Latest news with #Asean-BAC
New Straits Times
11-06-2025
- Business
- New Straits Times
APEC Finance Ministers to launch new 5-year roadmap in October
KUALA LUMPUR: The Asia-Pacific Economic Cooperation (APEC) Finance Ministers' Meeting, set for October, will unveil a new roadmap to replace the Cebu Action Plan. Deputy Finance Minister Lim Hui Ying shared that the roadmap would establish the priorities of the APEC Finance Ministers' Process for the next five years. "It will identify initiatives and medium-term outcomes to be achieved to realise the Putrajaya Vision 2040 of an open, dynamic, resilient, and peaceful Asia-Pacific community. "This roadmap will also include initiatives and outcomes aimed at supporting sustainable growth across the region. "It is crucial for Asean member countries to collaborate closely within the APEC framework to ensure Southeast Asia's shared priorities are incorporated into the new APEC roadmap and to ensure all initiatives are complementary and consistent," she said during her keynote address at the ABAC-Asean BAC-APFF Southeast Asia Conference 2025. She reaffirmed Malaysia's commitment to playing an active role, particularly through collaboration with the Asean Business Advisory Council (Asean-BAC), to promote regional financial integration and development. She further noted that Malaysia anticipates valuable insights and recommendations from the "Financing Southeast Asia's Development Priorities" conference held as part of the event. "This is alongside aspirations to facilitate the annual roundtable dialogue between APEC Finance Ministers and the APEC Business Advisory Council (ABAC) in Incheon, South Korea, this coming October," she added. The 2025 ABAC-Asean BAC-APFF Southeast Asia Conference convenes financial and business leaders to address critical challenges facing Asean and APEC and also spotlights pivotal themes such as sustainable energy access and financial digitalisation. The event served as a platform to showcase regional successes, with speakers highlighting projects that exemplify effective public-private collaboration. Building on the momentum of the 46th Asean Summit, the conference highlighted the interconnectedness of Asean's and APEC's strategic priorities. The discussions aligned with Asean-BAC's 12-initiative roadmap, which includes advancing capital market integration and promoting sustainability frameworks. Asean-BAC chairman Tan Sri Nazir Razak said that the programme aims to unite leaders, investors, and policymakers in a solutions-oriented dialogue on Asean's growth trajectory. He also called for increased accountability and action from both the public and private sectors to drive economic integration in the region. Highlighting the stagnant intra-Asean trade and investment, he stated, "When I imply the lack of execution in Asean, I am not just pointing at the regional organisation or governments for that matter. The private sector has also fallen short." Nazir called fo the need for businesses to pursue partnerships, mergers and acquisitions (M&A), and robust supply chain and trade activities, noting, "Intra-Asean trade and investments remain low as a percentage of total trade and investments." "The surge in regional Asean companies of the late 2000s has slowed. Are we fulfilling our potential in attracting investors to Asean?" "That is why this conference, themed 'Financing Southeast Asia's Development Priorities: Identifying Medium-Term Deliverables for Public-Private Collaboration', is so critical," he said. "Asean needs to deepen and connect its capital markets to unlock the potential of domestic savings, attract global capital, and drive innovation," he said.
New Straits Times
09-06-2025
- Business
- New Straits Times
Opportunities for Asean amidst US's tariff tantrum: Asean-BAC head
HANOI: Southeast Asian countries can capitalise on the rollout of tariffs and other US policies by re-evaluating overlooked relations with other trade partners and opening their doors to international students, according to Tan Sri Nazir Razak, chairman of the Asean Business Advisory Council (Asean-BAC) - Asean's business lobby. Vietnam News Agency (VNA) reported, Nazir, who leads the council during Malaysia's Asean Chairmanship in 2025, emphasised the importance of strengthening intra-regional economic ties by boosting trade and investment within the Association of Southeast Asian Nations (Asean). He called for forging closer partnerships with other countries in the world such as China, India and Japan. The Asean-BAC head also proposed Asean and Japan collaborate in fields such as artificial intelligence and energy, as both have the potential to work together and build capacity in this area.
