FORUM ON SUSTAINABLE INVESTMENT IN ASEAN
Concept Note and Programme
BackgroundThe unprecedented coronavirus disease (COVID-19) pandemic crisis in 2020 has broughtparallel disturbance to Southeast Asia’s long period of economic growth. Economic recovery
has been seen in 2021 although sustainability of the recovery remains uncertain dependingon many factors including containment of the pandemic and various policy supports. Theability to continue attracting and retaining investment will be crucial for the recovery of ASEAN
economies. This development also affects the capacity of countries in the world, including
ASEAN Member States (AMS), in achieving the 17 Sustainable Development Goals (SDGs)
by 2030, an initiative adopted by Leaders of 193 countries in the United Nations (UN) back in
September 2015 which provides for “a framework for shared action for people, planet andprosperity to be implemented by all countries and all stakeholders, acting in collaborativepartnership”.
As part of the regional efforts to address these challenges, ASEAN Leaders at the 37th ASEAN
Summit on 12 November 2020 adopted the ASEAN Comprehensive Recovery Framework(ACRF), which called for a consolidated and coordinated exit strategy from the crisis. Sustainability is one of the key themes across the priorities, initiatives and programmes of theACRF. The ACRF recognises that properly managed and implemented sustainable investment will improve economic and social resilience to future shocks. Pursuant to the ACRF
Implementation Plan, the ASEAN Coordinating Committee on Investment (CCI) is expected
to “Explore initiatives to promote investment that contributes to the sustainable development
goals, such as possible ASEAN Guidelines on Sustainable Investment.”
Furthermore, one of the initiatives under the 2016-2025 ASEAN Investment Work Programme,
as adopted by the ASEAN Economic Ministers (AEM)-19th ASEAN Investment Area (AIA)Council on 3 August 2016, the CCI is supposed to conduct policy dialogues on new areas andemerging issues in investment rulemaking like responsible business conduct and sustainable
development. It is intended to achieve the outcome of “responsive and proactive investment
policymaking in the region”.
Objectives
Pursuant to the ACRF, the main objective of the Forum is to promote sustainable andresponsible investment in ASEAN. This will support the recovery of ASEAN, build more
resilient economies, and contribute to achievement of SDGs.
Pursuant to the Investment Work Programme, as a sub-objective is to enhance analyticalsupport and technical capacity for investment policy making and addressing investment issues
in the region. Specifically, this will support the CCI in discussing, designing and implementing
policies that promote sustainable investment.
Arrangements
FormatThe Forum will be held virtually using Zoom platform on 4-5 November 2021 from 14:00 to17:00, Jakarta time (GMT +7) to be hosted by the ASEAN Secretariat.

Page 1 of 6

Participants
Invited participants include Members of the CCI, other relevant ASEAN bodies, otherinternational organisations, as well as representatitves from the private sector.
Programme:

14:00

14:10

(10”)

Thursday, 4 November 2021
CCI Chair: Opening Remarks
Ms. Hoang Thanh Tam, Director, Investment Promotion Division,
Foreign Investment Agency (FIA)Ministry of Planning and Investment, Viet Nam

14:10

14:20

(10”)

ASEAN Secretariat: ASEAN Integration in Investment and theImportance of Sustainable Investment
This session will provide overview of ASEAN’s work in achieving
free flow of investment and sustainable development, and themandate to discuss sustainable investment.
Speaker: Mr. Tan Tai Hiong, Head of Services and Investment
Division

14:20

14:45

(25”)

OECD: Investment and Sustainable Development in ASEAN
This session will provide an overarching picture of the linkages
between investment and sustainable development, in ASEAN andelsewhere. It will draw on the Policy Framework for Investment andthe experience of countries around the world gleaned from
Investment Policy Reviews. The OECD will provide guidance,
examples and comparative analysis on how well-crafted investment policies and promotion measures can support the SDGs.
Speaker: Dr. Stephen Thomsen, Head, Investment andSustainable Development Unitand Mr. Alexandre de Crombrugghe, Project Manager, Investment
Promotion and Facilitation

14:45

15:10(25”)

WEF: Sustainable Investment Policy and Practice Initiative
This session will share some of the main policies and measuresthat have been identified as enabling sustainable investment flows.
These policies and measures fall across five dimensions of theWorld Economic Forum’s Sustainable Investment Framework:
policies, promotion, facilitation, finance mobilisation, and development impact. These findings are the result of ongoing country
projects that work with investors and policymakers to identify andimplement sustainable investment policies and measures, as wellas an international advisory group of investment practitioners.
Findings have been captured in an Inventory of Concrete Measures
to Facilitate the Flow of Sustainable FDI: What? Why? How? thatPage 2 of 6

can serve as a technical resource to inform efforts at increasingsustainable investment flows.
Speaker: Dr. Matthew Stephenson, Policy and Community Lead,
International Trade and Investment, World Economic Forum andManager, Global Investment Policy and Practice Initiative.
15:10

15:35(25”)

AJC: Impact Investing in ASEAN
The session will discuss the essentials and latent potential ofimpact investing as a financing approach to accelerate realisationof the SDGs in ASEAN. Impact investing symbolises the ‘newnormal’ in its intentionality in creating and measuring societal
impact along with financial return, enabling to keep track of theSDGs progress. Impact investing is beyond mitigating risk andincorporating factors related to environment, society and governance (ESG). This session reveals the burgeoning state of theimpact investing market in ASEAN, capturing over $6 billion in2017-2019. Challenges and actor-specific recommendations inASEAN to further mobilise financial resources as part of the“Decade of Action” will also be highlighted.
Speaker: Dr. Aya Ono, Junior Programme Manager, Trade andInvestment Cluster, ASEAN Japan Centre

