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Joint Press Statement of the ASEAN Heads of Investment Agencies Meeting
Manila, Philippines, 3-4 July 1997 |
- The Heads of ASEAN Investment Agericies (AHIA) met on 3-4 July 1997 in Manila, Philippines.
- The Meeting expressed its commitment to the full realization of the ASEAN Investment Area. Towards this end the Meeting agreed to work towards further enhancing investment flows into and vathin ASEAN. Cooperative endeavors and strategic alliances amongst ASEAN member countries would also be strengthened.
- The efforts in laying down the foundation for the establishment of the ASEAN Investment Area (AIA) is a commitment towards the realisation of the vision of the ASEAN Heads of Governments. This is one tangible sign that ASEAN is already beginning to turn its vision into a reality. Progress on formulating the framework agreement for the AIA, which is based on the recommendations of AHIA in their Meeting last year in Jakarta and which was accepted by the ASEAN Economic Ministers, is now proceeding fruitfully with the involvement of the Senior Investment Officials. This will enhance the integration of ASEAN as an investment region so as to achieve the vision of the ASEAN Leaders as envisaged in the Bangkok Summit Declaration 1995, that is , "to establish an ASEAN Investment Region which will enhance ASEAN attractiveness and competitiveness for promoting direct investments."
- Since the last Meeting of the AHIA, significant progress in ASEAN investment cooperation has been achieved. The Senior Officials' Meeting on Investments (SOM-1), established in July 1996 by AHIA, has facilitated and implemented various ASEAN investment cooperation programs and activities. The Meeting has recognized the progress of the Work Programme of 1996-98 to implement the ASEAN Plan of Action on Cooperation and Promotion of Foreign Direct Investment and Intra-ASEAN Investment.
- Projects implemented under the Work Programme include, among others, joint training programmes, high level strategic planning Meetings, Protocol to amend the ASEAN Agreement for the Promotion and Protection of Investment and a comprehensive survey on promotion of FDI into and within ASEAN.
- On-going projects include an ASEAN Supporting Industry Database which is currently being finalized by Thailand. The development of an ASEAN Technology Bank which will consist of a directory of ASEAN- owned technology suppliers is also currently being explored. In line with AHIA's efforts for befter access to investment information and transparency of investment regimes , ASEAN has agreed to link the websites among its member countries to the ASEANWEB (http://www.aseansec.org). In the ASEAN spirit of cooperation, assistance will also be provided to other member countries in the development of their homepages.
- ASEAN is also promoting itself as a single investment region through joint investment promotion efforts. A number of investment promotion events will be held in Europe and the Far East in late 1997 and mid-1998.
- In conjunction with the 30th ASEAN Anniversary in 1998, the ASEAN Heads of the investment agencies have agreed to convene an ASEAN major event which would involve ministers of ASEAN countries and world corporate leaders. The conference will serve as a platform for private sector companies to meet, interact, and explore the opportunities present in the region.
- Cambodia and Myanmar attended the Meeting as observers. Cambodia was represented by Mr. Vichit Ith, Secretary General of the Cambodian Investment Board and Myanmar by Vice-Admiral Maung Maung Khin, Deputy Prime Minister and -.Chairman of Myanmar Investment Commission.
- The Meeting was hosted by the Philippine Board of Investments (BOI), chaired by Hon. Melito S. Salazar, Jr., Vice-chairman and Managing Head of BOI and attended by Mr. Haji Abdul Wahab Bin Hj Juned, Director- General of Policy and Planning, Ministry of Industry and Primary Resources, Brunei Darussalam, H.E. Sanyoto Sastrowardoyo, Minister of Investment/Chairman of Investment Coord;nating Board, Indonesia; H. E. Tan Sri Datuk Zainal Abidin bin Sulong, Chairman of Malaysian Industrial Development Authority, Malaysia; Professor Lim Pin, Deputy Chairman, Economic Development Board, Singapore; H.E. Staporn Kavitanon, Secretary General, Board of Investment, Thailand; H.E. Nguyen Nhac, Vice Minister, Ministry of Planning and Investment, Vietnam; Dr. Chee Peng Lim, Director of Economic Bureau, ASEAN Secretariat; and, their respective delegates.
- Singapore will host the next AHIA Meeting in July 1998.
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