Chairman of the ASEAN Business Advisory Council (ASEAN-BAC), Arsjad Rasjid, reaffirmed his commitment to enhancing trade and investment facilitation across the ASEAN region. As a crucial driver of economic growth and regional integration, ASEAN-BAC aims to develop a business-friendly environment, attract investments and facilitate cross-border trade.

Citing ASEAN, In 2020, around 23% of trade and 15% of investment were generated within the region. ASEAN aims to double this figure by further enhancing economic integration and cooperation among its member countries. In terms of investment, ASEAN received a total inflow of $137 billion in foreign direct investment (FDI) in 2020. This indicates the attractiveness of the ASEAN region for investment opportunities.

Trade and investment facilitation is one of the priority issues for ASEAN-BAC. By promoting closer collaboration between governments, businesses, and other stakeholders, ASEAN-BAC strives to eliminate barriers, streamline processes, and leverage technology to create a conducive ecosystem for sustainable economic development.

"As ASEAN moves within the global economic landscape, it is important to enhance trade and investment facilitation to strengthen our competitiveness and resilience. ASEAN-BAC is committed to promoting the smooth flow of goods, services, and investments, which will drive economic growth, job creation, and improve livelihoods in our region," explained Arsjad.

The Pillar for Trade and Investment Facilitation through ASEAN Business Awards 2023

The ASEAN Business Awards 2023, a prestigious event organized by the ASEAN-Business Advisory Council (ASEAN-BAC), bestows significant recognition to Trade and Investment Facilitation as one of its award pillars. Under this pillar, the ABA acknowledges outstanding achievements in two categories: Export Growth and Innovative Investment, which make significant contributions to the economic growth and integration of ASEAN member countries.

"The ASEAN Business Awards 2023, with the pillar of Trade and Investment Facilitation, serves as a platform to recognize and celebrate outstanding businesses in this field, inspiring others to actively participate in regional trade and investment activities. Through these efforts, we are committed to positioning a prosperous ASEAN at the forefront of global trade and investment," emphasized Arsjad.

Export Growth and Innovative Investment Award Categories

The Export Growth category recognizes businesses that have demonstrated outstanding performance in expanding their export activities within the ASEAN region. These businesses have successfully leveraged the wide market opportunities in ASEAN, utilizing their strengths to drive export growth, create jobs, and contribute to regional economic development. By showcasing success stories and best practices, the ABA aims to inspire and encourage more businesses to explore and expand their export activities in ASEAN.

Moreover, the Innovative Investment category awards businesses that have shown exceptional creativity in investment strategies or financing models. This category focuses on investments that have transformative impacts on industries, contribute to technological advancements, drive sustainable development, and create job opportunities. By highlighting these innovative investment efforts, the ABA 2023 aims to foster further investment in ASEAN and promote regional economic progress.

Companies such as PT Astra International Tbk., Indika Energy, Sinar Mas, Bakrie Group, East Ventures, and Mayora Group also echoed their commitment to promote trade and investment facilitation in the ASEAN region.

"We see massive opportunities and potential in increasing trade and investment facilities in ASEAN. This is in line with Indika Energy's expertise and resources which are committed to supporting sustainable economic development, as well as strengthening cooperation with ASEAN member countries," said Azis Armand, Deputy President Director and Group CEO of Indika Energy.

"Sinar Mas continues to provide support for initiatives that encourage a business-friendly environment, remove barriers, and strengthen economic integration in the ASEAN region. ABA 2023 is a great opportunity to appreciate companies, industries and individuals who have added value to their environment and act as an inspiration for other industries," said Franky Oesman Widjaja, Chairman and CEO of Sinar Mas Agribusiness & Food who is also the 2023 ABA Expert Judge for the Food Security category.

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