 Distinguished participants, ladies and gentlemen, welcome to the opening ceremony of the 27th World Economic Forum's ASEAN Summit. ASEAN is today one of the world's fastest growing regions with more than 600 million people and is now also establishing a single market. This opening is divided into two segments. First, the opening ceremony, followed by a second half, the future of ASEAN in the era of the Fort Industrial Revolution, where leaders will share their perspectives on what the four IR means for their country, but also for ASEAN as a rich. I'm now pleased to introduce Professor Klaus Schwab, founder and executive chairman of the World Economic Forum. Professor Schwab strategically initiated the first ASEAN World Economic Forum Summit 27 years ago. The floor is yours, Professor. Your Excellency Ngo and Phong Chong, General Secretary of the Central Committee of the Communist Party of Vietnam, Your Excellency Ngo and So-and-Fuck, Prime Minister of Vietnam, esteemed heads of state, heads of government, deputy heads of state and deputy heads of government, Excellencies, and of course a very cordial welcome to all you here in the hall, to our members. Ladies and gentlemen, since 27th meeting of the World Economic Forum on ASEAN convenes under the theme ASEAN 4.0 Entrepreneurship and the Force Industrial Revolution, we are proud to have assembled more than 1,000 leaders from government, business, academia and civil society to discuss and shape the future of this region. For almost 30 years, we have had the honor of working together with the region, but this year is the most powerful ASEAN Summit we ever have organized. It shows the potential of the region which combined, represents 10 countries and forms one of the most powerful economic and I should add, potentially political forces in the world in a fragmented world today. We all are part of two major transformations which are fundamentally changing the global political, economic and social context of our world. First, we are moving from a unipolar to a multipolar world and from a uniconceptual to a multi-conceptual world. This is leading to increased fragility of our global system while also enhancing the potential for rising conflicts as we see now with the danger of trade wars. Despite our differences, we should never forget that we have common global interests and a common global responsibility. Just think of preserving our natural resources. The ASEAN way of striving for consensus among diverse countries can serve particularly during those times as a good role model for our world. The second big transformation which is taking place is the force industry evolution. The force industry evolution will change business models, economies and societies in fundamental and often disruptive ways. Global competition will be more determined by innovative capabilities and capacities and less by cost factors. The world 20 years from now will look completely different from what it is today. The countries who succeed in the era of the force industry evolution will be characterized by innovative and entrepreneurial ecosystems. And here I am glad to welcome the more than 100 startups, outstanding startups, who have joined this meeting from the ASEAN countries and beyond. To successfully navigate the force industry evolution also requires agile governance which can provide the necessary conditions for startups and SMEs to flourish and to create the necessary jobs. Yes, the force industry evolution is threatening jobs, but it also offers new professional opportunities provided that governments and businesses work together to create the necessary mechanism for upskilling and re-skilling. Strong shareholder cooperation, particularly between governments and businesses, is therefore essential for making progress in this new era of the force industry evolution. Ladies and gentlemen, the world is engaged in a race, in a race for master's of the force industry evolution and global leadership, which comes partially through the force industry evolution. With this meeting, we want to make sure that the ASEAN countries with the right vision, with optimal policies, with a young and entrepreneurial population could be and shall be among the front runners and not the late comers in this revolution. To help to make ASEAN better prepared and fit for this race is my wish for this meeting. Ladies and gentlemen, again, a very warm welcome to this meeting. Thank you so much, Professor Schwab. What is more timely than following with a special message from UN Secretary General Antonio Guterres, especially in a region that has benefited so much from multilateral cooperation? Fabricio Hochschild, Assistant Secretary General for Strategic Coordination in the Executive Office of the Secretary General, will read on behalf of the Secretary General. Your Excellency, General Secretary of the Party, esteemed heads of state, esteemed heads of government, distinguished deputy heads of state, and deputy heads of government. Madam State Counselor, distinguished ministers, ladies and gentlemen, I have the honor to deliver these remarks on behalf of the United Nations Secretary General Antonio Guterres. It's a pleasure to greet the government and the people of Vietnam and the World Economic Forum on the occasion of this gathering devoted to entrepreneurship and the Fourth Industrial Revolution. Globalization has delivered both immense opportunities and daunting challenges. The world has seen a historic decrease in extreme poverty, including in Vietnam, where extreme poverty has fallen dramatically, from more than 50% in 1992 to less than 3% today. Yet the gains of globalization have not been equitably distributed. Rising inequality has spread discontent and instability in many parts of the world, hindering our efforts to achieve the 2030 Agenda for Sustainable Development. Fair and inclusive globalization is an imperative. Great advances in frontier technologies and the advent of what is called the Fourth Industrial Revolution hold great promise, but may also have unintended consequences and exacerbate some of the problems we face today. We need to better ensure that new technologies offer new livelihood opportunities and steer globalization in a sustainable direction that protects the vulnerable. It is for this reason that I recently launched a high-level panel on digital cooperation so that together we can find new ways to maximize the potential benefits of new technology while managing the risks. ASEAN is a key partner of the United Nations and I welcome your efforts to reflect on the challenges of new technology and to contribute practical policy recommendations for the way forward. Cooperation among a broad set of actors will be crucial, including member states, the private sector, scientists, civil society and academia. Together we can shape globalization to achieve sustainable development, seize the potential of technology advances and fulfill our shared promise to leave no one behind. Please accept my best wishes for a successful forum. So to our host, Vietnam is one of the shining stars of the emerging markets universe. With a stock market that has doubled in less than two years, poverty, eradication that is historic as mentioned by the Secretary General and an economy growing with almost 7% this year. It is my honor to introduce His Excellency Nguyen An Su An Phuc, Prime Minister of the Socialist Republic of Vietnam. Excellency General Secretary, Excellencies heads of states and