on education and training to promote startup spirit, build a startup market, and encourage businesses to invest in or buy ideas of startups," the cabinet leader said.

Vietnam is working toward sustainable growth by strengthening competitiveness and grasp opportunities from the 4th industrial revolution to improve production capacity and competitiveness, and advance on the global value chain.

The country is making every effort to build a constructive government, promote institutional reform, create favourable environment for enterprises and people, especially the youth, and uphold the startup spirit and dynamism of the nation, he said.

Later, PM Phuc and other ASEAN leaders were provided with a report on ASEAN development and integration by the WEF’s ASEAN regional strategic group.
There are 40 panels focusing on youth, technology and growth at the ongoing 26th WEF ASEAN on May 11-12 amidst ASEAN celebration of its 50th anniversary.ov

Source: vov.vn