Singapore dialogue discusses future of resources in ASEAN

Singapore (VNA) – The 11th Singapore Dialogue on Sustainable World Resources (SWR) took place on May 9 with the participation of over 240 delegates, scholars, and representatives of the private sector and non-governmental organisations relating to the Association of Southeast Asian Nations (ASEAN).

The dialogue, themed “Next Economy and the Future of Resources”, focused on the prospect of the resource sector in the future economy of ASEAN, along with measures for small- and medium-sized enterprises and smallholders to contribute to a more sustainable ASEAN.

Assoc. Prof. Simon Tay, Chairman of the Singapore Institute of International Affairs, said the resource sector, a critically important part of the economy, is now under great pressure both domestically and internationally. It holds a considerable opportunity to re-define future by focusing on value-added products.

By capitalising on global supply chains and foreign specialised knowledge, ASEAN can improve product value and promote economic growth, he said, emphasising the need to give the top priority to sustainability during this process and to make reforms in the resource and cultivation sectors. Grace Fu, Singaporean Minister for Sustainability and the Environment, cited an Asian Development bank (ADB) report as predicting that five of the 20 countries hardest hit by climate change will be in Southeast Asia.

At the dialogue, policy makers, experts, and representatives of the private sector discussed many urgent topics for the resource sector and green transition. They also looked into ways for ASEAN economies to achieve balance between sustainable growth and other demand like energy and food security amid a growing need for resources.