The Star
08-06-2025
- Business
- The Star
Many opportunities for Asean amidst US' tariff tantrum, says Asean-BAC head
HANOI (Bernama-VNA): South-East Asian countries can capitalise on the rollout of tariffs and other US policies by re-evaluating overlooked relations with other trade partners and opening their doors to international students. The statement is according to Tan Sri Nazir Razak, Chairman of the Asean Business Advisory Council (Asean-BAC) - the Asean's business lobby. Vietnam News Agency (VNA) reported, Nazir, who leads the council during Malaysia's Asean Chairmanship in 2025, emphasised the importance of strengthening intra-regional economic ties by boosting trade and investment within the Association of South-East Asian Nations (Asean). He called for forging closer partnerships with other countries in the world such as China, India, and Japan. The Asean-BAC head also proposed Asean and Japan collaborate in fields such as artificial intelligence and energy, as both have the potential to work together and build capacity in this area. - Bernama-VNA
The Sun
29-05-2025
- Business
- The Sun
Asean Private Markets Association expected to be formalised by year-end
KUALA LUMPUR: The Asean-Business Advisory Council (Asean-BAC) is in the process of establishing the Asean Private Markets Association, expected to be formalised by year-end. 'The idea is to create a platform to advise governments on enhancing policies to develop the private markets industry, including venture capital and private equity across Asean,' he told reporters after delivering his welcoming address at the Asean Business Forum 2025 here today. Nazir said the association could help overcome market fragmentation issues and drive the region's industry development. 'We estimate that up to US$60 billion (RM254.6 billion) in capital should be channelled to Asean private equity and venture funds, but certain reforms are needed to reduce market fragmentation and improve conditions for investment monetisation,' he said. According to Nazir, the council conducted a research report with McKinsey, which shows Asean private markets are underdeveloped, estimated at only 0.5% of gross domestic product (GDP), compared to the global benchmark average of 1.5% of GDP. 'The report shows that the private markets industry is extremely important to the economy but remains too small in Asean,' he said. On another note, Nazir said Asean stands at a pivotal moment and hopes the region can move forward with economic integration. 'This year at Asean-BAC, our priorities and activities have been carefully designed to capture the essence of the current opportunities and challenges confronting us. We have strived to facilitate dialogues, forge partnerships and propose actionable recommendations that will empower Asean businesses to capitalise on growing intra-regional collaboration, and to lead in adopting cutting-edge technologies and sustainable practices,' he added. – Bernama
Business Times
29-05-2025
- Business
- Business Times
Asean-BAC to launch private-markets association in bid to attract US$60 billion regional funding
[KUALA LUMPUR] The Asean Business Advisory Council (Asean-BAC) plans to establish a regional private-markets association by year end to unlock as much as US$60 billion in private equity and venture funding to support small and medium-sized enterprises and startups across South-east Asia. Speaking at the Asean Business Forum 2025, Asean-BAC Malaysia chairman Nazir Razak said the move comes amid growing concerns that Asean's private-capital ecosystem remains underdeveloped, representing just 0.5 per cent of the region's gross domestic product – far below the global average of 1.5 per cent. He noted that the council has been working with the governments of Malaysia, Singapore, Thailand and Indonesia to formalise the Asean Private Markets Association. The entity will serve as a platform to advise governments on policy reforms aimed at unlocking long-term capital. 'The idea is to help shape policies that support the growth of private markets in Asean,' Nazir told reporters on Thursday (May 29) after delivering his keynote address. 'Without reforms, capital will remain fragmented and difficult to monetise.' Beyond private markets, Asean-BAC is also pushing for the creation of an Asean Business Entity – a proposed classification that would allow companies to operate across member states with greater flexibility, said Nazir. He added that the new framework would facilitate cross-border outsourcing and mobility of talent, helping businesses tap the region's collective advantages. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Despite the ambitious plans and growing investor interest, panellists at the forum acknowledged that execution remains a major hurdle. 'When I mention the lack of execution in Asean, I'm not just pointing at governments or the regional organisation,' pointed out Nazir. 'The private sector has also fallen short. Are we doing the right deals – whether in mergers and acquisitions, supply chains, or trade? I don't think so.' He added that the momentum behind regional corporate champions has slowed since the late 2000s, raising questions about whether Asean is still fulfilling its potential to attract global capital. The evolving consensus-based model Khairy Jamaluddin, director of CGS International, said Asean's traditional model of consensus-based decision-making has long been a double-edged sword. 'There is no agreement until everyone agrees,' he noted, adding that such a move has slowed progress in many areas. However, Khairy said the region is beginning to evolve beyond rigid consensus. 'We're starting to see a 'consensus-plus' approach, where like-minded countries move forward together even if the full bloc isn't on board.' OCBC chief economist Selena Ling said this approach is already bearing fruit. She cited the Asean Power Grid and the Johor-Singapore Special Economic Zone (JS-SEZ) as examples of cross-border initiatives that demonstrate scalable cooperation among willing member states. 'Asean cooperation may be slow, but it is steady,' Ling noted. 'Intra-region trade is still relatively low – around 21 per cent of total trade, compared to 60 per cent in the European Union – but there's growing potential through cross-border investments and government-to-government partnerships.' The JS-SEZ, launched earlier this year, has created new economic opportunities for both Malaysia and Singapore, and is now being viewed as a potential template for broader regional collaboration. Singapore plays a key role in region In a separate panel discussion, Rachel Eng, council member of Asean-BAC Singapore, said the region's cohesion will be critical in navigating rising geopolitical and economic challenges. 'Singapore stands together with our Asean brothers and sisters. If others in the region suffer, we suffer too,' she added. Eng pointed out that while Singapore remains the largest recipient of foreign direct investment in the region, a substantial portion of that capital is routed to other Asean countries. She highlighted Singapore's strengths as an efficient financial centre, citing its 80-plus double-taxation agreements. 'It's very easy to set up a business here… we have no exchange controls, and our system is entirely rules-based. Yet, much of this capital finds its way into Malaysia, Vietnam, Indonesia, and our other neighbours.' Eng sees Singapore playing a critical role in facilitating stronger investment flows to Asean. 'Regardless of tariffs, we will remain open, transparent, and committed to deepening our financial ties with the region.' During the forum, China Galaxy Securities (CGS) and CGS International Securities Group signed five strategic memorandums of understanding with regional partners. Among them was a deal with Bursa Malaysia and Shanghai-based Fullgoal Asset Management to facilitate the listing of foreign-underlying exchange-traded funds on Bursa Malaysia, offering local investors broader exposure to global markets. CGS and CGS International also signed a letter of intent for the China-Asean Investment Programme aimed at establishing a private-equity fund to invest in high-growth sectors including healthcare, semiconductors, renewable energy and agriculture. The fund, with Malaysia as a key regional anchor, is designed to facilitate the transfer of technology and industry expertise from China to Asean.
