 Prime Minister, your Excellencies, ladies and gentlemen, good afternoon and a very warm welcome to this 25th World Economic Forum on ASEAN. My name is Justin Wood, I'm head of Asia Pacific at the World Economic Forum, and it's my very great pleasure to officially open this summit. But before I do, a few words of welcome from our Chairman, Professor Klaus Schwab. Mr Prime Minister, Excellencies, ladies and gentlemen, dear friends, partners and members of the World Economic Forum, cordially welcome to this World Economic Forum on ASEAN. Due to an oddities, I cannot travel at this moment, but in my heart I'm with you during this meeting. I'm particularly sorry not to be physically present because it's our 25th anniversary, 25 years to celebrate of our engagement in the region. But this year, we want to concentrate not just on East Asia, we want to concentrate on the ASEAN countries. The ASEAN countries are at a very important moment of history. Not only because the ASEAN economic community has been created, but ASEAN on the one hand offers so many opportunities, has such a great potential, on the other hand has to prepare for the future. The future will be very much dominated by this notion of being in the fourth industrial revolution. Technological progress presently is so fast that what we will experience in a very short period of time is a complete restructuring of production to a certain extent of consumption. We will need new skills. We will redistribute the cards of global production. Here, with a relatively young population, the ASEAN countries have a particular chance and a particular potential to be in the lead of such a fourth industrial revolution. But this will need very deep cooperation, cooperation in terms of an increased infrastructure, cooperation certainly in the political, economic and social fields. I'm sure that this meeting here will serve to shape systems for the future. And I'm hoping that you will have not only enjoyable but very fruitful next days. I wish you a very good meeting. As you heard from Professor Schwab, the ASEAN region stands at a critical moment. On the one hand, there is a huge amount to celebrate here. The economics are strong. For the past 20 years, the ASEAN region has been growing at around 5% a year. The demographics are strong. Large population, 630 million people, still most of them extremely young. The economic transitions here continue to unfold as workers shift from agriculture into manufacturing and on into services, taking on ever more productive jobs and earning higher incomes as a result. Regional integration continues to deepen, most recently with the launch of the ASEAN Economic Community. And the competitiveness of countries within ASEAN is also improving. The Forum every year produces a ranking of global competitiveness around the world. And here in ASEAN countries such as Cambodia and Indonesia and the Philippines have seen their rankings climb up every year very steadily. So on the one hand, there was an awful lot to celebrate here in ASEAN. But on the other hand, there's also a lot to worry about. Economic growth here remains extremely impressive. And yet, in the last couple of years, we have seen it trending down. And a big part of the reason for that is because the global economic context has become much more challenging. The world's two big economic engines, China and the US, are both undergoing economic transitions at the moment. China, which is ASEAN's biggest trade partner, is undergoing economic rebalancing towards a new economic model. And that means, of course, slowing economic growth rates. And that in turn feeds through into slower trade and weaker commodity prices. And ASEAN has certainly felt the fallout from that. Meanwhile, in the US, we see a return to the normalization of monetary policy. And that's changing the flows of capital around the world. And once again, ASEAN has felt the impact of that. Elsewhere in the world, the picture is equally unsupportive. In the developed world, Europe and Japan are still weak. And in the emerging markets, many of the biggest economies are firmly in recession. So given this context of a weak global economic environment, ASEAN increasingly needs to look at its own internal drivers of growth for its future, rather than relying on the external world to drive its economic story. So as ASEAN looks internally, this of course means working on economic reforms. It means upgrading human capital, building infrastructure, and of course strengthening the quality of institutions and governance, which are so critical. Without strong institutions, business and citizens lack the confidence and the trust to invest their capital and growth suffers as a result. But it isn't just the quantity of growth that is so important, it's also the quality of growth. How inclusive is it? Is this economic story benefiting just a few, or is it benefiting everyone? And here again, ASEAN faces big challenges. At the forum, we have done a lot of research into inclusive growth, and our research shows that in many places across Southeast Asia, inequality is now rising. Yes, the impressive growth that we've seen over recent decades has lifted many, many millions of ASEAN citizens out of poverty. But having escaped poverty, many have now become stuck at a low and vulnerable income level. They're not rising to become middle class. And this fact that economic growth is not necessarily creating as many middle class citizens as it should has important implications. Implications for equity and justice, but also implications for the sustainability of growth. Because we know that middle class formation is foundational to sustained long term growth. Middle class formation is key to ASEAN being able to drive its own destiny at a regional level rather than having to rely on demand from elsewhere in the world for its future growth. So for all of these