ASEAN Urged to Collaborate for $20tr Investment Potential by 2045

Association of Southeast Asian Nations (ASEAN) member countries have been urged to collaborate to maximize the region’s investment potential, estimated to reach $20 trillion by 2045, according to Arsjad Rasjid, Chairman of the ASEAN-Business Advisory Council (ASEAN-BAC).

Rasjid made the statement at the ASEAN Business and Investment Summit (ABIS), which is part of Indonesia’s ASEAN Chairmanship in 2023.

This year’s ASEAN-BAC series, held from September 1-8, carries the theme “ASEAN Centrality: Innovating to Greater Inclusivity” and focuses on developing ASEAN into a fast-growing, inclusive, and sustainable economic region.

Rasjid highlighted that Indonesia, through the ASEAN-BAC, is encouraging the formation of a robust business ecosystem within the region so that all member countries can grow together.

Despite past pessimism about ASEAN’s role as a regional organization, Rasjid argued that amid increasing geopolitical and geoeconomic challenges, ASEAN has remained resilient and is seizing the opportunity to become a center of global economic growth.

Moreover, Rasjid emphasized that the vision of ASEAN Centrality is not only about being in a strategic geographical position but also about reconstructing the mindset of growing together.

He shared his experiences from his trip around the regional bloc’s member countries to find solutions for regional business growth.

“From the interactions (with ASEAN business players), we gathered all aspirations on how ASEAN should progress. Everything translates into policy recommendations,” he explained.

These policy recommendations were conveyed to Indonesian President Joko Widodo (Jokowi), the Chair of the 2023 ASEAN Chairmanship, on September 1 at the Presidential Palace.

“President Jokowi supports our vision of a unified ASEAN where the public and private sectors work closely to develop our region,” Rasjid added.

The ASEAN-BAC Chairman’s statement underscores the importance of collaboration among ASEAN member countries to realize the region’s immense investment potential and to foster a unified, inclusive, and sustainable economic region.

This vision is supported by Indonesia’s President Jokowi and is central to the goals of the 2023 ASEAN Chairmanship.

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