June 22, 2021

eVestment to Drive Transparency and Data Standardization of Diversity, Equity and Inclusion in Asset Management

DEI data will be available for all investors free of charge through eVestment platform

ATLANTA, June 22, 2021 (GLOBE NEWSWIRE) — eVestment, a Nasdaq company and a global leader in institutional investment data and analytics, will make its asset manager diversity, equity and inclusion (DEI) data available for investors free of charge in an effort to improve transparency and standardization across the industry. The initiative is intended to provide an efficient and streamlined process for diversity disclosure. While the reporting is entirely voluntary, over 20% of the asset management firms on eVestment, representing 6,182 strategies, have responded to the DEI data collection program since January 2021.

Access to consistent, reliable and accurate data is critical to advance transparency in DEI. eVestment is committed to working with asset managers and asset owners to improve the data collection and discovery framework, and empower investors with DEI statistics on both firm and strategy levels.

“The investment community is on a journey in creating a more inclusive environment and ensuring that asset managers hired by pensions, foundations, family offices and endowments better reflect the diversity of asset owners and the end beneficiaries,” said Lauren Dillard, Executive Vice President and Head of Investment Intelligence, Nasdaq. “Institutional investors representing trillions of dollars in assets already leverage eVestment for data and analytics. Our mission is to build on that community to further the industry progress in diversity and inclusion.”

In January, eVestment launched the updated DEI questionnaire as part of a new industry-wide DEI data collection initiative, now dubbed the Institutional Investing Diversity Cooperative. The questionnaire offers asset managers options to highlight both qualitative and quantitative aspects of their DEI efforts.

Additionally, recognizing that asset owners seek to understand the state of diversity and inclusion across the entirety of their portfolios – both public and private markets strategies – Nasdaq is collaborating with the Institutional Limited Partners Association (ILPA) and FCLTGlobal to extend the effort to a standardized approach for making data from private fund managers available to Limited Partners, reflecting diversity of leadership and decision making at both the fund manager and the portfolio company level. As with the IIDC collaboration, this effort encompasses both the quantitative and qualitative, contextual data that illustrates how managers are advancing DEI in their own organizations.

Asset owners are demanding data beyond headline ownership stats, and the new questionnaire gives managers the ability to highlight information like hiring practices and mentor programs that promote diversity, equity and inclusion in their organizations.

Key findings from current data collection initiative include:

55.3% of key professionals at the firms reporting DEI data are white males. The second largest group is Asian males, at 12.15% followed by white women at 9.43%. Black males only made up 1.86% of the key professionals at firms reporting data and black females made up only .59% of key professionals at reporting firms.
322 strategies across 48 firms report that some percentage of the decisions makers on their teams are military veterans.
288 firms indicate they have mentorship programs available for women and minorities and 244 firms indicate they have a pay-parity policy in place.

In developing the questionnaire, eVestment recognized that under laws in various U.S. and international jurisdictions providing diversity statistics might not be allowed. For instance, 87 firms reporting to eVestment report they cannot supply DEI data due to firm policy and 74 firms report they can’t provide data due to privacy regulations and laws in their area that impact all or some of the team. Similarly, for very small teams, providing diversity statistics could highlight personally identifying information that firms or members of firm teams might prefer to keep private. In these instances, the commentary sections become even more important.

Existing eVestment clients can access this information at no additional cost. Investors that are not eVestment clients can contact solutions@eVestment.com or visit www.evestment.com/diversity to learn how they can access it free.

Dillard will be participating on a panel discussion the topic of diversity in the investment business at the virtual 2021 CalPERS and CalSTRS Diversity Forum on June 22. For more information or to register for the free conference, please click here.

To view the entire eVestment DEI questionnaire, please click here.

About eVestment

eVestment, a Nasdaq company, provides institutional investment data, analytics and market intelligence covering public and private markets. Asset managers and general partners reach the institutional marketplace through our platform, while institutional investors and consultants rely on eVestment for manager due diligence, selection and monitoring. eVestment brings transparency and efficiency to the global institutional market, equipping managers, investors and consultants to make data-driven decisions, deploy their resources more productively and ultimately realize better outcomes.

