วันพฤหัสบดีที่ 17 พฤศจิกายน 2565
​Opening Keynote Address APEC CEO Summit 2022
​17 November 2022, Athenee Crystal Hall, The Athenee Hotel
Khun Poj Aramwattananont - 2022 CEO Summit Chair,
Sanan Angubolkul - Chairman of the Joint Standing Committee on Commerce,
Industry and Banking, Leaders of the business community,
Distinguished participants, Ladies and Gentlemen,
It is my pleasure to be with you all today at the 2022 APEC CEO Summit.
As one of region’s most prominent gatherings of the private sector, the return of physical CEO Summit sends a positive signal for the Asia-Pacific. The packed venue today reflects the region’s reality that we are fully back in business after years of disruptions. This return also provides an opportunity for us to reconnect, nurture personal contacts and foster cooperation.
As the world gradually reconnects in the post-COVID-19 era, Thailand is steering APEC towards an ambitious, forward-looking agenda that takes into account today’s rapidly changing economy: new trade and investment narratives, rapid digital transformation, the need to reconnect supply chains and travel, and the global sustainability agenda, which is captured in this year’s APEC theme of Open. Connect. Balance.
Under this theme, APEC’s priorities are guided by the Bio-Circular-Green (BCG) Economy that Thailand introduced as a recovery strategy from COVID-19 and a blueprint for long-term growth that is more balanced, sustainable and inclusive. The BCG Economy synergises bio-, circular and green economic approaches, utilising new technologies and innovation to create value, increase resource efficiency and promote environmental sustainability.
The Bio-Economy involves the production of renewable biological resources and bio-based materials and converting them into value-added products using technology and innovation. The Circular Economy envisages a regenerative production-consumption system where product, service and system design choices enable the elimination of waste and pollution while keeping existing materials in use. The Green Economy promotes responsible practices and sustainable business models that generate profits in tandem with social and environmental sustainability.
These three approaches are not new, but what sets the BCG Economy concept apart is how it recognises that the various challenges we face are crosscutting and interconnected, and therefore, our solutions cannot be siloed. For this reason, the BCG Economy underlines and advocates the integration of these approaches to maximise their multiplying effect and address their trade-offs.
On our path towards sustainable, resilient and inclusive growth, the role of the private sector is indispensable. I would like to take this opportunity to thank ABAC for their invaluable contribution in driving forward Thailand’s host year priorities. Private sector collaboration is integral to the APEC process and we count on the business perspective and support in implementing specific areas of cooperation. Going forward, there are three areas that I believe government and business can work strongly together.
First is on promoting sustainability. Today, we face unprecedented environmental challenges. We are seeing more frequent and severe storms and droughts, rising temperature and sea-levels, worsening air quality and loss of biodiversity, which affect our livelihood. For the region to grow in the long-term, we need to ensure that growth is sustainable.
The temporary halt in cross-border travel and tourism during COVID-19 gave us a preview of how our nature can recover and flourish if treated with care and left untouched. However, COVID-19 has also forced us to temporarily put the safety of our people ahead of our planet. We see rising intensity in plastic use in many industries, especially in the medical and food industries.
To ensure balanced and inclusive growth, we have made sustainability central to Thailand’s APEC priority this year. Hence our commitment to utilising the BCG Economy to advance long-term resilient economic growth in tandem with comprehensively ensuring environmental sustainability, while offering a viable way for businesses to be profitable.
There are a number of steps we can work strongly together to safeguard the environment and develop more sustainable ways of doing business. Strong collaboration and commitment from all sectors, in particular Public-Private-Partnership is key to achieving a sustainable and inclusive future. We have to change our actions now for a better future.
Together we can build on our rich biodiversity through innovations and technology, maximise the use of our precious resources with a view towards achieving zero waste in the production process. Most importantly, businesses can work towards environmental sustainability by harnessing innovative biotechnology in our agricultural and industrial productions. These applications are also in line with Responsible Business Conduct (RBC) and Environmental, Social and Governance (ESG) practices.
In pursuing this demanding and comprehensive transition towards a sustainable economy, we are making sure that there is a conducive business environment necessary for private sectors to promote the reduction of waste and emissions, greener trade and investment, innovations that support transition to low carbon economy while at the same time ensuring the necessary human resource development.
Sustainable and green financing is crucial to our efforts. The recent APEC Finance Ministers’ Meeting in October emphasised the importance of sustainable finance. In this regard, the private sector can play a key role in realising market based sustainable finance mechanisms, innovative financing instruments, and emerging technologies to support the alignment of financial flows towards a greener economy. We will continue our work to build a financial ecosystem that enables both government and private sector to be able to work towards reaching our sustainability objectives.