governments, heads of delegations, Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, ladies and gentlemen at the outset. On behalf of the Vietnamese government with my sincere heartfelt thanks and gratitude, I would like to warmly welcome all leaders and delegates participating in the World Economic Forum on ASEAN, Hel and Hanoi, allow me to applaud Professor Schwab for co-chairing their forum today. Ladies and gentlemen, when we think of ASEAN, many think of the diverse and abundance of natural resources to be harnessed and as well as the factory of the world. However, in the Fourth Industrial Revolution and with the rapid march of science and technology, ASEAN today is also known as one of the cradles of many new and innovative ideas in the world. It is advanced technology and digital economy that are the new potential areas for ASEAN with forecasted growth to increase by fourfold to $200 billion by 2025. The opportunities brought about by the Fourth Industrial Revolution for ASEAN countries are indeed enormous. I should like to name just a few of them. First, it's the creation of productivity breakthroughs in five major industries including electronics, petrochemical, consumer goods, food and pharmaceuticals. Second, it's the promotion of more inclusive growth towards the United Nations sustainable development goals. On the basis of the Fourth Industrial Revolution's applications to create connectivity and sharing new values and innovations. And third is the development of SMEs, themselves the backbone of ASEAN economies and the starting point of a wide variety of new ideas. The Fourth Industrial Revolution opens up opportunity to connect SMEs with transnational and global markets. And fourth, that means taking shortcuts in industrialization policy. ASEAN can now speed past traditional industrial development stages by boldly developing artificial intelligence utilizing automation, unmanned aerial vehicles, satellites and sensor systems to improve productivity and the efficiency of resource use. However, the challenges that ASEAN must face are likewise enormous. It is plain to see that first, the risk of employment loss from automation. And according to the ILO, 56% of all jobs in five ASEAN countries may shift to the hands of artificial intelligence and robots, thus possibly putting an end to the era of the traditional Asian factory model. Of course, a lot of experts have said that many of our livelihoods for our people will also come from this Fourth Industrial Revolution. And the second challenge is the winding of the income gap. The Fourth Industrial Revolution has the capacity to rapidly boost the income of citizens and nations equipped with skills and knowledge and thus further winding the income gap and creating risks of social instability. Against this backdrop, ASEAN is proud to have, among our members, Singapore, a successful model of the pioneering spirit of the digital economy having harnessed the Fourth Industrial Revolution to achieve extraordinary growth in recent years. Ladies and gentlemen, faced with such opportunities and challenges, ASEAN countries need to set policy priorities not just based on their perspective but also from that of the entire grouping. Taking this approach, I would like to make the following recommendations. First, fostering digital connectivity and data sharing. The leaders of ASEAN have adopted the master plan for ASEAN connectivity to enable physical, institutional, and people-to-people linkages. And in the context of the Fourth Industrial Revolution, I would like to suggest that we add a new dimension that is digital connectivity, mainstreaming it and enhancing the effectiveness of the above mentioned linkages. In tandem with this effort, focus should be directed to the development of e-commerce, e-payment, and e-government. In addition, data should also be the cornerstone of the Fourth Industrial Revolution. We need to establish the ground rules for ASEAN code on data sharing cooperation to standardize the ways and conditions for the effective sharing and use of data. Second, harmonize the business environment. The basic infrastructure for financial, banking, market, media, and logistics connectivity must operate at the regional level. And from this, I propose that we consider establishing a business environment, legal and regulatory policy harmonization mechanism among ASEAN members, thus assisting ASEAN businesses to achieve economy of scale and strengthen their global competitiveness. The ASEAN Single Window for Customs Clearance is a good example that has been working well for a few years. At our meeting this time at the ministerial and business levels, Vietnam will put for several new initiatives, including cross ASEAN single-rate mobile coverage, intellectual cooperation to ensure cybersecurity, cooperation in training high-quality IT human resource. I've recently been informed of some good news, and it's also very hot news today. At 3 p.m. today in Hanoi, Gojek, an Indonesian startup company, and Goviet, a Vietnamese startup company, will together inaugurate their passenger transport service built on the 4.0 platform. And I'm happy to say that I've been informed that the President of Indonesia will be attending this event. And we have here among us about 80 startups, and this promises more excellent cooperation in the future. The Vietnamese government hopes to see more such cooperation to show and tell the world a startup atmosphere is truly permeating throughout ASEAN. Three, promote the creation of connectivity between innovation incubators. In the Fourth Industrial Revolution, many ASEAN countries have already established their own national innovation centers and incubators. I propose that we establish a connectivity framework to link national incubators into the region-wide network of incubators. Fourth, to seek out and build on talents. According to a 2017 report by Google, the lack of skilled engineers remains a major challenge for ASEAN. I propose that we establish a talent incubator strategy for ASEAN countries. On this occasion, I am delighted to inform you that at the 30th Computer Sciences International Olympiad held in Japan with 335 international competitors, all four Vietnamese competitors will participate to receive medals, one gold, one silver, and two bronzes. And five, establish an ASEAN education network and a system for lifelong learning. The impacts of the Fourth Industrial Revolution require a robust adjustment in our education system to adapt to the new development trends and the rapid changes in the job market. To that end, I propose that we establish an ASEAN education connectivity network and establish a system of lifelong learning in ASEAN countries. Ladies and gentlemen, we want our population of over 640 million, accounting for about 8.5% of the world's population and an economy worth about $2.76 trillion in 2017. ASEAN is now the third largest economy in Asia and fifth in the world. As we look abroad, particularly in commerce, I propose that we develop the intra-block market into a sufficiently large market for development strategies. Towards the 2025 ASEAN community vision of an open ASEAN that enjoys diverse cooperation with all partners, we welcome the important role and active cooperation from the world economic forum as an incubator of such a variety of innovative ideas and strategies at the global scale. As the Fourth Industrial Revolution spreads and the regional and global environment experiences