reasons, the theme of our summit this year is shaping the ASEAN agenda for inclusion and growth. Over the next two days, our hope and our aim is that we can explore the best ideas not only for lifting the quantity of growth, but also for improving the quality of the growth. These questions are critically important, but they're also becoming much more complicated thanks to the impact of the fourth industrial revolution. You heard Professor Schwab talk about this earlier. This is going to transform not only industries and businesses, but society and government too. And for ASEAN, very important questions. The future of jobs in education and how do you prepare workforces for this uncertain future. The future of industrial policy, many parts of Asia have relied on cheap labour as the source of their competitive advantage in the past and increasingly as the cost of automation plummets, that will no longer be a viable strategy. We stand really only at the beginning of this fourth industrial revolution. None of us really know where it's going to take us, but we do know that change is coming and we do know that the pace of change is accelerating. So over the next two days, we've tried to put together a programme that considers all of these issues. I'm sure that as you engage with it, the discussions that you have and the ideas that you generate will be very exciting. And I look forward to hearing what comes out of it. I wish you all the very best of luck and wish you all a highly productive summit. And on that note, let me now welcome His Excellency, Prime Minister of Malaysia, Najib Razak, to deliver his own opening remarks. Thank you, Justin. Peace be upon you all. And a very good afternoon. Excellencies, Prime Ministers, Vice President Indonesia and Deputy Prime Minister of Vietnam, Distinguished Ministers, Delegates, Ladies and Gentlemen. I am pleased to welcome you all today to the World Economic Forum on ASEAN. And I'm delighted that this milestone meeting is not only dedicated to ASEAN, but also that it is being held here in Kuala Lumpur. As a footnote, I had a conversation with Professor Schwab last night and I reminded him that there are three people he shouldn't argue against, conventional wisdom. One, of course, your boss. Number two, your pilot. If he says, don't fly, don't fly. And thirdly, your personal doctor. I'm not sure whether one's wife comes in number four or not. Ladies and gentlemen, the fact that WF has chosen to focus on ASEAN specifically this year is a testament, a testament to the growing significance of a region. And people are noticing that with a combined GDP of $2.6 trillion, collectively ASEAN is already the seventh largest economy in the world. And our 625 million strong population is forecast to be the fourth largest market by 2050, at the latest, with one global bank predicting we will achieve that status by 2030, even earlier. We know what we are and we know where we can be. The question now is, will we take the necessary steps to reach that goal? Do we have the will? Do we have the determination to make that dream a reality? How will we ride the wave of the fourth industrial revolution which WF has been discussing? That glittering price, which is what will allow us to shape the ASEAN agenda for inclusion and growth in accordance with this meeting's theme, is within our grasp. But the price must be taken. The great opportunities it promises will not miraculously appear without continued efforts, our efforts to reform, to liberalise, and to strengthen the integration of our ASEAN economies. What ASEAN can be, its potential, should be our call, our call for action. Will we, the leaders, captains of industry, policymakers, commentators, NGOs in ASEAN, heed that call? Will we do more to enhance ASEAN connectivity and inclusivity and at the same time reduce development and income inequality? We would not be doing our duty for our peoples if we do not, and there is much to be done. Ladies and gentlemen, first, however, let us remind ourselves of what ASEAN has achieved. ASEAN overtook China in terms of foreign direct investment in 2013. Last year, one publication described us as, and I quote, Asia's hottest investment. PricewaterhouseCoopers issued a report which said, with GDP growth rates that are threatening to overtake China's and the youthful growing and increasingly educated population, the allure of the ASEAN markets is obvious. Last year, under Malaysian's chairmanship, we signed the Kuala Lumpur Declaration on the establishment of the ASEAN community. We reaffirmed our commitment to the ASEAN Charter and past agreements, acknowledged ASEAN's success in maintaining a peaceful and stable region, and pledged our continued commitment to ASEAN community building and to the post-2015 vision. The first phase of integration necessary for us to achieve the economic pillar of the community by 2015 helped sustain growth of over 5% over the period 2007 to 2015. That by itself is a remarkable achievement given that during the first two years of that period, economies around the world were devastated by the Great Recession of 2007-2009. We have virtually eliminated import tariffs. Cross-border trading processes have been simplified, reducing the cost of doing business, transportation and other infrastructure networks have been improved to facilitate the movement of goods and services. Pragmatic policy reforms in member countries have transformed ASEAN into an increasingly attractive investment destination for international and domestic investors with ASEAN becoming a production base for global, multinational and energetic regional companies alike. Here in Malaysia, we have directly benefited from the creation of the ASEAN Economic Community. 