Press Contact
Mark Scott
mscott@evestment.com
678 238 0761

June 22, 2021

Philips announces first patient enrollment in DEFINE GPS global multicenter study to assess superiority of PCI procedures guided by co-registered iFR and interventional angiography

June 22, 2021

First patient enrolled in global randomized controlled trial with up to 3,200 participants at 100 sites comparing patient outcomes after percutaneous coronary intervention (PCI) procedures guided by iFR data co-registered on the angiogram (interventional X-ray image) versus the current standard of care, an angiogram alone
One of the largest-ever studies sponsored by Philips highlights company’s commitment to providing a strong evidence base for its innovations in the pursuit of better patient outcomes, enhanced patient and staff experiences, and lower cost of care

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced the official start of the DEFINE GPS study, with the first patient being enrolled by the study’s Principal Investigator, Dr. Allen Jeremias, at St. Francis Hospital, New York (U.S.). The global, multi-center, prospective, randomized controlled DEFINE GPS study will investigate if guidance by instantaneous wave-free ratio (iFR) measurements co-registered on the angiogram demonstrates superior outcomes and improves the cost-effectiveness of percutaneous coronary intervention (PCI) procedures to open blocked coronary arteries. DEFINE GPS employs an adaptive study design, estimated to include up to 3,200 participants across 100 sites worldwide and will be one of the largest studies ever sponsored by Philips.

European and U.S. clinical guidelines already endorse the use of physiological measurement of coronary function in PCI procedures, with iFR and fractional flow reserve (FFR) measurements being used to diagnose the significance of a narrowed coronary artery and determine patient selection for treatment. While iFR uses the same pressure guide wires and equipment as FFR, it avoids the use of hyperemic agents (vasodilators) such as adenosine that can adversely affect some patients.

The DEFINE GPS (Distal Evaluation of Functional performance with Intravascular sensors to assess the Narrowing Effect: Guided Physiologic Stenting) study will evaluate the use of iFR measurements in combination with Philips Image Guided Co-Registration System – SyncVision – to enhance PCI guidance and provide superior treatment outcomes. DEFINE GPS is a follow-up to the DEFINE PCI study [1] – a one-year trial sponsored by Philips that evaluated the potential of treating residual ischemia in order to improve clinical outcomes for coronary stent patients.

“The DEFINE GPS trial, designed to explore the promising hypotheses that emerged from DEFINE PCI, is a landmark trial that heralds the promise of post-PCI physiologic assessment,” said Dr. Gregg W. Stone, Chairman of the DEFINE GPS trial and the Director of Academic Affairs for the Mount Sinai Heart Health System, New York. “While the benefits of physiology prior to PCI are unquestioned, this large-scale trial will definitively demonstrate whether after an angiographically successful PCI procedure the identification and treatment of unsuspected residual ischemia by routine iFR assessment can further improve patient event-free survival.”

“Conducting rigorous clinical science is how we advance patient care, and, like the seminal FAME study that was carried out over 10 years ago, I believe DEFINE GPS has the potential to change the current standard of care in PCI,” said Principal Investigator, Dr. Allen Jeremias, at St Francis Hospital in Roslyn, New York State. “PCI has made a major positive impact on many coronary artery disease patients’ lives, but when we look back at all the major, high-quality stent trials over the past 20 years we see that around 20-30% of patients continue to have recurring chest pain at one year after receiving treatment. With DEFINE GPS we will be able to definitively determine if a physiology-based PCI approach results in superior patient outcomes compared to standard angioplasty.”

PCI is an image-guided, minimally-invasive treatment to open a coronary artery blockage (stenosis) that is causing a reduced blood flow (ischemia) to heart tissue. Under the current standard of care, clinicians navigate a balloon catheter and coronary stent to the treatment area using interventional X-ray guidance (a coronary angiogram). In the DEFINE GPS study, an iFR pullback measurement, which uses pressure wires to map the physiological profile of disease distribution along the length of the affected vessel, will be overlaid on the angiogram to provide more precise information on where to treat within the vessel. The study will also use iFR to measure if the treatment succeeds in restoring sufficient blood flow to prevent ischemia or if further treatment is warranted.

“iFR continues to be adopted in clinical practice, with mounting evidence that this innovative technology contributes to improved outcomes, reduced costs [2, 3, 4] and enhanced patient experiences,” said Chris Landon, Senior Vice President and General Manager Image Guided Therapy Devices at Philips. “This major study will provide a definitive answer to the question of whether a functional guidance strategy throughout the procedure demonstrates superior outcomes and reduces costs. The study has the potential to drive a significant improvement in clinical practice, and it’s a prime example of Philips’ commitment to providing a strong evidence base for the benefits of its healthcare innovations.”