fierce competition, it becomes all the more pertinent for us to join hands to strengthen solidarity, harness intra-block strength to build a peaceful, stable, resilient, rules-based, people-centered ASEAN. ASEAN has been making efforts and shall continue to do so to maintain its centrality in the region, to work with partners to maintain peace and stability, and to ensure that the freedom of movement of goods and services through the air overland on the seas of light towards regional prosperity. I declare the 2018 World Economic Forum on ASEAN open. May the forum be a great success. I wish all leaders and delegates good health and every success. Thank you for your attention. Thank you, Prime Minister, for those warm, welcoming remarks. Also a special thank you to Negwe Anfudshong, General Secretary of the Communist Party of Vietnam, that is also with us here. Singapore is one of the most successful and competitive economies in the world, and also the chair of ASEAN in 2018. I am pleased to introduce Lee Shen Long, Prime Minister of the Republic of Singapore. Your Excellencies, distinguished guests, ladies and gentlemen. I would like to thank Prime Minister Nguyen Xuan Phuc and Professor Klaus Schwab for organising this event. It brings together regional leaders, academics and businesses to share their views on how ASEAN should respond to the Fourth Industrial Revolution. This Fourth Industrial Revolution is upon us. The global economy is being fundamentally transformed by new and far-reaching breakthroughs in technologies. Businesses are changing the way they operate, workers are using technology to become more productive. Customers are changing how they make their purchases and markets are growing bigger and becoming increasingly integrated. Here in ASEAN, Member States are in a good position to take advantage of the new opportunities that this 4IR can bring. First of all, our economic fundamentals are robust. ASEAN will become the fourth-largest economy in the world by 2030 after the US, China and the European Union. We have a young and educated workforce. 60% of our population is under 35 years old. They are comfortable with new technology and the digital economy in ASEAN is projected to grow to reach US$200 billion by 2025. Secondly, ASEAN is committed to further economic integration. This is an important condition for the Fourth Industrial Revolution because it is about building networks, creating new synergies and staying connected. ASEAN Member States have been working together towards the ASEAN Economic Blueprint 2025 so that ASEAN businesses can operate more seamlessly across the region. It is important to involve businesses in this process because the private sector and especially the small and medium enterprises is the backbone of our economies and the source of entrepreneurship. ASEAN is also working with like-minded partners to strengthen the open and rules-based multilateral trading system. It is a system that has underpinned our growth and stability but is under pressure and even threat. That is why ASEAN is doing our utmost to make progress on the Regional Comprehensive Economic Partnership and hope to achieve a substantial conclusion to the RCEP by the end of this year, although this is not yet assured. As ASEAN Chairman this year, Singapore is working with our ASEAN colleagues and partners to develop initiatives under the themes of resilience and innovation in order to use technology to benefit our businesses and our peoples. For example, we have concluded an ASEAN agreement on e-commerce which will streamline e-commerce regulations so that businesses can market and sell their products easily within ASEAN. An ASEAN single window will expedite cross-border customs cargo clearance to cut transaction costs using a single online platform. We have also established the ASEAN Smart Cities Network, comprising 26 pilot cities, including Hanoi. It is a network that provides a platform for cities to cooperate and to share experiences and the network is also working with external partners as well as a private sector. The ASEAN Smart Cities Network completed its first round of meetings last July and has already launched several projects. For example, collaborating between Chonburi's Amata Smart City in Thailand and the Yokohama Urban Solution Alliance on a smart energy management system. And there will be many more collaborations to come. To boost regional economic integration and adoption of technology, Singapore will upgrade our three centres for the initiative for ASEAN integration. The centres are in Vietnam, Cambodia and Laos and we will upgrade them to become Singapore Cooperation centres. The new centres will expand our range of technical assistance beyond classroom-based courses which will allow Singapore to share our experiences and practices more effectively so that we can better learn from each other. Bilaterally, between Singapore and Vietnam, we have established seven Vietnam-Singapore industrial parks. They are doing well, bringing in more than US$11 billion worth of investment capital from 800 international companies, generating more than 200,000 jobs. The Vietnam-Singapore industrial parks are a strong pillar of our deep economic relations and they form invaluable infrastructure for Vietnam and Singapore companies to benefit from the Fourth Industrial Revolution. Singapore will also be hosting the Industrial Transformation in Asia Pacific, ITAP, this October. It is the inaugural Asian edition of the Hanover Messe, the world's largest industrial fair. It will expose ASEAN companies to the latest industrial technologies and we hope that through ITAP, we can build an Asian Industry 4.0 community where manufacturers, technology providers and innovators can share their latest ideas and technologies. This will help ASEAN countries to upgrade their manufacturing sectors which is the key pillar of many ASEAN economies, including Singapore's. These are just some of the initiatives ASEAN and Singapore are working on to prepare for the future economy. They are practical steps to promote ASEAN's use of technology in how we live, work and play. The Fourth Industrial Revolution is a dynamic and continuing process. We cannot predict exactly how it will unfold but I am optimistic about ASEAN's future because ASEAN has its own competitive strengths and by pooling our ideas and resources and integrating our economies, we will be in a strong position to ride on this fourth wave to bring tangible benefits to our economies and our peoples. Thank you very much. Thank you Prime Minister. China is the second largest economy in the world and the largest trading partner with ASEAN, more than US$500 billion a year. I'm pleased to welcome special guest remarks from His Excellency Hu Chunhua, Vice-Premier of the People's Republic of China. Your Excellency, General Secretary Wuyinfu Shuang, Your Excellency Prime Minister Wuyinfu Shuang Fouk, Your Excellency Executive Chairman Professor Klaus Schwab, Your Excellencies Heads of State, Government and Delegation. Ladies and gentlemen, friends, good morning. I am delighted to come to the beautiful city of Hanoi to join you at the World Economic Forum on ASEAN. On behalf of the Chinese Government, I wish to extend warm congratulations on the opening of the forum. Ten years after the outbreak of the international financial crisis, we are meeting here under the theme ASEAN 4.0 Entrepreneurship and the Fourth Industrial Revolution. This forum is of special