Prime Minister proposed the “3 New” concept to strengthen the ASEAN economy

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Prime Minister General Prayut Chan-o-cha addressed through a video message at the ASEAN Business and Investment Summit 2020, which was part of the 37th ASEAN Summit.

He highlighted the significant role of technology and innovation in reinforcing COVID-19 recovery efforts and promoting inclusive growth, as well as supporting ASEAN’s core objectives towards narrowing the development gap and achieving the Sustainable Development Goals or SDGs.

The prime minister also proposed the “Three New” concept.
Firstly, promoting “New Economic Models” that seek to thrive in balance between economic growth, technological advancement, social equality and environmental sustainability.

Secondly, exploring the “New Engine of Growth” by utilising science, technology and innovation to maximise the strength of ASEAN economy, as well as enhancing the capacity of SMEs in ASEAN and the development of a financial facility to support them

Last but not least, building a “New Economic Ecosystem” through the development of digital infrastructure accessible for both small businesses and individuals, as well as promoting comprehensive digital trade connectivity to support a full digital integration towards becoming “Digital ASEAN”.

The ASEAN Business and Investment Summit is an annual event organised by the ASEAN Business Advisory Council (ASEAN-BAC) on the margins of the ASEAN Summit, as a platform for dialogue between Leaders from ASEAN, Dialogue Partners, and business sector on the ways forward for economic development in ASEAN.

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