 Well, very good morning to all of you and welcome to this press conference with the co-chairs of the World Economic Forum on ASEAN 2018, which this year is being held under the theme ASEAN 4.0 Entrepreneurship and the Fourth Industrial Revolution. The purpose of this press conference is to give you an opportunity to hear firsthand from our six co-chairs about some of the priorities that they are looking to feature and highlight in this meeting. We choose our co-chairs every year. We look for high-profile individuals with a really strong passion about Southeast Asia, the challenges and the issues that the region is facing, and a strong commitment to raising awareness around these issues and trying to stimulate positive action in addressing and making a difference on these priorities. So I'm going to give each of them, in turn, an opportunity to share with you some of the priorities that they feel very strongly about in the ASEAN region, and also to share what they hope this summit can do to make a contribution in addressing those challenges. We don't have very long, so they won't have very much time to share their thoughts, but we will leave a little bit of time at the end for you to ask questions of them. I'm going to go in alphabetical order. So let me start with Ann Birgit Albregson in the middle. Ann works for an organisation focused on social inclusion, gender equality, children and youth. It's called Plan International, and Ann is the CEO. Thank you very much, Dustin, and thanks to everybody. So Plan International is obviously delighted to be given this opportunity and platform to come here to the ASEAN region and shine a light on social inclusion with business leaders and political leaders in the region. The theme of this particular forum resonates well with our constituency, young female entrepreneurs. Young female entrepreneurs in parts of ASEAN that don't necessarily see the day of light here. We work with young migrant women that are given skills and opportunities to go into enterprise, and we really want to talk with participants here about the lack of financing for young female entrepreneurs. Another theme here, of course, is the digital economy. What we're seeing with the digital economy and as it grows is that the great strides that the ASEAN countries have made in closing the gender gap is actually widening again. We are seeing that women have less access to the internet, less access to mobile phones. Young girls and women have less skills to enter the technology sector. Generally in technology, we're seeing only 10% of the employees are young women, and they're certainly not driving up the ladder in companies. We're seeing only a third of corporate leadership across the ASEAN region are women. So there are lots of gender gaps that we will help shine a light on. Finally, we'll also be looking at issues of what are the underlying structural issues that are making this happen. It really is about social norms. It's about the fact that women are still expected to take care of the home. And young women today simply can't see themselves in tech, in industry, in banking in higher positions. So let me finish by saying that fundamentally we need a new paradigm for leadership in ASEAN. Young girls and women cannot be what they cannot see. So we need to give them better role models and who better than the two women that I have on the panel with me from Korea and Indonesia. Thank you. And thank you very much. Now I'd like to ask Mr. Minister Wen Man Hong, who is the Acting Minister for Information and Communications Technologies here in Vietnam, Minister. Thank you, Rastin, and good morning. And the topic this time, the forum on ASEAN, very interesting. The technology management, the digital ASEAN, the force, the industrial revolution, and the startups business. I think that is a good chance for all of us to share the stories of the case study, experience, and especially the new ideas, new initiatives for ASEAN. I'm coming to this event with some initiative ideas for one ASEAN. The first one is to make ASEAN flat. We call it flat ASEAN with no roaming. The roaming charge is low as the local charge. So that every people can travel like home. The second initiative is to set up the ASEAN ICT University because for the first industrial revolution, the most important thing is the skins for the future, the ICT skins. And the last one is ASEAN, the Cyber Security Information and Trading Center. I think that our life depends very much on the internet. Our prosperity also depends on the internet, but the internet is not safe. So the most important thing for us in the future is the cybersecurity. And these initiatives are open for this further discussion. And thank you. Moving to our third co-chair, I'd like to invite Kang Kyung-hwa, who is the Minister of Foreign Affairs of the Republic of Korea, to share your thoughts about the summit ahead. Well, thank you very much, Justin. I'm very happy to be here with my distinguished co-chairs. As Foreign Minister of Korea, I'm here because of our policy to upgrade Korea's relations with ASEAN to a whole new level in terms of co-prosperity and peace, and all based upon our joint commitment to the people, that the collaboration going forward will have to benefit the people in the end who are ultimate judges of all that we do. I'm also here because of this focus on the fourth industrial revolution. As you may know, Korea has one of the most wired countries in the world as a bit of a lead experience in dealing with the challenges of the digital