importance to our efforts to deepen practical cooperation among nations and consolidate new growth drivers in the ASEAN region, and will lend new impetus to the world economy. Now the world economy is picking up, but uncertainties and destabilizing factors are on the rise, particularly as some individual country's protectionist and unilateral measures are gravely undermining the rules-based multilateral trading regime, posing a most serious hazard to the world economy. In such a complex environment, China stands ready to work with ASEAN and other countries across the world to seize the opportunity of the new industrial revolution, meet the challenges together, and help develop an innovative, open, interconnected, and inclusive global economy. First, we need to uphold openness and mutual benefits. What we could learn from the history is that self-isolation will lead nowhere, and only openness for all represents the right way forward. In an increasingly smaller world, the interests and future of all countries are closely intertwined. We must categorically reject protectionism and unilateralism, firmly support multilateralism, uphold the open world economy and multilateral trading regime, and promote trade and investment, liberalization, and facilitation. Second, we need to promote innovation-driven development. Innovation is the first and foremost driving force for development, only with a strong commitment to innovation-driven development can countries become frontrunners in the new industrial revolution and achieve lasting economic prosperity. We need to accelerate structural reform, make innovative improvement on development visions, policy measures, and growth models, advance the replacement of older growth drivers, and unlock the potential of world economic growth in the long run. Third, we need to pursue inclusive growth. We need to build synergy between our own development and the UN 2030 agenda for sustainable development. We need to strengthen macro-policy coordination. We need to increase input in education, health care, and job creation to deliver the benefits of economic growth and technological advance to more countries and more groups of people, and continuously enable our people to enjoy a better life. Fourth, we need to pursue interconnected development. This year marks the fifth anniversary of the Belt and Road Initiative put forward by President Xi Jinping. For the past five years, China's trading goods has totaled more than 5 trillion U.S. dollars with countries relevant to the Belt and Road Initiative. China has invested more than 60 billion U.S. dollars in these countries in cumulative terms, creating hundreds of thousands of local jobs. China stands ready to explore new areas and foster new highlights for cooperation with all countries under the Belt and Road Initiative, with a view to achieving common prosperity. Ladies and gentlemen, ASEAN is China's good neighbor and a good partner for Belt and Road Cooperation. Strengthening partnership with ASEAN is always a top priority in China's foreign policy. As China and ASEAN celebrate the 15th anniversary of strategic partnership this year, our relations are entering a new era of improvement and upgrading at a quicker pace to build an even closer community with a shared future. China will further advance mutually beneficial cooperation with ASEAN countries in the following aspects. First, building synergy between our development programs with a view to promoting the long-term growth of China-ASEAN relations. China will work with ASEAN to formulate the China-ASEAN Strategic Partnership Vision 2030, build greater synergy between the Belt and Road Initiative and ASEAN's development programs, and advance a number of flagship and key projects to deepen regional cooperation. Second, expanding economic and trade ties. China will join hands with ASEAN countries to tap new areas of trade growth and expand investment and industrial cooperation. We welcome the participation of ASEAN countries in the first China International Import Expo to be held in Shanghai this November, where competitive ASEAN products will be promoted. Third, deepening cooperation in innovation. This year is the China-ASEAN Innovation Year, China's innovation-driven development strategy, and ASEAN's innovation-led growth share the same vision. China will support and participate in the ASEAN Smart Cities Network and enhance our cooperation in digital economy, artificial intelligence, and modern supply chain. Fourth, advancing regional economic integration. China is ready to work with ASEAN to deliver the outcomes of the upgraded China-ASEAN free trade area on the ground as early as possible and conclude negotiations on the regional comprehensive economic partnership, ASEP, at an early date. We will strengthen Lantong-Macon cooperation and upgrade cooperation with Bimpiyaga, which will help ASEAN countries narrow the development gap and lend fresh impetus to regional economic integration and sustainable development. Ladies and gentlemen, China's economy has maintained steady and sound growth in recent years. In the first half of this year, China's GDP grew by 6.8 percent year-on-year, registering a growth rate between 6.7 percent and 6.9 percent for 12 quarters in a row. In the first six months, final consumption expenditure and the service sector contributed 78.5 percent and 60.5 percent of economic growth respectively, indicating an improved economic structure. New growth drivers contributed over one-third of economic growth. With ever-stronger new growth drivers and more market potential unleashed, China's economy is embracing an even brighter future. This year, China marks the 40th anniversary of reform and opening up. As Chinese President Xi Jinping pointed out at the 19th National Congress of the Communist Party of China, CPC, China will not close its door to the world. We will only become more and more open. At the Boa Forum for Asia Annual Conference 2018 last April, he announced a number of major measures for further opening up. These measures are now being implemented, and some of them have already paid off. China's resolve to open its doors still wider will not change, even when the external situation changes. China will consistently pursue opening up at its own pace. This will offer important opportunities for Asian countries and beyond. Foreign enterprises are most welcome to work with Chinese businesses to seize opportunities, tap potential, and broaden and deepen cooperation for win-win outcomes. The World Economic Forum is an important platform for the discussion of global issues. For many years, China has enjoyed sound cooperation with the forum. In six days, the 12th Summer Devils session will open in Tianjin, China. I believe this meeting here and the session in Tianjin will reinforce each other and contribute to the sustained growth of the world economy. Inclusion, I wish the World Economic Forum on ASEAN a full success. Thank you. Thank you so much, Mr. Vice Premier. Also for your encouraging work about important cooperation between China and the World Economic Forum. And we are all also looking forward to next week's annual meeting of the new champion Summer Devils in Tianjin. Now we are coming to the second segment of the opening. We're focusing also on the fourth industrial revolution, and it is my honor to introduce His Excellency Joko Widodo, President of the Republic of Indonesia. Gentlemen, good morning. What is happening in the world