27% of our trade is with ASEAN. Malaysian banks such as Maybank, CIMB, RHB and Public Bank communication companies including DG, Maxis and Telecoms Malaysia all have deep regional footprints. YTLA, ASEAN and Malindo are all regional players. In fact, over 1,500 Malaysian companies are operating in ASEAN. Most of them are locally incorporated and have assumed a local identity or have joined venture partners. They are, in fact, ASEAN in practice. Ladies and gentlemen, far further afield, people want to do business with ASEAN. We are being quoted by the most advanced economies in the world. Together with Australia, China, India, Japan, Republic of Korea and New Zealand, ASEAN is actively negotiating the regional comprehensive economic partnership and agreement that will see the establishment of a free trade area encompassing almost a third of the world's GDP with a population of over 3 billion people. ASEAN has a key role relating to China's infrastructure-driven alliances including the formation of the Asian Infrastructure Investment Fund and the One Belt One Road Initiative. We have an official enhanced partnership with the United States, Russia, once they advance relations with ASEAN and its proposing engagement and even an FTA between ASEAN and the Eurasian Economic Union. Canada has intensified its engagement. The European Union is assessing a free trade area and appointed its first dedicated ambassador to ASEAN earlier this year. So much attention has been paid to ASEAN. We should be flattered. However, in order to realize the potential of these agreements and associations, it is imperative that we carry on the process of deepening our community. And that, ladies and gentlemen, will be a big task. Removing non-tariff measures is a case in point. According to a recent joint report by the UN and Economic Research Institute for ASEAN and East Asia, while tariff rates halved between 2000 and 2015, non-tariff measures actually tripled over that time. From 1,634 measures to 5,975. We need to find more efficient ways of ensuring we recognize each other's documentation, whether it is for pharmaceutical products, professional certificates or port entry requirements. The ASEAN Economic Community will never reach true fruition if we do not work to eradicate these barriers. When we talk about the bright future that ASEAN could have, these are the kinds of issues that have to be tackled head-on in order for us to reach that horizon. They are complex, detailed and require an extraordinary amount of coordination. This is one of the reasons why Malaysia believes the ASEAN Secretary needs to be strengthened. The annual allocation of around $17 to $20 million is woefully inadequate for the Secretary to drive ASEAN forward, both in terms of integration and agreement with other trading powers. Likewise, the Office of the Committee of the Permanent Representatives of ASEAN Member States in Jakarta has to be enhanced to assist with the increasing workload of ASEAN and for national representatives to be able to cut across borders and agendas. The tasks involved in harmonizing will be immense. We must ensure that the right machinery and funding is there to ensure smooth collaboration and then to expedite implementation. Ladies and gentlemen, just now I mentioned our youthful, growing and increasingly educated population. Around 65% of ASEAN's population is under 35. We must tap into their energy, their desire to learn and innovate and we must support and stimulate their talent and entrepreneurship. We have the ASEAN Young Entrepreneurs' Council and Network, one of the many superb initiatives of the ASEAN Business Advisory Council. Here in Kuala Lumpur, President Obama and I launched MAGIC, the Malaysian Global Innovation and Creativity Centre, two years ago. But we must do more to encourage that spirit that dares to imagine new possibilities, new ways of working and living. 30 years ago we would have, who would have thought that one day we would all have mobile phones that fit in our pockets and that most of us would use them to send messages and emails, read books, listen to music, take photos and watch films and only occasionally to make a phone call. Now we cannot imagine life without them. We want young people from ASEAN to have that ambition, to create the must-have electronics, the new businesses and the everyday technology of tomorrow. ASEAN's future is their future after all. And if it is to be a global future, they must think beyond their home, their region and believe and know that young people in ASEAN are capable of doing just as much, if not more, than those in other parts of the world. Ladies and gentlemen, the future is one matter. But we must concentrate on where we are now and make sure we deliver in the short term to raise awareness of ASEAN and to provide tangible benefits to our people so that we build the ASEAN community, both in the minds and hearts of our people, but also in practical ways. It is high time we ensure there is an ASEAN lane in all our major points of entry across our ten nations and encourage the setting up of practical things like ASEAN food courts to develop a popular feeling amongst our people. We must speed up process, progress on the mutual recognition agreements that currently cover eight professions until qualifications become portable. Movement of skilled individuals around ASEAN will be seriously hindered and our productivity will suffer. We could start with the university degrees, allowing students to spend part of the degree in another ASEAN country. As ASEAN has no supranational authority, it is critical that decisions made at the regional level are enabled by domestic laws, rules and regulations. Immigration departments and professional regulatory bodies must help and not stand in the way of agreement on migration of skilled labour in professions such as engineering and architects. There are many other initiatives that need our determined support, such as the role of micro, small and medium enterprises in our economic integration and facilitate