transformation that the fourth industrial revolution has triggered. So to explore ideas as we go forward towards co-prosperity and creating and sustaining the growth momentum in this age of the fourth industrial revolution will be something that I will be looking into in discussions and in the forum sessions. But of course, we cannot have prosperity and sustained growth without peace. And as you know, peace in East Asia has had to deal with a vexing problem over the past seven decades because of the situation on the Korean Peninsula. The situation on the Korean Peninsula is one of a frozen conflict. The 1953 armistice has continued to define the relations between South and North Korea for the past seven decades. The armistice had stopped the guns, but has yet to be replaced by a full peace treaty that will then define the legal relations between South and North Korea. Furthermore, on top of that, over the past three decades, North Korea's nuclear and missile development has advanced to become a serious, perhaps the gravest security threat, not just on the Korean Peninsula and the region, but the entire global community. But now, through extensive diplomatic endeavors over the past year under the new government of President Moon Jae-in, we have a very real chance to achieve North Korea's complete denuclearization and to establish lasting peace on the Korean Peninsula. As you may know, South and North Korea have had two summits so far this year and also a first-ever US North Korea summit, as you must know, here in Singapore in June. And in these summits, the top leadership of the three sides have agreed to work towards complete denuclearization on the Korean Peninsula and also to work towards to start a peace process with the goal of achieving a peace treaty and a peace regime that will replace the current armistice regime. And the importance of these agreements is that they come at the top leadership level, not like the previous agreements on the nuclear issue that was worked through the working levels and ministerial levels. So we do have a historic opportunity to realize lasting peace and complete denuclearization on the Korean Peninsula. At this point, we are preparing for another summit meeting between the South and North Korean leaders in Pyongyang next week. And certainly that will be another significant step forward towards our goal. Along this journey, ASEAN and its member states have been hugely supportive. And their continued support will be instrumental going forward. We must maintain the unity of the message to North Korea. And that message is that they need to deliver on their denuclearization commitment. And they need to continue to work with South Korea in good faith to establish lasting peace on the Korean Peninsula. And if it does, it will be brought in to this community of peace and co-prosperity that links Southeast Asia and Northeast Asia. So that will be the key messages that I will want to share throughout the next two days. And lastly, I would just like to thank WEF and the government of Vietnam for bringing us together to explore the challenges of the Fourth Industrial Revolution and how our countries and societies may take charge of this digital transformation that the Fourth Industrial Revolution has triggered in ways that benefit our peoples. So thank you. And if you look at the program, you will see that there are a number of sessions focused on trying to understand the evolving geopolitical context in the region. And the minister will be sharing her views further in some of those sessions. The fourth co-chair I'd like to introduce is Nazir Razak, who is the chairman of CIMB Group, a large financial services business based in Malaysia. Nazir. Thank you, Justin. I would like to see WEF 2018 make a big difference in influencing the direction of ASEAN. In particular, as I wrote in the Straits Times last week, we need to place the Fourth Industrial Revolution as well as its subsets, digital and entrepreneurship, at the forefront of the ASEAN agenda. Today, the ASEAN Economic Community Blueprint of 2025 is essentially about meeting the original target set in 2007. The world, the economic world was a very different place in 2007. The challenges today are very, very different. I therefore feel that this is a great opportunity to fully understand the challenges, the disruption that's coming with the Fourth Industrial Revolution, and relook at ASEAN's plans for economic integration. In particular, I think the 4.0 challenge means that we have to place data movement, we have to place talent movement, and we have to place data, human capital, as well as economic capital, how they move across countries to be efficient and frictionless as possible. That is the key, I think, for the future, and I'm urging that ASEAN relooks at its current plans. Finally, I'd also like us to discuss the side effects of the Fourth Industrial Revolution, the risk of increasing inequality, and of course, in particular, gender inequality, as Anne touched on earlier. Thank you. Thank you, Nazir. Our fifth co-chair I'm going to call on is Kevin Sneeder at the end. He is the global managing partner of McKinsey and Company, a management consulting group. Thanks, Justin. Industrial revolutions so far have brought both opportunity and challenge. And so what I'm hoping that we'll see over the next few days is a discussion around three, I believe, critical factors that ASEAN should and can address. The first is digital productivity. That's at the heart of this Fourth Industrial Revolution. And there