economy today is that we are heading toward the Infinity War. Not since the Great Depression of the 1930s have trade wars erupted with the intensity that they have today. But rest assured, I and my fellow Avengers stand ready to prevent Thanos from wiping out half the world population. Ladies and gentlemen, Thanos wants to wipe out half of the population so that the surviving half will enjoy double the per capita resources. But there is a fundamental mistake in his underlying assumption. Thanos believes that the resources of the planet are limited, finite. The reality is, the resources available to humanity are not finite, but infinite. Our resources are not limited, but unlimited. First, all around us, we see technological progress, creating ever greater efficiencies. Technological progress and increasing efficiency are giving us the ability to stretch our resources farther than ever before. Scientific research clearly shows that all of our economies are getting like that. There is less and less physical weight and physical volume to each of our economies. In just the last 12 years, the total weight and volume of television sets, cameras, music players, books, newspapers, and magazines has been replaced by the likeness of smartphones and tablets. Large and heavy coal-fired power plants are being replaced by thin and light solar panels and wind turbines. Second, as our economies develop, they are driven increasingly, not by natural resources which are limited, but by human talent which is unlimited. The 18 Asian games and Asian para-games which we just saw in Jakarta were a spectacular showcase of Asia's human talent. More than 14,000 athletes and 7,000 officials from 45 countries engaged in 40 athletics field. In the opening and closing ceremonies, thousands of singers, dancers, acrobats, and other artists from Indonesia, from India, from Korea, and many other countries put on glorious show that included Indonesian dangdut, Indian bollywood, and Korean K-pop. In Indonesia, our human talent, especially our young people, are driving a transformational e-commerce and digital economy boom. Today, we have four unicorns, or start-up with billion dollar valuation in Indonesia. And of course, human talent is now also driving the fourth industrial revolution. On April 4 of this year, I officially launched our Industry 4.0 government program which we call Making Indonesia 4.0. To share with you, several of my views on industrial revolution 4.0. First, I believe that this fourth industrial revolution will create more jobs than it destroys, not only in long term, but even in the short term. Second, I believe that this fourth industrial revolution will not increase in the quality, but instead will reduce inequality. Because one important aspect of Industry 4.0 is dramatic cost reductions for many products and services which will make those products and services cheaper and more accessible to lower income people. Third, I believe that ASEAN, including Indonesia, will add the forefront of the fourth industrial revolution. During the ASEAN game, we already show a self-driving minibus shuttle operating on a trial 5G network. But first, we must prevent the trade wars. From becoming the Infinity War, you might be wondering, who is Thanos? Ladies and gentlemen, Thanos is not any individual person. Sorry to disappoint you. Thanos is inside all of us. Thanos is the misguided belief that in order us to succeed, others must surrender. He is misperception that the rise of some necessarily means the decline of others. Therefore, the Infinity War is not only about our trade wars, but about each and every one of us relearning the lesson of history that with creativity, with energy, and with collaboration, and with partnership, we humanity shall enjoy abundance and we shall produce not Infinity War, but infinite resources. Thank you very much. Thank you so much, Mr. President. Next speaker is his Excellency, Samdak Teguhun Sen, Prime Minister of the Kingdom of Cambodia. Ladies and gentlemen, today I'm pleased to apologize for my late arrival because during the last four years, I had to read two speeches, one the speech in China, in the Asian China Expo, the 15th round, and here the second speech, but come to take part in this meeting. Today, I'm pleased to attend the 27th World Economic Forum on Asian, in which we will discuss an important topic, the entrepreneurship and forced industrial revolution for Asian. We all know that the continuous progress of science and technologies, the so-called forced industrial revolution, have become a key factor, determining the strength of evolution of all dimensions of society and economy, while also bringing about both opportunities and challenges for the world. In fact, forced industrial revolution is revealing the technological progress to the world, and forcefully reshaping the factors of production, consumption behaviors, and economic structures. Those technological progress are the use of artificial intelligence, the use of robot, 3D printing, the use of biotechnologies, etc. All of these technologies have caused changes with unprecedented speed in the areas of production, education, health, job market, commerce, business, administration, and technologies, etc. Nowadays, the digitalization has become a new growth catalyst that helps increase productivity and work efficiencies, allow local SMEs to link with a regional and global production chain, as well as explore innovation in goods and services production, and more importantly, allow least developed countries or emerging countries to seize the new technologies for leapfrog the traditional industry into modern industry. Excellencies, Madam Ladies and Gentlemen, while bringing about positive change for our nation, the forced industrial revolution would also cause anxiety and create challenges for us such as job losses, the need for higher level of education and skill or workforce, unequal distribution of benefit due to different level of access to knowledge and technologies, potential IT related crimes and offenses that could impact national and regional security, lack of legal and regulatory framework for the management and safeguard of data, data privacy and cybersecurity, etc. In this regard, to seize the positive development and reduce anxiety, I'm of the view that ASEAN should implement the following measures, creating ASEAN vision for industry 4.0 with comprehensive and inclusive features that is based on the existing ASEAN initiatives by incorporating important development programs in the areas of technologies, human resource, legal framework, hard and soft infrastructures of IT, and reform program for ASEAN and members countries, formulating human resource development program, focusing on enhancing qualities of education and skill training, addressing job losses, and developing social protection system to address economic and social inequality, promoting the development of ecology system, supporting research and innovation in the region, and enhancing entrepreneurial capacities in developing new business model, creating new jobs, and setting new direction for the future's economy. Continuing to improve hard and soft infrastructures, especially enhancing existing connectivity, as well as continuing to promote a regional and intrarational integration in order to further develop resilient foundation for ASEAN nations to exploit the benefit from global new growth context. Excellencies, Madam, Ladies and Gentlemen, Cambodia