Macroeconomics/APEC CEO Summit

Chatrudee Theparat

PM urged APEC CEO summit to develop for inclusive growth

Prime Minister Prayut Chan-o-cha urged private sector in Asia Pacific Economic Cooperation (APEC) to collaborate the government to promote for inclusive growth and digitalization.

Gen Prayut yesterday presided over the opening ceremony of the APEC CEO Summit 2022 to call private sector to collaborate the government to promote for inclusive growth and transform their industry to digital. APEC CEO Summit organized by APEC Business Advisory Council (ABAC)

Gen Prayut told APEC CEO Summit that the APEC is one the largest collaboration in the region, the meeting could be organized as it is the first in person after four years postponement due to pandemic showed positive development in Asia-Pacific region, as well as the region is ready to rehabilitate and reconnect the cooperation.

“Partnership between the public and private sector are keys to building inclusive growth and sustainable development.”

Thailand is focusing on sustainable development under the bio-circular-green (BCG) economy model which is the national agenda to rehabilitate the economy post-pandemic.

He mentioned three important keys including the challenge from environmental problems and global warming, the member should focus on sustainability by promoting environmentally friendly businesses. BCG is planned to drive the for inclusive growth and more resilient in long term.

The government promotes Thai private sector to reduce carbon, investment on innovation, and human resource development.

Thailand aims to achieve neutral carbon in 2050 and net zero greenhouse gas emission in 2065 while the development appropriate environment to transform automotive industry to electrical vehicles.

The second key is inclusive growth, APEC members agreed to restructuring regulations, to reduce obstacles for doing businesses, de-regulations and building better climate to draw investment, as well as assistance measures to small and medium enterprises such as the support them to access to loans.

Gen Prayut also mentioned to promote for gender equality.

The third is the digitalization because it is the key to upgrade regional development, as well the key to drive the economy to recover in long term.

The APEC CEO Summit came ahead of the APEC leader meeting which will be organized on Friday (November 18) with economic recovery and sustainable growth high on agenda.
APEC is a regional economic forum established in 1989 to leverage the growing independence of the Asia-Pacific with nearly 40% of the world population, its 21 members economic account for about half of global trade and over 60% of the world’s total gross domestic product.