Borneo Bulletin, ASEAN (21 January, 2021) - During the ASEAN Business Advisory Council’s (ASEAN-BAC) 2021 Chairmanship Handover Ceremony at the International Convention Centre in Brunei, ASEAN Secretary-General Dato Paduka Lim Jock Hoi commended the ASEAN-BAC for developing its 2021 Legacy Project entitled ‘Harnessing Impact with Resilient Employability Digitally’ (HIRED), which will play an important role in supporting the recovery by strengthening the capacity of ASEAN human capital to embrace the future of work and digitalisation.
He applauded the ASEAN-BAC for its commitment to close cooperation with the ASEAN Future Workforce Council (AFWC) to implement this Legacy Project. This is a good and sound approach since the AFWC is one of the private sector representatives in the ASEAN Technical and Vocational Education and Training (TVET) Council, which is a multi-sectoral and cross-sectoral body with a vision to advance TVET in ASEAN for enabling future-ready human capital with higher productivity to embrace the digital economy.
Through the partnership with the AFWC, he added, “You can channel the output resulting from the Legacy Project to be further discussed with the ASEAN TVET Council and to support ASEAN’s efforts in strengthening the capacity of its human capital.”
The ASEAN Secretary-General urged the need for the private sector’s aid in the recovery initiatives.
“We need the private sector in financing the recovery and mobilising resources for various initiatives under the recovery framework. For example, the private sector can work with the government in setting up some kind of liquidity fund to support small businesses with grants and working capital loans to make them viable again.
“In addition, they can support the production of medical supplies that will still continue to be needed during the recovery phase,” he said.
While financing is one priority, he said another imperative is sustainable investment such as green infrastructure and other low-carbon investments that have high multipliers and other attractive co-benefits. To do this, it will be critical to get the investment decisions right by strengthening public and private finance, as well as mobilising all financing tools for a sustainable future of ASEAN.