Philips Image Guided Co-Registration System – SyncVision – is part of the company’s unique portfolio of systems, smart devices, software and services available on its Image Guided Therapy System – Azurion. In addition to advanced imaging systems, the portfolio includes coronary imaging catheters, coronary atherectomy and coronary crossing devices, specialty balloons, flow wires, and pressure wires such as Philips’ new OmniWire – a unique solid-core pressure wire that enhances the ability to maneuver the wire in the patient’s circulatory system.

The DEFINE GPS study is sponsored by Philips, with the Cardiovascular Research Foundation overseeing core lab and clinical event committee activities.

[1] Jeremias A et al. The DEFINE PCI Trial: Blinded Physiological Assessment of Residual Ischemia after Successful Angiographic Percutaneous Coronary Intervention, presented at ACC 2019.
[2] Davies JE, et al. Use of the Instantaneous Wave-free Ratio or Fractional Flow Reserve in PCI. N Engl J Med. 2017 May 11;376(19):1824-1834.
[3] Gotberg M, et al. iFR Swedeheart Investigators. Instantaneous Wave-free Ratio versus Fractional Flow Reserve to Guide PCI. N Engl J Med. 2017 May 11;376(19):1813-1823.
[4] Tonino, et al. Fractional Flow Reserve Versus Angiography for Guiding Percutaneous Coronary Intervention. N Engl J Med. 2009;360(3):213-224.

For further information, please contact:

Mark Groves
Philips Global Press Office
Tel: +31 631 639 916
Email: mark.groves@philips.com

Fabienne van der Feer
Philips Image Guided Therapy
Tel: +31 622 698 001
Email: fabienne.van.der.feer@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being, and enabling better outcomes across the health continuum – from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips generated 2020 sales of EUR 17.3 billion and employs approximately 77,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Attachments

June 22, 2021

Verisk’s AIR Updates Its Terrorism Model to More Comprehensively Model Damage from Conventional Bomb Blast Attacks

BOSTON, June 22, 2021 (GLOBE NEWSWIRE) — Catastrophe modeling firm AIR Worldwide announced that it has updated its Terrorism Model for the United States to more comprehensively model the extent of damage from conventional bomb blast attacks. Starting with the size and location of the bomb, the model propagates the appropriate blast intensity within a built environment from the exterior to the interior of buildings to yield damage and loss estimates, including property damage and workers’ compensation, and personal injury. AIR Worldwide is a Verisk (Nasdaq:VRSK) business.

“When terrorists use conventional weapons—the effects of which tend to be highly localized—they are likely to be targeting specific buildings or facilities,” said Tao Lai, vice president, research, AIR Worldwide. “The amount of damage that occurs at or near the site of an attack depends on a wide variety of factors. In addition to the type of weapon used, the surrounding buildings, building dimensions and blast intensity propagation can have a profound effect on the damage from an attack.”

Using the AIR Model for Terrorism, (re)insurers can estimate the potential property, business interruption, workers’ compensation, and personal injury losses that can arise from acts of terrorism in the U.S. The deterministic event modeling capabilities in Touchstone ^® allow clients to select a blast size and location to analyze the impact it will have on their specific book of business.

A distinctive feature of the AIR U.S. Terrorism Model’s blast intensity and damage calculation methodology is the explicit consideration of blast intensity propagation in different built environments within a building. As part of the new model, AIR used 3D Computational Fluid Dynamics simulations to ensure more accurate blast intensity propagation reflecting the configuration and proximity of buildings in a variety of urban environments. Vulnerability accounts for both overpressure and pressure impulse outside and inside a building, which inform the estimation of building damage, contents damage and personal injury. Because damage is calculated through the aggregation of cells and blast intensity is modified both as it enters the structure and as it travels through the interior, model users can obtain detailed loss results for a specific floor of interest.

“The threat of terrorism continues to rise and managing risk from terrorism has become an essential part of business,” continued Lai. “Updates to the AIR Terrorism Model for the United States include enhancements to the modeling of conventional bomb blast attacks. In particular, the updated model can produce a more realistic damage extent for various forms of blast attacks, including the Oklah o ma City bombing which was estimated to have had the energy of approximately 4,000 lbs. of TNT and damaged 324 structures within a five-block radius.”

