Chair of ASEAN Business Advisory Council (ASEAN-BAC), Arsjad Rasjid stated that he is ready to realize the ASEAN Business Roadmap Towards the Epicentrum of Growth.

The Business Roadmap is an initiative by ASEAN-BAC to contribute positively to the vision of the chairmanship of ASEAN Indonesia this year and in order to develop the ASEAN Vision 2045.

"I will directly hand over the ASEAN Business Roadmap Towards the Epicentrum of Growth to the President of the Republic of Indonesia to the President of the Republic of Indonesia Joko Widodo, the ASEAN Business Roadmap Towards the Epicentrum of Growth. ASEAN-BAC builds a real business, not just a concept," said Arsjad when giving a press statement regarding the ASEAN Business Investment Summit 2023 and the 2023 ASEAN Business Awards at the Kadin Tower, Jakarta (8/8/2023).

"All of these sidelines are part of the 2023 ASEAN-BAC Summit which will be held from 1 - 4 September 2023. Furthermore, several other events will be held such as the ASEAN Fintech Roundtable and the ASEAN Indo-Pacific Forum on 5 - 7 September 2023, as well as Indonesia Sustainability Forum on 7 - 8 September 2023," said Arsjad.

ASEAN-BAC Achievements

ASEAN-BAC, through 5 priority issues and 8 legacy projects has succeeded in completing several achievements. In regards to digital transformation, the ASEAN QR Code system has so far been successfully connected with several countries, such as Indonesia with Singapore, Thailand and Malaysia.

Likewise, Vietnam and Thailand are already interconnected, and most recently between Thailand and Cambodia in 2023. This would encourage MSMEs to compete globally and increase digital economic growth in the region which is predicted to reach US$133 billion by 2025. There are still various countries that are continuously being encouraged to be digitally connected.

Through the Wiki Entrepreneur and the Marketplace Lending Platform legacy projects, ASEAN-BAC has succeeded in supporting MSMEs in accessing the right information and financing for their businesses. On 8 - 11 August 2023 there will be a business matching between the Japan External Trade Organization (JETRO) and Kadin Indonesia which will connect Indonesian and Japanese MSMEs to share experiences and best practices. On the other hand, there is also the ASEAN Mentorship for Entrepreneurs Network which is also ready to provide training and seminars for MSMEs in Indonesia to ASEAN.

As for sustainable development, ASEAN-BAC has also accomplished its achievements in the legacy ASEAN Carbon Center of Excellence and Net Zero Hub. The ASEAN Carbon Center of Excellence has created the ASEAN Alliance on Carbon Market (AACM).

"With this AACM, ASEAN officially has its own carbon market. The ASEAN region has valuable and investable carbon stocks. A well-developed carbon market can drive a strong carbon reduction industry, increasing Gross Domestic Product (GDP) through capital investment and green jobs. Sales of carbon credits to help decarbonization could reach $1 trillion by 2037,” said Arsjad.

The Net Zero Hub, which was also initiated by ASEAN-BAC, has succeeded in driving cooperation between companies in ASEAN. These companies will share knowledge and best practices with each other, as they work to reduce their greenhouse gas (GHG) emissions and achieve zero carbon emissions.

Concerning the issue of health resilience, ASEAN-BAC has also succeeded in gathering various pharmaceutical companies, vaccines, health infrastructure, and research institutions in the health sector to form a strong partnership network and support the ASEAN One-Shot Campaign. The goal is to develop vaccines, therapies, and health infrastructure that are useful to improve health resilience in the region.

Furthermore, on the issue of food security, ASEAN-BAC has managed working with various companies such as Sinar Mas Agro Resource & Technology (SMART) and other relevant stakeholders engaged in the food sector such as corn, palm oil and horticulture. All parties involved will empower MSMEs and farmers, especially in some of these sectors, with the resources and market access needed to strengthen food security and sustainable agriculture.

To seal it, ASEAN-BAC has made another accomplishment through the ASEAN Business Entity as part of the priority issue of trade and investment facilitation. The most important thing in achieving this legacy is the commitment of companies such as Astra International Tbk., Sinar Mas, and other companies to increase intra-ASEAN investment. "In ASEAN-BAC, we always push to create investment circulation within the region, so we don't merely rely on FDI. In the end, the main goal is to form ASEAN Incorporated," said Bernardino Vega, Alternate Chair of ASEAN-BAC.

ASEAN-BAC Roadshow Achievements

ASEAN-BAC has officially completed roadshows in 9 ASEAN countries and 6 ASEAN partner countries (UK, Japan, South Korea, Australia, Canada and China). Departing from the spirit of Indonesia's chairmanship in ASEAN-BAC 2023, ASEAN Centrality: Innovating Towards Greater Inclusivity, the important achievements obtained from the series of roadshows that have been carried out is a huge potential for cooperation, connectivity, trade and investment, the potential for the development of the electric vehicle (EV) ecosystem in ASEAN, as well as the development of new renewable energy (EBT).

The ASEAN-BAC Roadshow has brought a breath of fresh air to economic diplomacy, cementing the organization's commitment to forging strong global alliances and expanding its economic influence beyond the traditional boundaries. The insights shared through this initiative reflect the collaborative aspirations between ASEAN countries and ASEAN partner countries to continue to grow.
"Through the ASEAN-BAC roadshows, we want to strengthen cooperative relations between countries in ASEAN and non-ASEAN partners. Through bilateral and trilateral cooperation, we see an opportunity to redefine the way we collaborate. We all draw inspiration from the insights we shared during this roadshow, and together with our ASEAN-BAC partners, we aim to shape a future full of inclusive growth and shared prosperity.” said Arsjad during the press conference.

The press conference was also attended by the Co-Hosts of ABIS Sideline Events 2023, namely Vice Chairman of Kadin Indonesia for Women Empowerment, Tri Hanurita as Co-Host of the ASEAN Weekend Market; Chairwoman of the ASEAN Women Entrepreneurs Network (AWEN), Dyah Anita Prihapsari as Co-Host of the ASEAN Women CEO Forum; Representatives from the Japan External Trade Organization (JETRO), as the Co-Host of the ASEAN Future Generation Business Forum; President Commissioner Standard Chartered Bank, Rino Donosepoetro as Co-Host of the ASEAN Climate Forum; Deputy of Investment Cooperation at the Ministry of Investment / BKPM, Riyatno as Co-Host of Investment Forum; and Alpha JWC Ventures Co-Founder and General Partner, Chandra Tjan as Co-Host of Investment Forum.

Companies such as PT Astra International Tbk., Indika Energy, Sinar Mas, Bakrie Group, East Ventures, Indofood, Mayora Group, and MRT Jakarta have supported Indonesia's chairmanship journey in ASEAN-BAC 2023.

Indika Energy expressed its support. “Legacy Projects initiated by ASEAN-BAC, including the ASEAN Net Zero Hub and Carbon Center of Excellence, are aligned with our commitment to sustainable development. Through this, we seek to promote environmental management while driving economic progress, and collaborate for a sustainable future.” explained Azis Armand, Vice President Director and Group CEO of Indika Energy.

Sinar Mas also expressed its support. “MSMEs have tremendous potential to drive economic growth in the ASEAN region. Through the Inclusive Closed Loop partnership, which is one of the legacies of ASEAN-BAC 2023, all stakeholders including the government and private sector collaborate to provide consistent support to farmers and MSMEs. They are given access to technology, financial literacy, financing, and marketing, enabling them to enhance productivity, improve competitiveness, and move up the ladder,” said Franky Oesman Widjaja, Chairman & CEO of Sinar Mas Agribusiness and Food.

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