ABA 2020 honours ASEAN businesses contributions to COVID-19 fight

ABA 2020 honours ASEAN businesses contributions to COVID-19 fight

This year has been an extremely difficult time for the ASEAN economic community. However, the difficulties also highlighted enterprises which not only kept business stable but also made significant contributions to the prevention of the pandemic in the region – and the very best enterprises will be honoured at the ASEAN Business Awards.

ASEAN enterprises can register for ABA 2020 at aba2020.vn

The COVID-19 pandemic has led to an economic crisis for ASEAN and beyond. According to the UN Policy Brief released in July, supply chain disruptions due to lockdowns and quarantine measures are affecting countries dependent on merchandise trade such as Singapore, Vietnam, Cambodia, Malaysia, and Thailand.

Countries reliant on remittances, such as the Philippines, are hit hard as declining remittances weaken consumption and investment. Meanwhile, the measures to contain COVID-19 have affected the labour market. For instance, unemployment is expected to increase in Indonesia by 2.5 percentage points, Malaysia by 1.5 points, and the Philippines by 1.2 points.

Negative impacts are inevitable, but many ASEAN enterprises have overcome difficulties, and are making meaningful contributions to pandemic prevention.

“Many enterprises in the region had to close or stop production, but there are also enterprises with sustainable development methods, whose solutions have not only maintained operations but made valuable contributions to society to help ASEAN member states overcome the pandemic,” said Doan Duy Khuong, chairman of the ASEAN Business Advisory Council (BAC) in Vietnam.

In Singapore, businesses in the city-state not only contribute large amounts of cash and anti-pandemic items but also return or reject payout packages from the government. In May, when the pandemic was at its peak in Singapore, 32 businesses returned a grant of $35 million and another 29 companies stopped receiving payout packages.

In addition, in all other countries in the region, enterprises have done a great job in social responsibility by actively contributing to the government with cash, equipment, or facilities for COVID-19 prevention.

In particular, a number of Vietnamese enterprises have continuously supported the battle with many different resources. This is also an important factor to help Vietnam become a bright spot in the region and further afield in reducing the impact of the coronavirus.

According to Khuong, the contribution of enterprises during the crisis was extremely valuable, which makes this year's ASEAN Business Awards (ABA) more special than ever.

As the chair of the ABA 2020 Awards, Nguyen Thi Nga, member of ASEAN BAC Vietnam and chair of BRG Group, said, “Smooth seas never made a skilled sailor”.

“COVID-19 is the time when the best businesses and business people can show their bravery and resilience to overcome their difficulties by not only ensuring the sustainable development of businesses but also contributing to pandemic prevention. ABA 2020, therefore, has a special stature, as it honours the outstanding businesses of the entire region,” Nga noted.

ASEAN BAC interact with ASEAN economic ministers

To ensure the transparency and prestige of the awards, Deloitte Vietnam has been selected as a strategic partner for ABA. As a pioneer in the field of consulting and auditing with 30 years of experience in the Vietnamese market and one of the four leading specialised service providers in the world with a wide network of operations, Deloitte worked closely with the Organising Committee, the Chamber of Commerce and Industry, as well as ASEAN BAC and other prestigious partners to build up an award system with the most scientific structure and scoring method to select the most deserving businesses and entrepreneurs across Southeast Asia.

In a special 2020 context, with the professionalism of the organisers and the support from ASEAN leaders at all levels, businesses across the region can see the award as an opportunity to honour their efforts to ensure the sustainable development of the business during the economic crisis.

Currently, ASEAN businesses can register for ABA 2020 through the website at aba2020.vn

VIR