are two elements where I think, in particular, ASEAN has work to do. One is access, access to bandwidth for consumers and businesses alike. It's the foundation of the digital productivity that is going to determine the winners and losers in this Fourth Industrial Revolution. And the second part of it is, indeed, also scale. This is an industrial revolution that does actually leverage scale. If you look at the size of the businesses that are successful and the resources on which they draw, it's therefore ever more important for ASEAN to leverage its scale from across the nations that make up this community. The second thing which I think will be critical is a reinvented labor force. And that, I believe, has several elements. The Industrial Revolution will bring with it automation, new ways of doing old jobs. Those old jobs aren't necessarily going to disappear, but they are going to be fundamentally changed. In fact, we believe that half of all the world's jobs will be changed. They'll be automated or improved in some way. And it's critical that ASEAN has a labor force that is able to adjust to that automation. The second element of a reinvented labor force is it's no longer going to be possible to get by with large numbers of people excluded from that workforce. We can talk about digital, we can talk about technology. The biggest single lever to drive performance in ASEAN will be to get women into the workforce at scale. So inclusion, I believe, is a huge part of the agenda of the Fourth Industrial Revolution. And the third element of that agenda beyond digital and the labor force is infrastructure itself. Only Latin America invests less than ASEAN in terms of infrastructure. ASEAN invests about 3.5% of GDP. That is a half the level of higher income countries across the globe, and a third of the level of, for example, China. So there is a real call to action to ensure that you are investing in the infrastructure that will make for success. One last thought, we're actually talking about some of the most successful countries in the world, and sometimes we forget that. But if you look at 71 emerging markets and how they performed over 50 years, eight of the most successful out of the 18 that have outperformed the United States, eight are to be found in ASEAN. So eight of the 10 ASEAN members have actually displayed very creditable economic performance. There's real belief that that performance gives a foundation for future success, but it does require moving on the digital productivity, the labor force, and the infrastructure needed to underpin it. Kevin, thank you very much. And then the final co-chair to call upon is Srimulyani Indrawati, who is the Finance Minister of Indonesia. Thank you, Justin. My priority attending and co-chairing this World Economic Forum with the theme of ASEAN 4.0, Entrepreneurship, and the Fourth Industrial Revolution is really the core of many issues that we in ASEAN is also discussing. Indonesia is the largest economy in ASEAN, with the population of ASEAN more than 630 million, 400 million labor force, and for Indonesia, 250 million population with more than 100 million workforce. Mostly young generation. Kevin mentioned about the use is actually seeing the technology 4.0, industrial 4.0 is an exciting future. We see it as an opportunity. But of course, as a policymaker, we also understand in order for this Industrial Revolution and transformation to become an opportunity, equal opportunity for men, women, girls, boys, this need and require policy today that will prepare them to be able to not only using it, enjoying it, but they can adapt, innovate, create. And ASEAN in this case is actually a group of country that can show that the case of innovation and creativity is there. There are 10 unicorn company, mainly owned by very young generation of ASEAN. Indonesia have project to copy Trafaloka and many others which I think is really creating an excitement among young generation that technology and industrial transformation is an opportunity. So what we need to do and to discuss within ASEAN, so far the platform of integration through ASEAN economic community trade, investment as well as financial integration is already on their way. A lot of things still need to be done for this integration to create an equal opportunity. Kevin mentioned about each country need to address issue of education. And in Indonesia, this is really a big issue because we spend 20% of our budget for education just like Vietnam here, but the result a difference. And this will create an opportunity for a country in ASEAN to learn each other how we can design education is not only about money but what is the content. The second one is about labor force and labor policy. I think this is one of the most important on how the young generation is going to have an equal opportunity flexible labor market that allow them to actually reap the benefit of this technology and take the advantage of being young to actually explore. The third, which I as a finance minister discuss quite a lot about this industrial 4.0 is related to the public finance. How we are going to create a labor force which is flexible if you don't have social safety net. So the design of designing social safety net allowing population to have the confidence and safety net so that they are allowed to be flexible moving in and out in many of profession will really require. And many ASEAN country is still in the very early of designing the social safety net. And in order for us to build those sound and strong social safety