is the country with high potential to seize the opportunities arising from the forced industrial revolution due to the following features. One, demographic dividend, increasing numbers of educated youth with their first absorption of digital technologies. Two, rapid increase in the juice of smartphone with high usage rate. Three, fast technological spillovers from the inflow of foreign direct investment. And four, fast digitalization is taking place in all key economic sectors, such as in fintech sectors and e-commerce sectors, while the consumers are customing themselves to the juice of these technologies. In this regard, the Royal Government has been formulating and devising policies in line with this emerging trend to seize opportunities, promote the progress of technologies in business market, manage business environment, as well as mitigate unexpected risks arising from these technological developments. Getting ready for digital economies and responding to the forced industrial revolution has become a practical goal of the Royal Government in this mandate. We will focus on strengthening and expanding the foundation of digital economy in both heart and self, developing human resources and skills in line with this new context, developing legal and regulatory framework, as well as promoting and enhancing the research and innovation. Cambodia has indeed been promoting the development of entrepreneurship and small and medium enterprises with aims to creating relevant new jobs and reorienting directions for development, especially first capacity enhancing program by focusing on entrepreneurial skills and business management, including creating entrepreneurial culture and behavior through digital platform, and second, developing business support program by providing business counseling and technology support, including the development research and development center. Before ending, I would like to express my gratitude to the people and government of Vietnam for the invitation and warm hospitality, and would like to wish this meeting success with fruitful outcome for the interests of the ASEAN community, and I thank you for your kind of attention. Thank you, Prime Minister. I know it is my pleasure to introduce this excellently, Dr. Tong Long Sisulit, Prime Minister of the Lao People's Democratic Republic. Excellency Nguyen Phuong, General Secretary of Vietnam. His Excellency Nguyen Sun Phuk, Prime Minister of the Socialist Republic of Vietnam, Heads of State and Heads of Government, Professor Klao Schwab, Executive Chairman of the World Economic Forum, ladies and gentlemen. It is my great pleasure to attend the World Economic Forum once again in this beautiful city of Hanoi. I would like to extend my congratulations to his Excellency Prime Minister Nguyen Sun Phuk of Vietnam and the Government of Vietnam as well as the World Economic Forum on the excellent arrangements for this meeting, and I would like to express my appreciation to the government and the people of Vietnam for the warm welcome extended to my delegation. Over the next decade, our world will grow rapidly in the wake of science and technology revolution and new industrial innovations that will provide the basis for many countries in the world to develop their respective national socioeconomic development. For ASEAN, it is predicted that in the next decade, the fourth industrial revolution will become an unparalleled evolution of science that cannot be avoided. This will create conditions for all countries, including the public and the business sectors, and entrepreneurs, to turn towards the use of scientific advances of this new era in upgrading production capacity, enhancing the competitiveness of the different sectors, and thereby strengthening their integration into regional and international economic value chains. However, we need to think about some of the challenges that may arise, such as conflicts. These include disparities in benefits from advances in science between countries, groups of countries, as well as between different groups of people, development gaps, and increasing cyber threats that will become social problems if we do not have appropriate measures to address them. Excellencies, ladies and gentlemen, against this backdrop, I am of the view that, I am of the view that for ASEAN, even though we have made efforts to advance together, we still see the challenges of having gaps in many areas. Therefore, ASEAN should first continue to develop itself in accordance with the changing regional and international context, while maintaining ASEAN's centrality and unity in shaping the evolving regional architecture to ensure that ASEAN collectively continues to grow. This can be done through focusing efforts in implementing ASEAN's priority programs and ASEAN Community Vision 2025, which includes the ASEAN Plan of Action on Science, Technology, and Innovation 2016-2025, that aims to build ASEAN as a region that is innovative, competitive, sustainable, and economically integrated, as well as ensuring implementation of the ASEAN-ICT Master Plan that focuses on developing strong ICT infrastructure to create a favorable environment for trade, investment, and entrepreneurship, and to bridge the technological gap towards ensuring maximum benefits from the utilization of ICT. Second, the ASEAN Secretariat is conducting a study on ASEAN's readiness for the Fourth Industrial Revolution, which I think this assessment will become an important document to help ASEAN establish more relevant policy direction. Third, ASEAN should continue to empower the business and private sectors to advance forward together in the era of changes towards the Fourth Industrial Revolution so that ASEAN will be able to compete with other regions more effectively. Another important aspect is ASEAN business units, which are central to boosting respective national economic growth, they must continue to adapt themselves to the conditions of new competitive conditions in an era of innovation and Fourth Industrial Revolution. We can generally say that in this era of the Fourth Industrial Revolution, the public sector and the private sector are all in the same boat, and ASEAN, therefore, is also in the same boat. Excellencies, ladies and gentlemen, for the Laopidia, in order to open up its economy and move towards international integration, the government has focused on all efforts on improving and adapting itself in many ways. The key is to transform the economy in the direction of modernization and make a transition from the use of out-of-date labor conditions, tools and techniques to the utilization of modern technology in all areas of development, production and services, in conjunction with efficient use of natural resources and environmentally friendly development, as well as human resources development, particularly upgrading of the quality of basic vocational and tertiary education. But because the Laopidia still has basic industrial structure, tools and production facilities, we need to increase the exchange of lessons and increase cooperation with various parties at the regional and international levels with a view to enable ourselves to integrate into regional and international economies of this era of the Fourth Industrial Revolution. I wish this world economic program great success. Thank you. Thank you, Prime Minister. Now it is my honor to introduce her Excellency, Doa An-Sansu Shi, State Councilor of the Republic of the Union of Myanmar. Madam