Sustainable investment is no longer just a common term but has become something that the ASEAN Business Advisory Council puts at its vital core in developing and moving ahead.That remark was made by Bernardino Vega, Co-Chair of the OECD-SEA Business Network, at the Business Roundtable and Public-Private Policy Dialogue yesterday.He said the importance of sustainable development and investment is crucial in ASEAN. It lies in the potential to foster economic growth while simultaneously safeguarding the environment, promoting social inclusivity, and adhering to robust governance."Sustainable development encompasses a diverse array of opportunities, which include renewable energy, green infrastructure, and responsible agriculture," said the Co-Chair.He also said sustainable investment would not only steer ASEAN towards a more balanced and resilient economy but also contribute significantly to attaining the UN goals on sustainable development.Andrea Campagnoli, Founding Partner of Bain Vietnam, said there is a marked increase in efforts and actions from a number of parties in Southeast Asia (SEA) when it comes to energy transition.Eight out of ten SEA countries have net zero or carbon neutrality commitments, and seven out of ten are now considering or have carbon pricing/taxes. In light of the Paris Accord, corporates have increased four times their science-based target commitments and objectives.Regarding the FDI regulatory restrictiveness index, the ASEAN average is still much higher than the OECD and some other non-ASEAN countries, indicating that several ASEAN member states are still quite restrictive in terms of FDI.The country also has a robust model for public-private partnerships, especially in infrastructure projects, which often include sustainable criteria. It has been a leader in testing and expanding the scope of blended finance and international sustainable development, piloting innovative approaches that facilitate unconventional partnerships.A memorandum of understanding was signed at the dialogue. (ICE HO CHI MINH CITY)

Fonte notizia: Vietnam News