For Thailand, on our path towards sustainability, we are transitioning to clean energy to achieve carbon neutrality by 2050 and net zero gas emissions in or before 2065. In particular, Thailand is transitioning into the EV industry and is building its EV ecosystem. Thailand aspires to be one of the world’s biggest EV production bases in the near future. Financial and technical cooperation, as well as knowledge sharing, technology dissemination and capacity building remain fundamental to making such progress. We look forward to foster cooperation with you in this area.
The second area of collaboration that we can work together is inclusive growth. In line with the BCG Economy that prompts us to look beyond pursuing profit maximisation, and focus on a more balanced, inclusive and sustainable way of doing business, we must ensure that we leave no one behind on our path of development. We need to ensure the benefits of this growth are felt by all levels within our region.
It is incumbent upon us to ensure that everyone can benefit from economic growth and business activities. To be able to do so, we need to equip them with the right skill sets, expand opportunities for employment and provide an enabling environment for entrepreneurship.
Our work in APEC ensures that necessary structural reform and appropriate measures are in place to provide fiscal incentives to promote quality investment and address chokepoints for businesses. Such measures include, reform of domestic regulations, Business Enabling Environment, assistance to MSMEs and those with untapped economic potential. This will enable responsible business conduct, as well as facilitate access to sustainable financing facilities, digital technology and other enablers.
We also have to look after our MSMEs, which make up more than 98 percent of our region’s businesses and represent between 40-60 percent of GDP in most APEC economies. This being the case, we look forward to cooperating with you all to enable our MSMEs to be more competitive, innovative and increase their access to more markets and financing.
Women and youth also have significant roles to play in our economic activities, particularly in promoting sustainable and inclusive growth. Therefore, we are committed to mainstreaming gender in our policy making processes. We will continue to advance women empowerment and promote their meaningful participation in the economy. Youth represents our future; therefore, we need to ensure that their voices are heard. A few days ago, I received the Voices Declaration from the APEC Voices of the Future that engaged youth from APEC economies. Our youth sent a key message on the need to accelerate the transition to sustainability and protect the planet for our future generations.
The third area that governments and businesses can work together is on digitalisation. The digital economy is a new frontier for job creation and growth in our region, therefore APEC has made digitalisation a priority this year. Effective digital transformation offers enormous opportunities for businesses in the region and beyond. The future of our region will depend on us working together to embrace the potential from digital transformation, which will be a significant economic boost as we emerge from the pandemic and will contribute to the region’s long-term development.
This year we have laid the groundwork for the region to undertake appropriate structural reforms, advance work promoting digital trade transformation and connectivity, and accelerate the implementation of the APEC Internet Digital Economy Roadmap. Nevertheless, more remains to be done. We look forward to further engaging with the private sector to bridge the digital divide, be it through developing awareness and digital literacy, working towards capacity building, and promotion of digital skills to build workforce capacity in the digital age.
On our part, Thailand is keeping up with the rapid developments of the digital sector and undergoing the necessary structural reforms to enable faster and fairer digital transformation. 26. The digital economy currently accounts for 14.1% of Thailand’s GDP. According to the Speedtest Global Index, Thailand has one of the world’s five best internet facilities. Riding this trend, we foresee digital business constituting 30% of the GDP by 2030.
Thailand is excited to engage with you and welcomes more investment and skilled and advanced workforce in the digital industries. We are promoting the digital industry through tax and non-tax incentives, with a focus on software development, digital infrastructure and digital ecosystem supported business.
To encourage foreign talents to relocate to Thailand, we have recently introduced a ten-year Long-Term Resident visa scheme with privileges, especially those with digital talents. 29. Additionally, Thailand has established the EECd, a new digital innovation zone, as part of the Eastern Economic Corridor (EEC). It is a regional digital and innovation hub where investors and digital innovators can partner and support the growth of innovative ecosystem and immersion programs.
Ladies and Gentlemen, What I have just outlined above is the direction Thailand believes the region, indeed the world, needs to move towards if we are to recovery sustainably from COVID-19 and achieve long-term growth that is more balanced, sustainable and inclusive.
To bring all these elements together in a comprehensive and integrated manner, Thailand has proposed for the APEC Leaders endorsement later this week the Bangkok Goals on the BCG Economy. This leaders’ level document will help chart the course for APEC to achieve its sustainability objectives, laying out goals on supporting climate change efforts, progressing sustainable trade and investment, advancing environmental conservation and improving resource efficiency towards zero waste.
Whether or not we succeed will of course also depend upon the support of the private sector. Indeed, a strong partnership between governments and businesses is crucial for our region to successfully move forward and grow together, leaving no one behind. While the government can continue to undertake measures towards effective structural reforms that will enable an ecosystem conducive to economic growth, it is ultimately the determination, resilience and creativity of the private sector that will drive the economic prosperity of APEC.
It has been a pleasure to reflect on the state of our region with you this morning. As we look to the future, let us join hands and work together to further our partnerships and transform our aspirations into reality.
Thank you.