net you need revenue. So taxation on the digital economy industrial 4.0 has been discussed quite widely in G20 and in IMF World Bank annual meeting and now here in the World Economic Forum in ASEAN. This is one of the issue that we are going to discuss. And I hope that with World Economic Forum we will be able to actually come with this awareness and understanding about what will it take for a country to get the benefit of this transformation. What kind of policy platform that need to be addressed and for ASEAN together as a group how we actually can reinforce the integration to create equal benefit for all the member country. I think this is a very timely, especially during the global economic uncertainty today in which protectionism as well as in what looking policy is becoming dominant. ASEAN can become an example of how together we can actually move faster and stronger. Thank you. Thank you very much Ibu Srin and all co-chairs. I think six very interesting perspectives, six sets of critical issues for ASEAN to work on for future prosperity but also I think mixed with a strong sense of optimism that ASEAN can address these and hopefully this summit can make a contribution. I'm going to open it up to the floor. Please keep your questions focused on the role that the co-chairs will be playing in the program. Yes, in the front here. Hi, good morning. My name is Kamarul from Metro Awanian, Malaysia. I have an assertion because I've been following Davos and also WF ASEAN. Especially early in January this year in Davos, the book co-authored between Professor Schwab and Nicholas shows that if we do not believe in the power of saying it, then it wouldn't be believed and if it don't be believed it wouldn't turn into policy and change. However in ASEAN especially, we look upon that integration more often than not refers to the bureaucracy and the political power but as we can see, even low-cost carriers like A Asia has flown and contributed more to integration arguably than the ASEAN's Keterit based in Jakarta. So my point especially to Ibu Sri and also Dr. Sri Nazir Azad is why are we still looking pretty much at empowering government and also political forces rather than looking at civil society and other non-state actors to integrate it especially the integration or partnership between civil society and also the business or commercial sector. Thank you because otherwise we look at what happened in Malaysia the GST tax has got to revamp. Yes, thank you. Thank you for the question. Let's, Sri Mulyani, I don't know if you have any views on? Well, I think if I frame it, it's not empowering bureaucracy to push forward the integration of ASEAN. The fact of the matter that ASEAN is, each of them is a sovereign state and that's why by integrating and forcing the bureaucracy to work together across their own boundary is actually try to educate them to accept that actually when we have an integration the benefit actually is much larger than you are actually divining on your own. If you're not addressing the issue of political party and bureaucracy they can become a real obstacles because they have the constitution, they have the law that can create lives really difficult. I've been in this position twice so I really understand that for them to be forced in the discipline of integrating, interacting with other countries bureaucracy then interact with the private sector especially with the civil society and private sector. Their world is gonna be opening. They can always discuss among themselves. We discuss about liberalization on a financial sector. The discussion is always what should I protect in my economy first rather than seeing what is the opportunity of being together as 10. But with the meeting series of meeting discussing again and again and interacting with the private sector, NGO and even meeting with the younger generation I think they can have a vision as well as a framework of policy that can be opening up and that really can be accelerated. So the discussion about tax policy in each country you talk about income tax differences, value added tax or in this case GST we are going to discuss about if people are freely move across the country and also merchandise, good and services also move freely. They create a certain discipline for a certain country or a country bureaucracy to say that, hey, if your policy is totally outlier you are not going to get the benefit of this integration. And that's in my experience in Indonesia give a sense of a certain direction and discipline of not adopting bad policy and try to maintain a good policy. I think that's very important. I hope that that's addressing your issue. Is there anything to add on the integration process? Part of one of our proposals is to see the transformation of the ASEAN Secretary into more of a platform organization and integral to that is how the private sector can collaborate and really be more involved in originating ideas and also designing policies for regional integration. Other questions, we can have one here at the front and then we'll move to the back. Chris with German newspaper, Frankfurter Argumane Zeitung. I have a question for Mr. Roszak as we talk about in the end of the day, economic growth in ASEAN. What is your perspective on the recent political changes in your country? Will they help and boost economic growth? Thank you. I think it's a very interesting question but I think we'll limit the questions during this press conference just to the roles happening during the program. So maybe afterwards you can discuss