The updated model also reflects learnings from the detonation of a recreational vehicle bomb in downtown Nashville, TN on December 25, 2020, a reminder that this form of blast attack remains a very real threat.

About AIR Worldwide
AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events. In 1987, AIR Worldwide founded the catastrophe modeling industry and today models the risk from natural catastrophes, terrorism, pandemics, casualty catastrophes, and cyber incidents. Insurance, reinsurance, financial, corporate, and government clients rely on AIR’s advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, longevity modeling, site-specific engineering analyses, and agricultural risk management. AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.

About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social and governance (ESG) matters. Celebrating its 50^th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook and YouTube.

Kevin Long
AIR Worldwide
+1-617-267-6645
klong@air-worldwide.com

June 22, 2021

Proptech set for strong growth in Vietnam

As technology develops and demand keeps increasing in the property sector, proptech will develop in a similar way to fintech, experts have said.

Proptech, or property technology, has developed strongly in Vietnam with many start-ups being launched and attracting investment from major players and many services being developed to meet market demand.

An expert from Savill Vietnam said there are certain reasons for the market’s rise: the country’s huge population, the problems it faces, which could be resolved by proptech, and Vietnamese people’s ability to use technology.

Hoang Duc Trung, a partner at VinaCapital Ventures, told Viet Nam News: “We believe proptech will develop in a similar way to fintech, that is, mostly based on how technology stacks are developed and evolve to resolve structural pain points and inefficiencies and positioned at the intersection of all market stakeholders.

“We think that the trendsetters and growth drivers will continue to be those companies that create and offer disruptive solutions that optimise and aggregate resources and financing, improve industry standards and customer experiences and ensure transparency and data security.”

He attributed the growth of the market to the strong economy, accelerating urbanisation and rising incomes which continue to drive demand in the property market.

“This growth is also fuelling digital transformation and the development of disruptive technology infrastructure, which is commonly known as ‘proptech’.”

According to Trung, proptech has gained ground in Vietnam in recent years, mostly thanks to the country’s young and tech-savvy population.

“Hundreds of proptech start-ups and traditional real state firms are aiming to leverage technology to improve their operations and competitive edge by providing effective solutions to enhance home buying, selling, renting, and living experiences.”

Some of the famous apps and proptech products in the market include Saas, Propzy, Go2Joy Vietnam, Citics, Homebase, and A.Plus Home.

They have successfully raised capital from foreign investors.

For instance, Propzy, a leader in the proptech industry and provides transparent online property services, raised 37 million USD.

Speaking about the reasons for investing in proptech, Doan Le Minh Tri, senior investment manager at VinaCapital Ventures, said: “We have been monitoring the development of the proptech sector and see its enormous potential, given the continuing growth of the real estate market and increasing digitisation trends.”

VinaCapital’s first investment in the sector was in Rever, which has built infrastructure to make the transaction process smoother. Its solution has outpaced the industry’s benchmarks related to data accuracy, the number of days a property is on the market and agent efficiency ratio.

More recently, VinaCapital Ventures invested in Homebase, which offers a rent-to-own financing option for millennials and the under-banked population to realise their home ownership goals.

Both companies are addressing long-standing pain points in Vietnam’s real estate market.

“We invested in these companies because they possess operational know-how blended with superior technology stacks that aim to serve homebuyers throughout the transaction journey, from screening and touring properties, conducting legal checks, arranging financing, and related paperwork that comes with owning a home.

“These services are provided affordably and transparently, enabling these companies to provide a higher level of customer service. We have a strong belief that Rever and Homebase are well-positioned to become leaders in their respective segments,” he told Viet Nam News.

The investment in the market has shown how promising it is.

Speaking about the efficiency of proptech, John Le, CEO and founder of Propzy Vietnam said: “Our sales guys are now on average bringing much more with much less, so our technology SAM has been a major influence because it has ensured certain business processes that otherwise cannot be done in any normal world because you cannot get 300 salespeople to collaborate.

“But this technology allows the sales team to be connected, engage with one another and collaborate to get the best outcome possible which is a real estate transaction from buyer to seller, an asset we have been able to enable our sales guys to perform at absolute best.

“We’ve seen glimpses of success in other developed markets where property buyers are able to make purchase decisions without physically visiting the properties; however in Vietnam, there’s still a long way to go.

“Having said that, there is a silver lining in the cloud and that’s the high-rise or condo market. As that segment of the property market grows relative to the overall market we can anticipate adoption of virtual touring and purchasing potentially happening sooner rather than later.”/.