their participation in the ASEAN economy. That is especially important, given that over 95% of the enterprises in the region are MSMEs. It is vital that we press on. And fast, we are further integrating the services sector. While all ASEAN member states have shared commitments on over 100 services sub-sectors, equity liberalisation, for instance, varies from 30% to 70% with only a few services sub-sectors fully liberalised. Intra ASEAN trade and Intra ASEAN FDI should be increased further. While Intra ASEAN trade has hovered around 25% per annum of total ASEAN trade, which stood at $543 billion in 2015, we should aspire for these numbers to increase to at least 30% in the next five years. We also need to increase Intra ASEAN FDI, which stood at $24.4 billion, or 18% of total FDI into ASEAN in 2014. In short, ladies and gentlemen, what is required is nothing short of a complete transformation if ASEAN is to achieve its potential. We are to continue to be as David Lipton, the Deputy Managing Director of IMF, put it, and I quote, an example for developing countries around the globe that aspire to economic progress. We need a transformation of rules, procedures and habits, but we also need a transformation of the mind as we learn to think of ourselves more and more as ASEAN, act more and more as ASEAN, and then reap the benefits of being ASEAN. Our national identity and interests, I would like to argue, can coexist and even complement ASEAN's identity and interests. There should be practical initiatives to bind us. For example, Malaysia recently started Go ASEAN, the world's first ASEAN travel channel, that has gained international recognition for the region. Ladies and gentlemen, in Malaysia we have some experience of transformation. After I took office seven years ago, I introduced the Government Transformation Program and a new economic model. Our plans provided a sharp focus on how Malaysia's economic policies needed to change as well as the national reforms necessary in the public sector. And our plans have worked. We have created 1.8 million jobs, increased gross national income by nearly 50%, cap inflation low, and boosted FDI to record levels. They also helped Malaysia remain resilient during the global financial turmoil. We continue to record good economic growth despite the steep drops in the prices of oil and commodities. We have in fact exported our national transformation programmes by sharing our experience with countries in Africa and parts of Central Asia and India. Now we need the transformation of ASEAN. We have been criticised for moving slowly in the past. That might have been the right pace then as much of our region recovered from war and division. The ASEAN way may have been rather ponderous but it brought us unity, peace and prosperity. Today, however, we live in a fast-paced world and the demographic dividend of young populations will become a liability if we do not take active steps to integrate, innovate and advance. So set your eyes on what ASEAN can be. Then set your minds on how to empower our peoples to achieve that goal. Our chance is now. Let history record that we took it and set ASEAN on course to be one of the brightest stars of the ASEAN century. It is my honour to open the WEF on ASEAN 2016 and I look forward to seeing all of you again this evening. Thank you. Thank you dear Prime Minister and thank you for your introduction of our this year's motto which is shaping ASEAN's future towards inclusion and growth. Dear panelists, ladies and gentlemen, a warm welcome from my end. My name is Philip and I have the honour to moderate today's opening panel of our 25th World Economic Forum here in the region. And what Justin has mentioned, it's for the first time not only a summit of the World Economic Forum here in the region but with a specific focus on the ASEAN community thanks to the ASEAN economic community recently founded under the chairmanship of Malaysia. And so allow me to introduce briefly our distinguished panelists. Of course we just heard the Prime Minister of Malaysia, Najib Razak. We have also here the Prime Minister of Cambodia, Samdeh Tehshun Sen. We have the Prime Minister of Timor Leste, Riyo Maria Aruga. We have the Vice President of Indonesia, Yusuf Kala. And last but of course not least, the Deputy Prime Minister of Vietnam, Tindin Tsung. Excellencies, a warm welcome. We are very honoured that you are here today. And what you have heard, ladies and gentlemen, if ASEAN were a single country, it would be the seventh strongest economy in the world with the third largest workforce after China and India. However, a few gaps are remaining for ASEAN for realise its potential. We all know efficient and transparent institutions are critical for economic progress and social inclusion. They are necessary for reforms in order to re-establish trust between the leadership in the ASEAN community on the one hand and 625 million people on the other hand. So, since we are here in Malaysia, allow me to start our conversation by turning to our host Prime Minister Najib Razak. And we all know here in the room that Malaysia has very strong economic fundamentals. You just mentioned them. Well-educated workforce, excellent infrastructure, as well as a sizable middle class. But yet the trust of the economic community on a global level has been going down with a considerable focus on public investment and transparent governance. So allow me to ask you, what are the steps which your government has taken in order to re-establish trust and to re-establish the trust of the business community in Malaysia's economic, social and political fundamentals? Thank you. First of all, let me say that you mentioned the fundamentals are strong and that's been well-recognised. And I believe that we should concentrate on strengthening the fundamentals. First of all, we should not be over-reactive to short-term