As countries and businesses prepare for economic recovery from the pandemic, it is possible to harness the renewed mindset, leveraging future challenges as new opportunities for ASEAN.
With substantial digital transformation expected in the coming years and the potential unlocking of sustainable natural capital opportunities such as nature-based solutions, the ASEAN region has enormous potential to develop digital capabilities and green developments. .
The importance of embracing digital transformation was highlighted by Hajah Farida binti Dato Seri Paduka Haji Talib, Managing Director and CEO of Brunei LNG, in his special address at the ASEAN Business and Investment Summit (ABIS) 2021 which was held practically yesterday.
The ABIS included opening speeches by His Majesty Sultan Haji Hassanal Bolkiah Muizzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar Ali Saifuddien Saadul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam, Australian Prime Minister Scott Morrison, of Cambodian Prime Minister Hun Sen, Canada Prime Minister Justin Trudeau, Indonesian President Joko Widodo, Malaysian Prime Minister Dato Sri Ismail Sabri bin Yaakob, British Prime Minister Boris Johnson and Vietnamese Deputy Prime Minister Pham Binh Minh.
“The world is in a constant stream of change. Change is a necessary ingredient for evolution, the next necessary step for our society to move forward. As we look forward to bouncing back from COVID-19, the capacity of people becomes essential to drive digitization and sustainability efforts as we move from the industrial age to the age of networks, ”said Hajah Farida. The move towards Industry 4.0 is about to disrupt the traditional way of doing things, she said, adding that “connectivity and automation on a larger scale can increase productivity and performance. , moving away from traditional business mentalities and the traditional value chain.
“The possibility of broader seamless digital integration opens the door to economic growth if it is done in an inclusive manner.
“The COVID-19 pandemic is a stark reminder that what we consider normal lacks permanence and underscores the importance of equipping ourselves with the capacity to thrive through rapid change.
“Strategic discussions on digitization have accelerated to become an operational imperative as many adopt and rely on digitization tools to stay sustainable in the new normal.
Digitization, she added, “for me it’s not a new way of working, but a way of working that needs to be accelerated. A way of working that we must preserve for the future.
She also said: “The impact of climate change is real and is happening now; loss of sea ice, accelerated rise in sea level and a longer and more intense heat wave across the world, calling for more intensive efforts to prevent further disasters. We are all playing our part in supporting the climate change agenda and ensuring that there is a sustainable future for our children and their generations of children ”.
Approaching her home, she said that “the ASEAN economy is expected to be the fourth largest single market in the world after the European Union (EU), the United States (United States) and China. by 2030. With this projected economic and demographic growth, its energy consumption (TFEC) in the baseline scenario is also expected to grow 146% in 2040, creating the challenge for ASEAN to find a path that can integrate a holistic approach to meeting their energy security needs along with their aspirations for economic sustainability.
“Brunei LNG is proud to be one of the main joint sponsors of ABIS and the ASEAN Business Awards (ABA) 2021, led by ASEAN Business Advisory Council Brunei.
“I believe that a platform like ABIS can foster thoughtful discussions between international leaders, key industry players and promote the spirit of collaboration between public and private partnerships to pave the way for solutions to meet future global challenges.
“Personally, I am heavily invested in this futuristic society that we could all create together. It also reaffirms our commitment as an industry leader in promoting sustainable energy solutions and as a trusted partner with Her Majesty’s Government as the country moves towards a low-carbon, resilient nation in the world. climate change “.
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