Harnessing Women's Talent Across ASEAN: Potential US$2.3 Trillion Economic Boost, Minister
Investment, Trade, and Industry Minister Tengku Zafrul Aziz delivered a powerful keynote address at the ASEAN Women Economic Summit (AWES) 2025, emphasising the critical role of women's empowerment in driving economic growth and resilience across the region. The summit, a flagship initiative under Malaysia's ASEAN Chairmanship, convened prominent figures from government, business, and civil society at the Shangri-La Hotel in Kuala Lumpur on Saturday, May 24, 2025.
Minister Zafrul underscored the significant demographic of women in ASEAN, representing nearly 50% of the population. However, he highlighted sobering statistics, including lower labor force participation rates, underrepresentation in senior management, and greater barriers to credit for women entrepreneurs. He warned that global challenges like trade tensions and climate change could exacerbate these inequalities.
'These gaps aren't just unfair – they're economically irrational,' stated Minister Zafrul. He stressed that empowering women is not merely a matter of social justice but an economic imperative. Citing research, he noted that advancing women's equality could add a staggering $12 trillion to global GDP by 2025, with Malaysia alone potentially boosting its GDP by 8.2%, equivalent to $50 billion, by closing gender gaps.
The Minister outlined Malaysia's commitment to women's empowerment through its MADANI Economy framework, which prioritises inclusivity. He detailed concrete measures implemented by his ministry (MITI), including the Women Exporters Development Programme, gender-responsive trade provisions, a RM200-million fund for women entrepreneurs in high-growth sectors, and the Women in Industry and Trade Initiative (WITI). Notably, he highlighted that women constitute 69% of MITI's top management.
Looking regionally, Minister Zafrul emphasised Malaysia's ASEAN Chairmanship theme of 'Inclusivity and Sustainability,' aiming to ensure that opportunities are accessible to all, including women. He pointed to the immense potential of harnessing women's talents across ASEAN economies, estimating a potential $2.3 trillion boost. He also highlighted the resilience and innovation that diverse, women-led businesses bring to the challenging global landscape.
Malaysia is actively pursuing ambitious national targets, including increasing women's workforce participation to 63% by 2030, ensuring 30% female representation on corporate boards, doubling the number of women-led businesses in export markets, and establishing ASEAN's first Women's Economic Empowerment Centre in Kuala Lumpur.
The Minister also posed critical questions for AWES 2025 to address, seeking actionable feedback on policy harmonization, access to finance (including a potential $1 billion ASEAN fund), digital upskilling for women, dedicated support for women industrialists and exporters, and strategies to build a robust female leadership pipeline.
In his concluding remarks, Zafrul expressed his hope for an ASEAN where every girl sees limitless possibilities, every woman entrepreneur has equal access, every company benefits from diverse leadership, and every economy grows stronger through inclusive participation. He urged leaders to inspire change, share experiences, mentor generously, and lead fearlessly, echoing Malala Yousafzai's powerful words: 'We cannot all succeed when half of us are held back.'
Minister Zafrul officially declared the ASEAN Women Economic Summit 2025 open, expressing his conviction that it will be a key turning point for women's empowerment in the region. Related
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