Businesses found "golden investment opportunities" at the 2010 World Economic Forum on East Asia held in Vietnam, said Co-chair Frans W. Muller as the event concluded.
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| A discussion held as part of the 2010 World Economic Forum on East Asia in Ho Chi Minh City. |
Muller, a member of Germany’s Metro Corporation Board of Directors, was impressed by Vietnam’s growth figures from last year. He held that while economic development in Europe was slowing down, the Asian economy was expanding steadily. As a result, he said, his corporation will continue to invest in the steadily emerging market of Vietnam.
"As early as next week, Metro will work with Vietnam's Ministry of Agriculture and Rural Development to discuss large-scale investments in the country," Muller said.
Summarising the two-day event, WEF's managing director Robert Greenhill said over 450 participants from all over the world had shared many development experiences and devised long term strategies.
“The East Asian outlook will lend momentum to the rest of the world,” said Hemant M. Nerurkar, CEO of the Tata Steel Group, prior to the opening ceremony of the WEF on East Asia. The Indian corporation plans to build its presence in Vietnam, citing as reasons the young population as well as the rising standard of living and capacity for consumer growth.
Andrei L. Kostin, Chairman-cum-CEO of Russia’s VTB Bank, said that 20 years ago Asia mainly produced goods for export, but that now it can undoubtedly meet the demands of domestic markets.
Prof. Klaus Schwab, WEF Executive Chairman, affirmed this as one of the most successful forums that the WEF has ever held so far with a wide range of activities and impressive results.
He emphasized ASEAN’s great potential for development, saying the bloc is becoming an important factor for the development of the world economy, and will soon play a central role, both politically and economically, he stressed.
According to Sushant Rao, the WEF’s Regional Director for Asia, the 2010 WEF on East Asia was more successful than expected, citing the largest ever number of participants and the presence of many governments leaders and executives of the world’s large groups.
He spoke highly of Vietnam’s remarkable contributions to the 2010 WEF on East Asia as ASEAN Chair.
Meeting with the media after the WEF forum, Vietnamese Deputy Foreign Minister Doan Xuan Hung said the biggest result the 2010 WEF on East Asian brought to Vietnam was that it gave international enterprises and scholars a chance to see with their own eyes a stable and dynamic Vietnam and Ho Chi Minh City as well as open and friendly Vietnamese people, thus raising the image of Vietnam in the international arena.
Green technology plays a vital role in sustainable development
How to encourage Asian countries to develop more green technology was the question on everyone’s lips during the event.
Vietnamese Deputy Minister of Natural Resources & the Environment Nguyen Thai Lai said that Vietnam is one of the nations most vulnerable to climate change.
Establishing a new programme to cope with the challenges presented by climate change, the Vietnamese government has announced a decree on environmental protection.
Stuart Dean, Chairman of General Electric Asean, said his company invests $5 billion per year in producing environmentally friendly products. “Developing green technology not only projects a good image of GE but also brings about sizeable profits. Green technology and saving energy are the best solutions,” he added.
Carl Lukach, Chairman of Japan’s DuPont Asia Pacific stressed, “Sustainability is an essential factor in doing business. Renovation allowing for the development of green technologies is the only way to maintain it.”
Frans W. Muller from Germany’s Metro Group said that his company plans to effect a 15% reduction in gas emissions by 2015. They have called on offices worldwide to take responsibility for their energy consumption.
These three business leaders presented strong evidence in an effort to convince other entrepreneurs that development of green technology and reduction of gas emissions and energy consumption are the elements most critical to sustainable development.