Latest news with #Asean-BusinessAdvisoryCouncil
The Sun
7 days ago
- 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
Malaysiakini
06-05-2025
- Business
- Malaysiakini
Nazir lauds Anwar, govt's handling of US tariffs
The Malaysian chapter of the Asean-Business Advisory Council (Asean-BAC) has complimented the government's handling of the United States tariffs. The group noted that Prime Minister Anwar Ibrahim and his administration and faced the matter calmly and in a balanced manner while protecting national interests.
