26-05-2025
- Business
- New Straits Times
Stronger public-private partnership key to Asean's economic resilience
KUALA LUMPUR: Asean businesses need to strengthen collaboration across public-private partnerships and among enterprises throughout the region, especially in the face of ongoing global economic uncertainty.
Asean Business Advisory Council (Asean-BAC) chairman Tan Sri Nazir Razak emphasised that working together unlocks significant potential and reaffirmed their commitment to turning government aspirations into tangible results.
"Policy support in certain areas would certainly help accelerate this, and we are actively advocating for it," he said during a doorstep interview following the Asean Leaders' interface with the council.
He said the council had a productive engagement with Asean leaders, during which they presented 12 priority areas that were met with a positive and supportive response.
"Of course, while the projects will take time to materialise, and despite the positive reception, we will still need to navigate necessary policy changes. Nonetheless, I'm very happy with the outcome of our engagement," he added.
In January, Asean-BAC launched 12 initiatives and unveiled 33 partnerships, including three memoranda of understanding (MOUs), underscoring its commitment to deepening regional economic integration.
Among the key initiatives is the Asean Business Entity (ABE) framework, which urges Asean governments to establish a new business category that would provide selected companies with greater operational flexibility across the region.
Other major initiatives include the Asean Private Capital Market Initiatives, Asean IPO Prospectus, Asean Talent Development and Mobility, Asean Common Carbon Framework, Digital Exchange Platform Malaysia, B2B Connect Initiative, Asean Identity Initiative, and the Asean Corporate Philanthropy Framework.
The Asean-BAC agenda also features the Asean Diversity, Equity and Inclusion (DEI) Collective, the Asean Sustainability Reporting Advocacy Collaborative, and both Regional and National Artificial Intelligence (AI) Engagement Platforms.