floor is yours. Your Excellencies, distinguished guests, ladies and gentlemen, let me begin by thanking our hosts, the Government of Vietnam and the World Economic Forum for organizing this event. Myanmar is one of those countries that have been practically bypassed by the Third Industrial Revolution and we have been forced to plunge straight into the fourth one. The activity that is usually associated with late comers like us is leapfrogging, but dynamic colleagues have objected to this term saying that what we have been engaged in is not mere amphibian hops but quantum leaps because quantum leaps are absolutely necessary for countries like us which have been left behind by events over the past few decades. When I say that we have been engaging in quantum leaps, let me give you a very concrete example. Five years ago the price of cell phones in my country was about $1,500. Now it has dropped to about $1.5 US dollars and access to broadband has leaped from a little under 1% to 105%. That is in five years. I think we can be justified in saying that this has been a quantum leap. One quantum leap leads to others because of our access to cell phones and because of our access to cell phones we have been able to progress in unexpected directions. For example, Myanmar is not a country where we have had what you might call a banking culture. Our people think that their money is more secure under the mattress than in a bank, but from this stage we have got to the point when we think that we can forge ahead and make the unbankable because of the familiarity that our people have been able to forge with cell phones. Many of the cell phones that our people are using now are smart phones, about 30% are smart phones now, and again this has happened over a very, very brief period. But it is not just banking, it's also commerce. We believe that we will be able to progress very quickly not to e-commerce but to social commerce. Access to the internet for many of our people is through cell phones and not through other methods. But this has been so quick and so widespread that we think that we have not been left behind in the fourth industrial revolution. How has this come about? It started in a very practical way. We did not believe in protectionism. We opened the market to healthy competition, and this was the reason why access to broadband has become cheap and quick and easy for the great majority of us. So it is practical need as well as confidence in our people, in our human resources because we believe that competition is healthy. We are not afraid of competition. If we are going to be afraid of competition we will not be able to catch up with all those countries which have been more fortunate than ours and which are well ahead of us in the fourth industrial revolution journey. We believe that our people are capable of coping with the challenges and that brings me to what we see as one of the most important aspects of the fourth industrial revolution, the human factor. Dr. Schwab has placed emphasis on it saying that we must not lose the most valuable human assets, that is to say he identified creativity, empathy and stewardship. So our approach to the fourth industrial revolution is based on our belief in the creativity, the empathy and the stewardship qualities of our people, especially of our young. The fourth industrial revolution is often associated particularly with the young, but I think it is associated with all of us. We talk about seamless connectivity between regions, between sectors. I think we should also think about seamless connectivity between the ages, between the young and the old and the middle aged because we all have to work together if the fourth industrial revolution is to be a success for humanity, not for any particular country or any particular region but for humanity as a whole. Our approach to the human factor is to invest as much as possible in our people, the young as well as the old. The ones for whom the education sector is wide open as well as the ones for whom the education sector seems to have closed, though the old who have not been able to get a decent education. We want to open up opportunities for them as well because we believe that all our people will have a part to play in making the fourth industrial revolution a boon for humanity rather than a curse. With every industrial revolution there has been a requirement for skill change and that of course is education. We have to teach our people new skills and we have to give them the confidence to face the new learning experience bravely and with the resolution to succeed in this. In the past, ours in countries particularly the less developed among them have relied on low skilled labour to attract foreign investors to come to their shores. But now we have to take a different approach. We have to seize the opportunities that the fourth industrial revolution has to offer. Ours in countries have to be prepared with the right knowledge and skills. The education system of a country is considered crucial in how best we face the challenges of our times and we want to learn from countries all over the world. I am particularly happy that Professor Schwart is from Switzerland because we look to Switzerland as the model of vocational training. Education has not been mentioned very widely by those who spoke in this morning but we think that we need to shift the emphasis in education to practical skills rather than just academic qualifications. In our country especially where there is a great need to overcome the gap that has grown up between us and the more developed countries we need to concentrate on the practical aspect of education. And thus concentrating on the practical aspects of education we will be able to provide all our young people not just the privileged ones but the young people from the rural area who have not had the privilege of conventional education to keep up with the rest. Youths with innovative ideas must be encouraged to believe that they are part of the fourth industrial revolution regardless of the academic qualifications. The data from previous sources have shown that nearly 50 to 75 percent of the implementation of new technologies have failed in terms of quality and reliability due to neglecting the human factor. We cannot afford to fail because we're already so far behind and when I say it I hope that I'm speaking not just from Yama but all those least developed countries which are at the I do not like to say the tail end but which are not quite at the head of the fourth industrial revolution race. There is a lot of talk about the right kind of entrepreneurship but I have not been quite sure whether we are talking only about entrepreneurship as regards commerce and industry and trade or if we're talking about entrepreneurship as a nurturing process nurturing new sectors to develop and new sectors to catch up with those who are ahead of them. So it's stewardship what Dr. Schwab referred to as stewardship is what I think is necessary in not just in our commercial sector but throughout our country and this stewardship has to be linked to creativity and empathy unless we are creative we will not be able to meet the challenges of a completely new era which we had never anticipated 50 years ago. Now that we are facing the challenges of this new era we have to be creative and creative and in Myanmar we have the strength of the creativity of our young. Our education system has not been strong over the last