conditions because we believe there will be self-correction in the market. Number one, if you take, for example, interest rate changes, expected changes in America, when that didn't take place the first four months of this year, the ringgit was the best-performing global currency for the first four months of this year. So in that sense, if you concentrate on the fundamentals, the market will be self-correcting. Number two, we have to look in terms of what are the factors you can control and what are the factors you cannot control. I'll give you an example, factors we cannot control. For example, a 1% drop in the growth of China leads to a 0.4% slowdown in the Malaysian economy. A $1 drop in the price of oil leads to a $450 million loss ringgit in emulation revenue for the government. So those are the factors we cannot control. What are the factors we can control include the fundamentals, we can make the economy more resilient, or we can ensure what you alluded to, the trust, the confidence by ensuring investor protection, by ensuring that the regulatory bodies in the country are allowed to do their jobs. And by doing that, we can establish a high degree of confidence and the fact that foreign direct investment has been going up in Malaysia by 22% per annum means that there is confidence, general confidence in Malaysia. The problem is a problem of perception, the problem is a problem of noise level outside. The noise level is rather high, I admit it, but it belies the strong fundamentals and the commitment of the Malaysian government to continue reforms in this country. Thank you Prime Minister. Allow me to turn now to Cambodia. So we have seen the last 15 years a remarkable growth by 17%. So our question is, so what will be the future, the near future, particularly in terms of inclusion and to lift many people out of poverty in your country in Cambodia? Excellent. Konro sir. Thank you, roster. First of all, I would like to express my thanks and high appreciation to the speech delivered by Excellencies Prime Minister, Malaysia, Najib Rajat. Responding to your question in relation to the Cambodian academic growth, Cambodia is truly receiving high progress, the average of 7.7% per annum for 20 successful years. This point, it starts with Cambodia is determined to join ASEAN and this point we should also be reminded a bit that interest in the speech of Najib Rajat. Where is ASEAN now? That's the point we should put it as a political point and academic point. 30 years ago whether all of you here, young or old have been thinking there will be ASEAN today because then Southeast Asia was divided into two umbrella between one side ASEAN and the other side the Indochina countries and Myanmar exclusively. We did not know that there will be 10 ASEAN and that they're going to be the 11 ASEAN when Timulus joins ASEAN later. But ASEAN has been successful that reached the stage of unity in the framework of Southeast Asia under Angbuan umbrella. But economy in which Cambodia has reaped is on the point now. The initiative of ASEAN integration between all ASEAN with high development with new ASEAN. That is also a part which has reached the academic progress with the level of 7.7% per annum for 20 years. The last few years even the world academic crisis and lately there is the Chinese academic slowdown Chinese and Indian close down but Cambodia still maintain the academic growth of 7.7%. But what we are concerned is that the ASEAN academic community there remain many challenges. If we talk about the whole ASEAN market this is a big economy. But one should not forget that ASEAN consists of the last developed ASEAN country and high developed ASEAN country. In addition to that, ASEAN itself is competing within itself. As an example in the framework of ASEAN the four countries that have food for export Vietnam, Thailand, Myanmar and Cambodia. We have food for export. In general these four ASEAN countries and developed countries all compete with each other. At the time the developed countries do not have much goods to compete with each other. So that is one part. One part is that each country extracts investment for indirect investment. So we are also competing with each other to get FID. That's the point we need to find coordination to find for policy that could guarantee there will be such a competition to get one piece of meat. Let's say for example at the time we like to sell food to outside. We Vietnam drop the price, Thai drop the price, Cambodia drop the price, Myanmar drop the price and finally our production will have an elite profit. At the same time one should not forget that. Industrial revolution, higher technologies today is so advanced which benefit many countries. That includes not just Cambodia and other countries. The IT provides the opportunities for the progress of all. But one should not forget the reason that could happen in which instead of industrial revolution or advanced industry. Let's say in the coming time if there is a finding of the artificial rubber, replacing rubber. How about Malaysia that have rubber plantation, Thai Indonesia and Vietnam, Cambodia that have rubber plantation. So what the farmer has to chop down the rubber tree? That is a high risk. So there is a finding of artificial rubber that could replace the natural rubber. Then because the loss of jobs for many farmers. Industrial revolution that use a robot. The more they use a robot. And how about the people that are now employed. They have to think the safety network among Asian countries. Because Asian in Malaysia is a country that short of labor force. But don't forget that in Philippines, in Vietnam or in Cambodia we export labor. That's all the challenges. And Cambodia will continue its effort to maintain economic growth is around 7 percent and reduce poverty more than 1 percent per annum. But the point to be taken into consideration is the poverty