15:35

16:00(25”)

AKC: Enhancing ASEAN-Korea partnership through promoting
sustainable investment
In this session, AKC in cooperation with KOTRA will provide
Korea’s Foreign Investment Ombudmen and Aftercare services, inparticular in relation to the Foreign Investment Ombudsman andHome Doctors to settle grievance in relation to labour, tax, finance,accounting, law and construction sectors. It is envisaged thatForeign Investment Ombudsmen and Aftercare services will
support FDI attraction and contributes to the sustainable growh of
the Korean economy.
Speaker: Mr. Yeong Yeol Yoo, Specialist in International Finance,
Korea Foreign Investment Ombudsman System & Aftercare
Services, ASEAN Korea Centre

16:00

17:00

(60”)

5 AMS: Policies and Views on Sustainable Investment
In this session, each of the representative of 5 AMS will provide 10
minutes overview of the policies, initiatives, and/or views of theirrespective countries with regard to sustainable investment.

Page 3 of 6

AMS Speakers:
Brunei Darussalam:
Mr. Ariffin Haji Sulaiman, Assistant Head and Portfolio Lead for
Downstream and ICT, FDI Action Support Centre (FAST)
Cambodia:
Mr. Suon Sophal, Director of the Public Relations and Promotion ofPrivate Investment Department, Cambodia Investment BoardIndonesia:
Mr. Fajar Usman, Director of Regional and Multilateral
Cooperation, Ministry of Investment/Investment Coordinating
Board
Lao PDR:
Mr. Phonethavong Singhalath, Director, Investment Promotion
Department, Ministry of Planning and Investment
Malaysia:
Mr. Syed Mohd Faizal Syed Mohd Dardin, Director, Ministry ofInternational Trade and Industry (MITI)

14:00

14:20(20”)

Friday, 5 November 2021
OECD: FDI Qualities Initiative
In this session, the OECD will provide a deep dive discussion ofpolicies for improving FDI impacts on sustainable development outcomes, more particularly: productivity and innovation; employment,job quality and skills; gender equality; and low-carbon transition.
Participants will discuss challenges and opportunities for an appropriate policy mix in different country contexts to enhance positive
sustainability impacts of FDI.
Speaker: Mr. Martin Wermelinger, Head, FDI Qualities Initiative

14:20

14:40

(20”)

WEF: Sustainable Finance for ASEAN
In this session, the Sustainable Development Investment
Partnership (a joint collaboration between the World Economic
Forum and the OECD) will provide a high level overview of thecurrent state of sustainable finance and innovations and how thesemight relate to, and benefit, efforts in ASEAN. In particular, theintervention could touch on: (a) conditions for capital to flow into
sustainable investments – lessons learnt/best practices; (b) thecatalytic role of public-private collaboration to address financing
bottlenecks; (c) tools and frameworks to accelerate action onsustainable finance (e.g. country financing roadmaps, financing
sprints, innovation & technology); and (d) practical examples (e.g.
financing the energy transition & financing nature and biodiversity
in ASEAN).
Speaker: Ms. Nikki Kemp, ASEAN Hub Director,
Sustainable Development Investment Partnership
Page 4 of 614:40

15:00(20”)

UNESCAP: SDG General & Specific FDI Indicators
This session will conceptually introduce participants to a framework
developed by UN ESCAP to enable countries to better evaluate thesustainable development contribution of FDI at the project level.
The framework provides country customisable templates fordeveloping weighted general and sector-specific sustainability
indicators to assess a proposed FDI project against nationalsustainable development priorities and plans.
Speaker: Heather Taylor-Strauss, PhD, Economist,
Trade Investment and Innovation Division, UNESCAP15:00

16:00

(60”)

5 AMS: Policies and Views on Sustainable Investment
Continuing from similar session of the previous day, each of therepresentative of the other 5 AMS will provide 10 minutes overview
of the policies, initiatives, and/or views of their respective countries
with regard to sustainable investment.
AMS Speakers:
Myanmar:Ms. Phyu Hnin Wutyi, Director
Directorate of Investment and Company Administration, Ministry ofInvestment and Foreign Economic Relations
Philippines:
Ms. Sandra Marie S. Recolizado, Director
Investments Policy and Planning, Board of Investments
Singapore:Mr. Troy Ang, Assistant Director
ASEAN Division, Ministry of Trade and IndustryThailand:
Ms. Tanita Sirisup, Executive Director
International Affairs Bureau, Thailand Board of Investment
Viet Nam:
Mr. Nguyen Quang Long, Official
Foreign Investment Agency, Ministry of Planning and Investment

16:00

16:20

(20”)

OECD: Responsible Business Conduct
The session will provide an overview of how promoting andenabling RBC links with investment policies can help maximise thesustainable development potential of investment while minimise
environmental and social risks that may be associated withbusiness operations. The OECD will provide examples of recent
global trends and expectations for business operations in global
supply chains as related also to COVID-19 recovery, examples ofinternational and national RBC policies as well as examples of tools

Page 5 of 6that governments have employed to promote, incentivise andfacilitate RBC due diligence.
Speaker: Ms. Tihana Bule, Manager, Asia
OECD Centre for Responsible Business Conduct
16:20

17:00(40”)

Open Session: Towards Development of ASEAN Guidelines on
Sustainable Investment
This will be a final concluding session where each participatingorganisations will be invited to share their 5 minutes remarks on thenext step going forward for ASEAN, followed by open discussions
with the participants.
Moderator: ASEAN Secretariat

17:00

Closing Remarks

Page 6 of 6