19-7-2023 (JAKARTA) Arsjad Rasjid, the Chair of the ASEAN-Business Advisory Council (ASEAN-BAC), has emphasized his commitment to enhancing trade and investment facilitation within the ASEAN region, with the aim of bolstering its competitiveness and resilience.
Through promoting greater collaboration among governments, businesses, and other stakeholders, ASEAN-BAC seeks to eliminate barriers, streamline processes, and leverage technology to create an enabling ecosystem for sustainable economic development.
In a statement released on Wednesday, Rasjid highlighted that the smooth flow of goods, services, and investments is pivotal in driving economic growth, job creation, and ultimately, improving the livelihoods of people in the ASEAN region.
In 2020, the ASEAN region witnessed 23 percent of its trade and 15 percent of investments, a testament to the progress achieved through strengthened economic and cooperation integration among member countries.
Foreign direct investment (FDI) into the ASEAN amounted to a total of US$137 billion during the same period, showcasing the region’s attractiveness as a destination for investment opportunities.
The ASEAN Business Awards (ABA) 2023, organized by ASEAN-BAC, further demonstrated the significance placed on Trade and Investment Facilitation. Under this pillar, ABA 2023 acknowledged outstanding achievements in two categories: Export Growth and Innovative Investment. Both categories play a vital role in contributing to economic growth and fostering integration among ASEAN member countries.
Rasjid remarked that ABA 2023 serves as a platform to appreciate and celebrate businesses that have excelled in these fields, while also inspiring others to actively participate in regional trade and investment activities. Through such efforts, the ultimate goal is to position ASEAN as a thriving global leader in trade and investment.
The Export Growth category commends businesses that have demonstrated remarkable performance in expanding their export activities within the ASEAN market. These enterprises have adeptly harnessed the vast market opportunities within the region, leading to export growth, job creation, and significant contributions to the economic development of ASEAN countries.
On the other hand, the Innovative Investment category recognizes businesses that have displayed exceptional creativity in their investment strategies or financing models. The focus here is on investments that bring about transformative impacts on industries, drive technological advancements, promote sustainable development, and generate employment opportunities.