line in which the people that have the poverty line and those who drop under the poverty line is so close to each other. So the natural disaster happens more frequently. Even that cause those who cross the poverty line is easy to drop to under the poverty line. That's the point we are now paying attention to. Thank you. And given that T-Molester has been already mentioned so I would like to ask the Prime Minister given that you have 60 percent of your population younger than 25 years. So what does it mean particularly in terms of inclusion and future jobs for your youth for your next generation? Thank you. Excellencies, Prime Ministers, Mr. Vice President of Indonesia, Deputy Prime Minister. First of all, allow me to share with you the experience that we had in T-Molester. We restored our independence 14 years ago with the support of the international community, particularly with friends in Asian, including Malaysia and also Indonesia and other countries. Our economic development during the last ten years were mainly driven by public investment. We were fortunate enough to have some oil and gas revenues accumulated in a petroleum fund which has been used to mainly drive the economic development of the country. The growth during the last five years reached double-digit but you have to go realistic that was driven by public investment. We have been trying to attract more private investors to the country. We established some basic ingredients for foreign direct investment to come to the country. We are starting to see some results now. Recently we signed an agreement with a cement factory. A beverage factory has been established in the country. So there are signs of increasing attraction for foreign investment in the country. We have to acknowledge that we face a lot of challenges. Our population is young. The education level of our population is still very low. There is a huge scale mismatch between the skills that are produced by our education system and the need of the market. We are introducing a lot of reforms. The government that I am leading took office one year ago and we started to introduce some reforms, particularly four main reforms with the aims of establishing the foundation for economic diversification so that during the next coming years we will be less and less dependent on our petroleum fund. Those reforms include particularly in the public administration. We are trying to introduce a more merit-based public administration, civil service recruitment in order to make sure that our public administration respond to the needs of the business community in order to invest in our country. We are also going through reforms in our legal system, adjusting the regulatory framework that would be more investment-friendly to foreign-direct investment. We are going through a reform on our land acquisition, land titles, expropriation laws so that it could create an appropriate environment for investors to come. We are also focusing on some of the specific areas that we think would be of high priority for us to develop in order to support our economic development. Tourism, agriculture, manufacturing industry, oil and gas industry are being part of that. Framework of priorities that we think will be helping a lot in our country. We realize that in terms of growth we've done so far what was... we did our possibilities to do. In terms of inclusiveness, we've, as you all know, we are a post-conflict country coming out from a fragile situation. The priority that we had in Timor-Leste was to secure peace and stability and build the state institutions in order to support the social and economic development. And one of the priorities was to establish a reconciliation process, particularly in our community itself, and also with our neighbour Indonesia. And I'm proud to stay here, and I think Vice President of Indonesia is also here. Timor-Leste is now a... Timor-Leste in Indonesia is now a good example of reconciliation and friendship established through a process of dialogue and it's becoming very good neighbours. And Indonesia is supporting Timor-Leste in developing its economy and also Timor-Leste is supporting Indonesia. So the priority in terms of inclusiveness is to establish reconciliation within the community. And then during the last 14 years we had focused on the most vulnerable communities in our society, former freedom fighters, combatants, the elderly and the widows and women. We've tried to come up with social benefit schemes that could give them some lay weight to participate in the economic development of the country. We are working hard to include women as much as possible in the process of decision-making and in the process of socio-economic development because we believe that the inclusion of women will also have a great impact on the inclusiveness of the economic development of the country. So in a sense, we are still very young. We've come so far 14 years. We've done what was within our possibilities to establish the foundations. We're very conscious of the challenges that we are facing. We are also very conscious of the support, the opportunities that the Asian community is providing. And we believe that with the integration of the societies and communities within Asian and the internal efforts that we are doing in Timor-Leste we will be able to meet the challenges that we are facing in the country. Thank you. Thank you, Prime Minister. And if we are talking about reforms, what comes to our mind, of course, Indonesia and you already mentioned Indonesia. So since you have taken over the responsibility since two and a one and a half years, so what is from your perspective the most critical issue in terms of inclusion and growth? Yes, thank you, Philips. First about ASEAN, I think we are very happy ASEAN as Prime Minister Najib explaining that ASEAN is now growing from cooperation to more communities. Compared