that question further. Question at the back. My name is Vũ Hân from Thang Nien newspaper, yours newspaper, my question to Mr. Nguyễn Mạc Hùng. Previously Vietnam didn't have opportunity to participate in the Industrial Revolution but in this 4.0 Industrial Revolution, Vietnam had opportunity to take part from the beginning. So whether with a country, with low level of technology development in Vietnam, so whether we can catch up with other countries to gain the benefit of the 4.0 Industrial Revolution. Thank you. When the new revolution coming or happens, the future doesn't depend much on the past. This is something like a breaking point. The future is not continuous of the past. So it means that developing countries, having not too much the flexibility of the previous revolution, means that having less burden. So they can move faster. The new, the forced Industrial Revolution is not too much technology revolution. It's more policy revolution. The developing country having not so robust, not so solid, the legal framework could be more flexible to take the new, the business model. The new policy to adapt, to accept the new technology. So I think that the developing country have more chance. Thank you. We have time for one more question. We'll go for the hand at the back there. Hi, this is for Minister Injavati. This forum is happening at a time of turmoil in emerging economies and Indonesia in particular is feeling the pinch. What do you think ASEAN countries can do to protect their domestic markets and what is Indonesia in particular doing to support the markets? Thank you. Well, the global economic environment changing very rapidly in 2018 that can be seen from the increasing interest rate by federal reserve normalization, monetary policy in advanced country that really create the cost of borrowing is becoming increased for many countries. So we also see at the same time the policy on the trade and the fiscal policy in the United States create a sentiment and for many developing country and emerging country they really need to prepare for this changing environment. How they need to change? Of course first whether they have external vulnerability, whether this is in the form of debt, especially foreign debt, whether this is in the form of their balance of payment, trade or current account deficit and whether they are able to attract more capital when there is really a sentiment against them. So for each country they have a difference and that's why the policy response should be also different. But most importantly the same theme you really need to protect yourself from the external vulnerability because this is the source of the dynamic or the challenge for your economy. For Indonesia we are actually having a current account deficit up to 3% of GDP. In a normal situation when the environment globally is actually normal meaning that the liquidity as well as capital flow is normal this can be easily financed just like happened in 2016 and 17. In the 2018 the dynamic is different and that's why we need to change the policy quite rapidly. First to protect and reduce the deficit whether this is in the current account as well as in our own budget deficit. Fiscal consolidation has been adopted in the last three years and I think on the fiscal side we are good. We need to build even more industry that can actually produce those product which is imported and that will take time and that's why adjustment can be short term it can also be in the long run. In the short term you just try to protect of the shock. In the long run you have to build your competitiveness. Again I think this theme on ASEAN 4.0 I think again and again it's showing that Indonesia can actually become a good member of ASEAN driving the integration because it can protect the member country even more when you are integrated. If you are on your own you only in Indonesia case may be big enough 250 million population with the young generation and middle class growing but for other ASEAN country may be much smaller and being integrated meaning that you have 630 million population with strong middle class and this can create a cushion from external shock. So I think the message also in this case in addition to your own domestic policy and protecting your economy facing this kind of shock you have to do even integrating even more within the ASEAN. It's don't follow the instinct which is sometimes even damaging that you try to close and becoming very inward. It's actually crippling even more getting the ability to withstand any shock and managing any economy you cannot always see the economy is moving smooth, linear upward movement is not. Economy globally is always have a challenge. Sometimes shock because of commodity, because of war, geopolitical tension, because of natural disaster. So you have to be really ready and prepare for all those kind of shock. So if you are paying attention to what matters for your population or for your people. Younger generation deserve good education, girls, the woman need to be actually have equal opportunity. You have to have a sound microeconomic policy. You have to be transparent, accountable to be credible. That is really matters especially when you are facing with a shock. Thank you very much the press conference to a close because we have run over time but thank you very much for joining us this morning for your questions and I'm sure that at various moments during the rest of the summit you'll have opportunities to connect to the co-chairs to explore ideas in further depth. Thank you.