Source: Vietnam News Agency

June 22, 2021

Deputy PM Pham Binh Minh receives visiting Singaporean Foreign Minister

Deputy Prime Minister Pham Binh Minh suggested several measures to augment the Vietnam – Singapore strategic partnership during a meeting with visiting Singaporean Foreign Minister Vivian Balakrishnan in Hanoi on June 22.

Balakrishnan affirmed that the Vietnam – Singapore strategic partnership has been developing in a substantive and effective manner with high political trust and huge cooperation potential, especially when both are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

The two countries share many common benefits in combating COVID-19 and strengthening cooperation towards post-pandemic recovery, he emphasised.

The Singaporean official also informed his host about the outcomes of the talks with his Vietnamese counterpart Bui Thanh Son on June 21, including the proposals to establish working groups on COVID-19 response and cooperation in the digital economy as well as facilitate travel between the two countries.

Welcoming Minister Balakrishnan, Deputy PM Minh highly valued the Singaporean Government’s efforts to respond to the COVID-19 pandemic and conduct mass vaccination, expressing his hope that Singapore will share its experience and cooperate with Vietnam in applying high technology in rapid testing and contact tracing and access to safe and effective vaccines.

He applauded the two countries working to soon establish and convene meetings between their working groups on COVID-19 response towards mutual recognition of each other’s vaccination certificates.

The Deputy PM also welcomed the cooperation in the digital economy to create momentum for economic recovery and development in the new context.

The two sides should devise measures for effectively carrying out the cooperation aspects within the framework of the Vietnam – Singapore economic connectivity agreement, including organising the 15th connectivity ministerial meeting early, promoting the effective and balanced development of trade, and developing the existing Vietnam – Singapore industrial parks (VSIPs) towards smart, high-tech, innovative, and environmentally friendly ones, according to him.

Minh also suggested Singapore continue the capacity building cooperation programmes in the Mekong sub-region, coordinate viewpoints on regional and international issues of shared concern, including the East Sea issue, and uphold the solidarity and centrality of ASEAN.

Balakrishnan pledged coordination with the Vietnamese Ministry of Foreign Affairs to step up all-level mutual visits and effectively implement directions issued by the countries’ leaders, thereby helping to develop the strategic partnership extensively and substantively on the basis of mutual political trust and common benefits./.

Source: Vietnam News Agency

June 22, 2021

NA Chairman underlines importance of legislative studies

Legislative studies should serve facilitation of development, and help remove problems and shortcomings of the current legal system, National Assembly Chairman Vuong Dinh Hue said on June 22.

During a working session with the Institute for Legislative Studies, Hue said since its inception 13 years ago, the institute has made efforts to complete tasks regarding legislative scientific research and publish the Legislative Studies Journal.

Hue urged the institute to play a more active role in researching and making recommendations on how to concretise the Party’s guidelines in the resolution adopted at the 13th National Party Congress, particularly new issues raised in the document.

Another task for the institute is to review and perfect the existing legal system, he said, stressing the Politburo’s requirements of building a unified, synchronous, transparent, stable and highly feasible legal system, and asked the institute to take them into account.

To raise its operational efficiency, the institute should quickly draw up a project to revamp its operation, Hue said, noting that information products must be digitalised to make it easier for users./.

Source: Vietnam News Agency

June 22, 2021

Vietnamese Foreign Minister chairs ASEM High-level Policy Dialogue

Vietnamese Minister of Foreign Affairs Bui Thanh Son on June 22 chaired the ASEM High-level Policy Dialogue themed “ASEM at 25: Strengthening Asia-Europe Partnership in a Transforming World.”

The event, held in both online and in-person forms, saw the attendance of nearly 200 delegates from governmental agencies, businesses and social organisations, and scholars from 53 member countries of the Asia-Europe Meeting (ASEM), along with representatives from international organisations.

The high-level policy dialogue was initiated by Vietnam on the occasion of the 25th founding anniversary of the ASEM (1996-2021) and one of the major activities of the forum this year.

It offered an opportunity for the members to discuss development orientations and visions of the Asia-Europe partnership in the new period to effectively contribute to peace, stability, prosperity and sustainable development in the two continents and the world at large.