with the other regional corporations, I think we are more advanced because ASEAN can be a union as well as a unity between countries. You don't compare with East ASEAN or South ASEAN. It is not easy to make a unity because of so many problems. ASEAN itself is very stable in politics and that's why we are working. Many things we can do, for instance, how to develop connectivity between ASEAN as well as a good planning for connectivity should be done in ASEAN as well as standardisation because to make our industry between us to complementary should be standardisation in ASEAN including in education. For Indonesia, of course, our philosophy of a country is equality and prosperity. I see the same as many countries this objectively philosophy, but experiences many countries including Asia to make equality has been inclusion for the others should be hard-working, working for hard, but we are not 1% to occupy 90% not, but if we should work hard to make more inclusion in any matter. The problem first thing is how increasing the level from small and middle company to more actively. That's why we are so many big programs in current terms, financial inclusion of the countries. This is one massive program for our terms now on. Besides to Indonesia as big archivalogues countries though easy to make easy connectivity, but you should working about that. That's why the first priority, of course, same many others in infrastructures. Infrastructure in everything including electricity and road and so on. The second thing to make inclusion is how to increasing of agriculture because it's still around 40% of people working in agriculture, productivity in agriculture is very important to the others. And to make more job need manufacturing. This is one thing that connected each other. There's FDI, we are now same as many countries in Asia, many big priority, but we are working for that. And the third thing, forcing is services including tourists. We are to improving the all capacity to improving the service sector. We are more open countries, more stable in the Asia and Indonesia in politics, no much problems. That's why the whole ASEAN, they are establishing politics and security. This is one thing our biggest capital to more cooperation. And Indonesia itself working how to increasing the equality as you mentioned that very important for the countries to make more stability. As a country that majority Muslim 80%, I think usually make a simple how can be cooperate pluralism moderate. This is one thing our capital to move in the country. But for making inclusion, the same as Prime Minister Honsen say how competition, because ASEAN cooperation, competition, competition in cooperation or cooperation in competition. It's one thing like labor. Many big companies around the world have making us compete too. For instance production of shoes or garment. They say okay we can purchase here if the price is $15. But if not they can't come to Cambodia. If not to Cambodia, they can't see the others Vietnam. Okay, Vietnam can make it 15. You cannot make it. This is meaning they making ours and they sell it in many countries $100. You buy $100. But they buy in our country for $15. It's not equality, inclusion, not only because of our capacity but we shall cooperate around the world to make inclusions with cooperation. Don't push us. Don't push our labor to compete to make more cheap, cheap, cheap, cheap. And then we go to other countries who make it cheap. This is one thing ASEAN will cooperate to make up for its minimum salaries in ASEAN. Not only Indonesia minimum salary but ASEAN minimum salaries. And not for those industry change the food in competitors. Maybe they say oh Vietnam like this we should do that. And only they receive less than $100. How to make equality if the minimum $100 because competition. This means that's why one thing ASEAN could cooperate in this matter because if the world or you making more salaries, more income to the people in countries and the buyer on the purchasing power increasingly they can buy more product from other countries including your countries. You should think like that. Not only make our cheap, cheap, cheap but how to increasingly the productivity and productivity in the country and buy power for the country and the world will be moving. Thank you. Thank you, Mr. Vice President of Indonesia. And let me ask the Deputy Prime Minister of Vietnam. So you have now a new leadership and congratulations recently been appointed as Deputy Prime Minister. And the business community would like to know what will happen to the reform started in 1986. Will they go ahead and so please give us some comment particularly on the light of inclusion and growth. Excellent. Thank you very much for the question. First of all I want to express my sincere thanks to the organizer, to web leaders for hosting a very important meeting today. And as for Vietnam, Vietnam launched its reform since 1986 and after 30 years of reform, Vietnam has attained important and remarkable accomplishments in many fields. For example, we maintain high growth rate and the economic structure of Vietnam is shifting towards a higher level of industry and services and we made remarkable changes to the people's life. We respect and we attach its great importance to the economic rules, the market economic rules and Vietnam is deepening its international economic integration and Vietnam is now a very active member of ASEAN. And as such, as a result Vietnam has become a lower middle income country. In addition to the achievements, we fully are aware that Vietnam is facing no small challenges like other ASEAN member states. For example, the questions of competitive nets and the question of quality of growth. Therefore Vietnam is promoting and accelerating its reform and integration. And I'm sure that those are the major challenges that Vietnam is facing and