In his opening remarks at the Vietnam Corporate Sustainability Forum 2015, ASEAN General Secretary Le Luong Minh, stressed the role of business in building a sustainable ASEAN economic community, adding that through social responsibilities, businesses could contribute to and enhance sustainable development, social welfare, social equality and environment sustainability.
Many challenges
After years of impressive and sustained growth, ASEAN has reached a new stage of development. As a collective outfit, ASEAN is now the 3rd largest economy in Asia and the 7th largest in the world, projected to be the 5th largest by 2030 and the 4th largest by 2050. In fact, it has been the fastest growing economy in Asia after China for the past ten years, with a combined 2014 GDP of approximately US$2.8 trillion and a large consumer base of 625 million.
Yet, the region is now at a crossroad. Its continued economic progress cannot be taken for granted. While peace, stability and security is re-emerging as a fundamental concern, ASEAN is facing existing and emerging challenges vastly different from a generation ago.
According to ASEAN General Secretary Le Luong Minh, ASEAN is facing many challenges as: the impacts of climate change, natural disasters and environmental degradation; Social inequalities and disparities as well as poverty and development gaps within and among ASEAN Member States.
First of all, the impacts of climate change, natural disasters and environmental degradationhave far reaching implications not only on economies but on the very lives of peoples. For ASEAN, the stakes are high. The growing frequency and severity of natural disasters is exacting a tremendous toll on economic, social, cultural, physical, and environmental capital of the region’s cities and communities. For natural disasters alone, as a disaster-prone region, ASEAN incurs enormous losses of lives and properties every year.
He added, over the years, these natural resources have been increasingly under threat. Fast-rising population and changing demographics, rapid economic growth, combined with the existing and region-wide social disparities among and within the ASEAN countries have exerted daunting pressures and have brought along various environmental issues. They have also led to increased consumption of resources and generation of waste. Despite abundant natural resources, ASEAN is facing an enormous challenge in keeping a delicate balance between environmental sustainability and economic development.
Besides, social inequalities and disparities as well as poverty and development gaps within and among ASEAN Member States remain a continuing challenge, putting pressure on governments to provide more opportunities, more access to education, capital and other resources to the peoples. As ASEAN has forged on with regional economic integration efforts, as a people-oriented, people-centred Community, it has to ensure that this economic growth benefits all of its nearly 625 million ASEAN people. While there has been uneven progress across sub-regions, countries and targets, the ASEAN region as a whole has shown remarkable progress in the attainment of the Millennium Development Goals.
Roles of the business sector
To resolve challenges, aside from poverty alleviation initiatives and social protection measures, have been focusing on strengthening the capacities and access of small and medium enterprises in the region, especially those led by women and youth entrepreneurs.
Between 51-97 percent of jobs in ASEAN are created by SMEs. That translates to more employment and greater opportunities for our peoples. Aside from direct economic benefits, social entrepreneurship can be a potential source of solutions to address societal needs, alongside efforts by the government, private and charity sectors. Social enterprises harness the power of the market to tackle social and environmental problems and contribute to narrowing the gap in the region's income disparity. ASEAN’s business community can assist and make enormous contributions to SMEs and social entrepreneurs which are the backbone of most of the economies in ASEAN. Providing technical assistance, sharing knowledge and good practices, as well as transferring technologies and giving them more access to financing and the regional value chains can be game-changing equalisers to further the talent, creativity and potential of entrepreneurs.
“While 2015 is a significant milestone, the work of building the ASEAN Community remains a work in progress. The inclusive, sustained and equitable economic growth envisioned by ASEAN by 2015 and beyond can only be manifested if the ASEAN peoples remain central in this process”, said Le Luong Minh.
“The private sector and business community in the region, through corporate social responsibility have been and will be able to contribute to the process of building and strengthening the ASEAN Community, especially in the areas of human development, social welfare and protection, promotion of social justice and rights, ensuring environmental sustainability. More than philanthropy, there remains many opportunities for businesses to contribute positively and substantially, and through sincere corporate values and principles, make a meaningful difference in the lives of the ASEAN peoples and the communities,” he added.
Thu Ha
Vietnamese
