Chairman of the ASEAN Business Advisory Council (ASEAN-BAC), Arsjad Rasjid, stressed the significant role of the private sector in strengthening policy reform across Southeast Asian nations.

As a pivotal driver of economic growth, the private sector actively assists governments in advancing policy reforms and positioning ASEAN as a global economic hub.

"The ASEAN Business & Investment Summit 2023 reaffirms the private sector's position in driving policy reform and establishing ASEAN as a center for global economic connectivity," stated Arsjad during his keynote address at the opening of the ASEAN Business & Investment Summit (ABIS) 2023 at the Sultan Hotel Jakarta on Sunday (9/3/2023).

Among the distinguished attendees at the ABIS 2023 opening were the Minister of Trade of the Republic of Indonesia, Zulkifli Hasan, ASEAN Secretary-General Kao Kim Hourn, Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), Armida Salsiah Alisjahbana, and former Foreign Minister Marty Natalegawa.

Arsjad highlighted that ABIS 2023 brought together more than 2,000 participants from 50 countries, including government officials, CEOs, and senior executives representing multinational and regional corporations.

The Strategic Role of the Private Sector

The summit, initiated by the ASEAN-BAC also highlighted the strategic role of the private sector in driving global and regional discourse on key themes of the ASEAN Summit, such as Digital Transformation, Sustainable Development, Health Resilience, Food Security, and Trade and Investment Facilitation.

He continued that under Indonesia’s chairmanship, ASEAN now stands as one of the most resilient regional organizations, successfully fostering an approach centered on regional economic development and security embodied in the concept of "ASEAN Centrality."

Since its establishment in 1967, ASEAN has demonstrated a strong commitment to promoting regional integration, maintaining stability, and achieving significant progress in economic development and technological advancement.

"Driven by political stability, regional integration, and a rapidly growing middle class, ASEAN offers significant business opportunities with relatively stable investment and a large young workforce (demographic bonus)," said Arsjad.

"As the world order continues to change rapidly amid increasing geopolitical tensions, the concept of ASEAN Centrality gains even more momentum and relevance, especially because of its deep innovative capacity, which has helped drive dynamic economic growth in the region," he added.

According to Arsjad, the ABIS 2023 Summit will emphasize the urgent need for policy actions that stimulate business and investment in ASEAN. This notably underscores the private sector's role in promoting key issues, including digital transformation, sustainable development, health resilience, food security, and trade and investment facilitation.

"The diversity of thoughts among government and business leaders in the ABIS 2023 Summit will be explored to highlight key issues impacting ASEAN's growth within the global landscape," Arsjad concluded.

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