therefore Vietnam needs stronger reforms. We are striving to upgrade the infrastructure development in Vietnam, especially the transportation network. Now there is a gap in infrastructure development of Vietnam that we are trying to resolve. We want to increase more sources for infrastructure development. And Vietnam boasts a very young population, skin-foom workers, but we want to really improve the qualifications of the workforce of Vietnam and to meet the demands and requirements of the fourth industrial revolution. Vietnam has many challenges lying ahead. And Vietnam is not alone. I think those challenges also face other ASEAN members. We are all facing the non-traditional security challenges that are threatening peace and stability of our region. And in order to resolve all those matters, I believe that at present and in the coming years Vietnam is focusing on economic restructuring. We are seeking for a good economic model and the growth paradigm for Vietnam, especially Vietnam is taking advantage of the demographic bonus and we want to upgrade the educational system to meet the demands of business community by generating a higher standard generation of labor force. And Vietnam is also concentrating on speeding up the economic restructuring for the national development and to deepen the international integration to continue showcase this high level of commitments of Vietnam to the region and the world. And Vietnam is making many breakthroughs. For example, we're conducting reforms in market, in building the market economy institutions. We want to make sure that we have a transparent environment for business community and for entrepreneurs as well. And this is really very important to the national development of Vietnam. And I entirely agree with Prime Minister Najib Rajak. And I think that all we should continue facilitating the empowerment to the people and to the business community. And Vietnam is trying to enhance infrastructure, especially the transport network in Vietnam, because this is a really important neck to Vietnam's development. And Vietnam is giving high priorities to education and training. Education always tops our development agenda. I believe that when the people get easy and equal access to education opportunities, they will have greater equity and equality in approaching the sources of the society and the community. So then they will be empowered fully and they can create their own products and improve their competitions. And therefore in Vietnam, we are incorporating inclusive growth concept in every blend of action and in every national program. And we gain the success as well. We are dealing with the relationships between economic growth and the benefits that distributed to the people. And I trust that everyone has the right to have the equal access to the development sources. And the state and government must have the responsibilities to make sure that our people can benefit from the high quality growth. In addition, the state can act like the regulators. And we have the responsibility to support the vulnerable groups, especially the farmers in rural areas. For example, Vietnam, Vietnamese people mainly live on agriculture. And therefore we always facilitate and improve the people's life and people's living conditions in rural areas of Vietnam. And to achieve this goal, we combine the objectives of industrialization and agricultural development. Of course, we reduce and downsize the workforce working in agriculture and improve and increase the workforce working in industry and services. But we want to make sure that after economic restructuring, the farmers will not be left behind. And we will create higher values for the farmers and the people working in industry and services will benefit in the same way as the farmers can gain from our economic growth and development. And therefore it is my hope that Vietnam can absorb more investments from international community. And I think that only by improving the business and investment climate can we attract more investors to Vietnam if we have a level of playing field and if we have equal access for all economic players in Vietnam, especially to land sources, to capital sources, and also the administrative procedures are very important for the implementation of the business projects. And I hope that the ASEAN member states will join hands together in the sense of unity and solidarity to make our family very strong in absorbing the investment from the international business community. On the one hand, we need the concerted efforts to improve our synergy. But on the other hand, of course we do have the competition. That is the rule of the market economy. We compete one another. But we also produce the complementary strands. That's when we all can benefit from that. And I think that in a very big economic space like we have today we can enjoy complementary advantages from one another. Thank you very much. Ladies and gentlemen, now I'm a little bit in a difficult situation. As you know, the World Economic Forum is an international organization. But even though we are based in Switzerland, that means we have to finish and to close right in time. So therefore, let me now guide you into the rest of our summit after having such an important input by the respected leaders about their ideas, visions and strategies for ASEAN in terms of growth and inclusion. It's now in you to use this summit to turn all these ideas into reality. To use particularly technologies, what you all mentioned, and Professor Schwab coined recently the term of the forced industrial revolution that could be even sometimes challenging, but at the same time it's a great opportunity for the ASEAN community for 630 million people. So, Excellencies, thank you very much for your great contribution for this opening panel and please ladies and gentlemen, a big hand for our today's panelists.