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

Collaboration among Association of Southeast Asian Nations (ASEAN) member countries is crucial to maximizing the region’s estimated $20 trillion investment potential by 2045, according to Arsjad Rasjid, Chairman of the ASEAN-Business Advisory Council (ASEAN-BAC).

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

The theme of this year’s ASEAN-BAC series, held from September 1-8, is “ASEAN Centrality: Innovating to Greater Inclusivity.” The focus is on developing ASEAN into a fast-growing, inclusive, and sustainable economic region.

Rasjid emphasized that Indonesia, through the ASEAN-BAC, is actively promoting the establishment of a strong business ecosystem within the region to ensure the growth of all member countries together.

Despite previous doubts about ASEAN’s role as a regional organization, Rasjid argued that amid increasing geopolitical and geoeconomic challenges, ASEAN has shown resilience and is seizing the opportunity to become a global economic growth center.

Furthermore, Rasjid highlighted that the vision of ASEAN Centrality not only revolves around its strategic geographical position but also entails changing the mindset to prioritize collective growth.

He shared insights gained from his travels to member countries of the regional bloc to find solutions for regional business growth.

“We gathered aspirations on how ASEAN should progress through interactions with ASEAN business players. All these aspirations translate into policy recommendations,” he explained.

On September 1, these policy recommendations were presented to Indonesian President Joko Widodo (Jokowi), who chairs the 2023 ASEAN Chairmanship, 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 statement by the ASEAN-BAC Chairman emphasizes the importance of collaboration among ASEAN member countries to unlock the region’s vast investment potential and foster a unified, inclusive, and sustainable economic region.

This vision is endorsed by President Jokowi of Indonesia and lies at the core of the goals for the 2023 ASEAN Chairmanship.

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