Its outcomes would significantly contribute to the 13th ASEM Summit scheduled to take place on November 25 and 26 in Cambodia. In his remarks, Son lauded remarkable achievements and progress of the partnership over the past 25 years, and affirmed that Asia-Europe cooperation continues to be a priority in Vietnam’s foreign policy.

The world is witnessing profound transformation in all aspects as a result of scientific and technological breakthroughs, geo-economic and geo-political shifts, the emergence of new, complex, inter-related traditional and non-traditional security challenges, and the impact of COVID-19, Son said.

The minister also pointed to numerous hurdles standing in the way of international cooperation, including protectionism, unilateralism, and behaviors that erode international law.

In such a rapidly changing and complex world, the Asia – Europe partnership and cooperation is more important than ever, he said, stressing that it is, in fact, indispensable to the world’s stability and prosperity.

It is high time for ASEM to devise a new vision to create new drivers and vitality, and carve out for it a befitting role in the evolving regional and global architecture, the minister said.

He called on the member countries to demonstrate stronger resolve, take bolder actions, and choose an appropriate path to move forward so that ASEM would reap more successes.

It is important for ASEM to prioritise areas that meet the development needs of its member countries, pay due attention to confidence-building measures, and contribute through concrete actions to the global restructuring process towards inclusive and sustainable development, Son suggested.

To this end, he proposed three major objectives for ASEM cooperation in the coming decades, comprising maintaining a favorable international environment of peace, stability, dialogue and trust; playing a leading role and making greater efforts to enhance sustainable and inclusive development; and laying a solid foundation for sustainable, enduring, and mutually beneficial economic ties between Asia and Europe. With the aim of contributing to building a new vision for the Asia-Europe partnership, the dialogue focused on major changes in the world and the two continents, new factors and trends that impact the cooperation in the coming decades, the role of Asia-Europe cooperation in addressing global challenges, consolidating multilateral cooperation and spurring sustainable and inclusive growth, and Asia-Europe cooperation vision in the next periods.

The delegates shared the view on the significance of the partnership, especially in a rapidly changing and complex world, and committed to promoting the close coordination between the member countries.

Appreciating Vietnam’s initiative, they said the dialogue has importantly contributed to maintaining cooperation pace, given ASEM’s activities disrupted by the pandemic.

They said ASEM needs to have a new cooperation vision to better contribute to peace, security, stability and sustainable development in the two continents and the world, while meeting development requirements in the member countries.

They suggested innovation in cooperative activities to bring pragtical benefits to people.

The dialogue has affirmed Vietnam’s role and contributions to ASEM, as well as joint efforts made by the country and other member nations in building the Asia-Europe partnership./.

Source: Vietnam News Agency

June 22, 2021

Opening remarks by FM Bui Thanh Son at ASEM high-level policy dialogue

Foreign Minister Bui Thanh Son chaired the high-level policy dialogue of the Asia-Europe Meeting (ASEM) in Hanoi on June 22. The following is the full text of the Foreign Minister’s opening remark at the event.

Excellencies,

Ladies and gentlemen,

It is my great pleasure to welcome you all to the High-level Policy Dialogue: “ASEM at 25 – Strengthening Asia-Europe Partnership in a Transforming world”, directly from Ha Noi and virtually from across Asia and Europe.

Your participations and presence, including Ministers, representatives of government agencies, scholars, businesses, and community stakeholders from the member countries, vividly demonstrate our shared resolve to promote an Asia-Europe partnership for peace, stability and prosperity.

A special welcome to our colleagues from the Republic of Korea, Singapore and the UK – who grace this conference with your direct participations in Hanoi – a positive sign that we finally start to emerge from the pandemic 2.

Ladies and gentlemen,

Marking the anniversary of 25 years of partnership, ASEM can be proud of its remarkable achievements and progress.

Starting with the vision to build a “New comprehensive Asia-Europe Partnership for Greater Growth”, ASEM has developed into a leading inter-regional cooperation mechanism for peace, stability and prosperity. Leveraging the strengths of member countries, the Forum has grown robustly. Its membership has enlarged and areas of cooperation have expanded over the years. ASEM members have benefited from close cooperation on issues of great importance to the development of the regions, such as the transfer of knowledge and best practices, and socio–cultural and intellectual exchanges.

But as we convene here today to commemorate ASEM’s success, the world is witnessing profound transformation in all aspects as a result of scientific and technological breakthroughs, geo-economic and geo-political shifts, and the emergence of new, complex, inter-related traditional and non-traditional security challenges. Above all, the Covid-19 pandemic is causing a prolonged global health crisis, which is reshaping the way we live, work and interact with each other.