several decades but yet we are beginning to see that our young are very strong in creativity and in spite of the fact that we have invested so little in research the research capabilities of our young people is quite astonishing. We hope that before long we will be able to prove to the world with specific examples rather than with a general assertion that our young are strong on creativity which of course is at the basis of meaningful research. Systems do not create themselves they are teams of experts behind every new idea and engineers are required to convert the ideas into a working system. So creativity has to be linked with practical skills and a practical approach to make our creative talents marketable. We cannot avoid talking about markets in a world economic forum so we put a lot of emphasis on the need to make the talents of our young people marketable. Marketable not just for the sake of making money although that's a very important part of market processes but for the sake of bringing our whole region together. ASEAN is a region where there are big development gaps and we believe that by closing the development gaps we will be helping not just the ones which have been left behind but the ones which have gone ahead as well. I understand that the survey of the world economic forum has revealed that in spite of the adventurous spirit of the young there is still great emphasis placed on stability which means in other words on security that again is part of the human factor the human need for security and we hope that our country will be able to trade our path along the fourth industrial revolution in a way that will be able to provide our people not just with financial security but other types of security as well. The world will always need human ingenuity and human skills. Computers will provide us with mathematical solutions but they wouldn't provide the judgments or the nuances. People will. So I would like to emphasize that our country would like to put emphasis on the human factor of investment in the human factor that we may be able to make our contribution not just in ASEAN but in the world at large. The fourth industrial revolution was not something we dreamt of but we do know what happened with the previous industrial revolutions and I wonder whether anybody has done any research into what difference each industrial revolution has made to the intelligence quarter of human beings. Has it really increased and how about the EQ the emotional quarter. Has that also improved with each industrial revolution. I'm not unaware of the fact that the second industrial revolution took place just before the first world war which was a catastrophe for humanity. So as we talk about revolutions we also have to think about the aims of the revolution of each revolution. What is the aim of our fourth industrial revolution. Is it simply to make our world a better commercial place or is it to make our world a better place altogether. And I think this is something that we all have to discuss together and I'm very grateful to Professor Schwab for organizing this event which I think will provide all of us with an opportunity to find out what we can do to make the fourth industrial revolution a catalyst for bringing about a better world for all of us. Thank you. Thank you so much to State Chancellor An-Sanzos Shi. No it's His Excellency Prajin Yantong Deputy Prime Minister and Minister of Justice of the Kingdom of Thailand. Good morning dear Party Secretary of Vietnam head of state head of government distinguished guests ladies and gentlemen for Thailand the fourth industrial revolution represent a big turning point for the way we live and do our business. Digital technology is now an integral part of the society at all levels which brings tremendous benefits but at all at the same time posing immense challenges especially for SMEs and marginal groups of people which the government must provide access and opportunity to access to this technology. At the national level the Royal Thai government came up with the Thailand 4.0 policy which is an economical development to transform Thailand's economy towards a value base and innovative driven economy to also develop human resources technology clusters and targeted industries and development of entrepreneurs and network of innovative enterprises it will also stress upon the inclusiveness and also to create the participation of all segments of the population so that they can reap the economic benefits from digital transformation. The government is also recognized that in the area that the digital technology connects all of us together Thailand cannot go forward alone therefore as the ACMEX chair this year we place importance on the linking of the five Mekong countries together to create a seamless regional value chain and lead our region into the era of the fourth industrial revolution dynamically. This is the core concept of the ACMEX master plan 2019-2029. Our endeavor does not stop at only the sub-regional level as a future chair of ASEAN and APEC Thailand we will continue our role as the enabler of connectivity we reaffirm our commitment to connect the connectivities to ensure that the missing links and connectivity gaps in our region both in terms of physical and physical and digital gaps will be closed therefore Thailand has proposed the drafting of the ACMEX master plan we have made sure that this plan will complement and promote the synergy with other existing connectivity frameworks and plan of action for example the ASEAN master plan on connectivity 2025 the BIMS tech master plan on transport connectivity and then also the 2030 United Nations sustainable development goals. Thailand also believes that connectivities are all interconnected in other words you cannot have a seamless digital connectivity without having a functional physical infrastructure therefore if you look at the master plan on connectivity for ASEAN connectivity it encompasses three dimensions of connectivities namely physical connectivity which focuses on infrastructure both physical and digital secondly institutional connectivity which involves institutions for example rules and regulation harmonization and three people-to-people connectivity which focuses and emphasis on people empowerment lastly we also believe that to promote ASEAN centrality we will have to encourage further partnership with other region for example the Asia Pacific and Indo-Pacific we will strive to foster cooperation between the government the business sector and then also the people sector so to ensure that connectivity will truly contribute towards an even more inclusive and sustainable ASEAN thank you very much thank you so much Deputy Prime Minister and thank you so much to all the regional leaders and to Professor Schwab for what I believe has been a historic start of the 27th World Economic Forum Summit on ASEAN and I think we all know how important economic growth also is for the future of ASEAN taking into account the 10 000 young people enters the workforce every day and this will happen for the next 15 years in ASEAN let's make sure that the 4IR revolution like the other industrial breakthroughs create jobs but also let's hope that this revolution will be more inclusive and sustainable. Dear participants I wish you two fruitful days and also hope for productive outcome the importance of public private cooperation has never been more important thank you looking forward to seeing you the next two days