We also see numerous hurdles standing in the way of international cooperation, including protectionism, unilateralism, and behaviors that erode international laws for narrow-minded interests.

In such rapidly changing and complex world, Asia – Europe partnership and cooperation is more important than ever. It is, in fact, indispensable to the world’s stability and prosperity.

Our regions are home to the world’s biggest and most dynamic economies, accounting for 60% of the world population, 65% of the global GDP and 55% of the international trade; where many of the world’s political, scientific and technology centers cluster. Our regions for decades have been the incubator of successful cooperation ideas at regional and global levels.

Indeed, there’s ample room for ASEM partnership to expand since much of the tremendous potential for Asia – Europe cooperation remains untapped. Looking ahead, we need to make the most of Asia’s fast-growing economies and Europe’s strength as a global powerhouse of technology, science, creativity and innovations. This synergy can fuel the next phase of our joint incredible growth and development for the new era.

But in the face of mounting challenges of the time, in order for ASEM to continue to succeed in the next 25 years, we need to demonstrate stronger resolve, take bolder actions, and choose an appropriate path to move forward. It is important for ASEM to prioritize areas that meet the development needs of its member countries, pay due attention to confidence-building measures, and contribute through concrete actions to the global restructuring process towards inclusive and sustainable development.

To this end, I wish to highlight three major objectives for ASEM cooperation in the coming decades:

First, ASEM needs to contribute to the maintenance of a favorable international environment of peace, stability, dialogue and trust. In this new era of development, we look forward to ASEM’s expanded efforts to increase international understanding and build trust. ASEM should also play a critical role in promoting multilateralism and the UN-centered international system, upholding international law, and addressing global challenges. Moreover, the Forum needs to assert its pioneering role in helping shape a global governance system of greater effectiveness, fairness, and more democratic.

Second, ASEM should play a leading role and make greater efforts to enhance sustainable and inclusive development. Our top priority should be to support member countries in achieving the Sustainable Development Goals under the 2030 Agenda, and to step up cooperation in such areas as climate change response, environmental protection, water resource management, circular economy, and high-quality human resource development.

Third, ASEM needs to lay a solid foundation for sustainable, enduring, and mutually beneficial economic ties between Asia and Europe. Enhancing Asia-Europe economic connectivity will bring benefits to all and needs to be implemented in sync across all sectors from trade, investment, finance, industries to regional connectivity and digital economy. Such endeavor has become highly relevant, particularly at a time when our economies are striving to rebound from the impacts of the COVID-19 pandemic.

Ladies and gentlemen,

Viet Nam is a founding member of ASEM, and Asia-Europe cooperation continues to be a priority of Viet Nam’s foreign policy. In the years to come, Viet Nam is committed to working closer with ASEM members in fostering the dynamic and thriving Asia-Europe partnership for global peace and stability, and for the prosperity of both continents.

Our dialogue today is a chance for us to take stock of our 25-year journey together and explore the different trajectories of cooperation in the future. It is high time we subscribe to a new vision which instills ASEM with new drivers and vitality and carve out for it a befitting role in the evolving regional and global architecture.

In this regard, I suggest that our deliberations today focus on the following key issues:

First, identify the major trends and factors that impact the Asia-Europe cooperation in the next decade as well as the difficulties and challenges ahead;

Second, position Asia-Europe cooperation in the new global landscape and explore how best we can deepen our engagement and cooperation. The current pandemic and global health crisis is a case in point. We could make greater efforts to assist one another in sharing, joint development and production of vaccines against Covid-19 as some of our members have done so generously in recent time.

This should be among the items high on ASEM’s agenda. And I think all of us would appreciate such kind gestures of assistance in our individual and collective fights against Covid-19;

Last but not least, identify areas for cooperation and implementation measures so that ASEM can make the best use of its strength for our shared peace, stability, and prosperity in this transforming world. Preparedness for future health emergencies comes immediately to mind in this regard.

Excellencies,

Ladies and gentlemen,

With your active supports and insightful contributions, I am confident that our Dialogue will be a great success. The outcomes of our Dialogue today will provide valuable inputs to shape the vision and directions for the future of Asia-Europe cooperation at the upcoming 13th ASEM Summit.

Source: Vietnam News Agency