KUALA LUMPUR, Oct 9 — The Selangor Asean Business Conference (SABC) 2025 has been touted as a valuable platform for dialogue among policymakers, business leaders, and regional partners to develop ideas and initiatives that drive investment into the region.
Asean Secretariat deputy secretary-general (Economic Community) Satvinder Singh said the conference supports Malaysia’s efforts to advance regional economic integration, particularly as the country holds the Asean chairmanship this year.
He noted that Asean has emerged as an influential region, collectively ranking as the world’s fifth-largest economy and projected to become the fourth by 2030.
“This is the result of decades of consistent integration and reform, driven by a shared commitment to economic development even amid challenging global conditions.
“Asean's gross domestic product (GDP) reached US$3.93 trillion (RM16.56 trillion) in 2024, up from US$3.74 trillion (RM15.76 trillion) the previous year.
"This year, Asean's economic growth is projected to reach 4.2 per cent, which is beyond the global average," Satvinder said in a special address at the SABC Day Two opening session, held in conjunction with the Selangor International Business Summit (SIBS) at the Kuala Lumpur Convention Centre today.
His speech was delivered by the Asean Secretariat's Services and Investment Division head Tai Hiong Tan.
Satvinder added that foreign direct investment (FDI) into Asean has also been equally robust, attracting US$226 billion (RM952.5 billion) last year, hence maintaining its position as the top FDI recipient among developing regions for the fourth consecutive year.
"This reflects the confidence of global investors in our region, and as one of the most attractive investment destinations,” he said.
Meanwhile, Satvinder suggested that the SABC deliberate on how investors, the business community, and policymakers can work together in addressing three core areas.
The first is to enhance engagement with the private sector to develop inter-Asean investment initiatives, emphasising the importance of promoting greater inclusivity in policy formulation.
"Second, we need to strengthen the regional supply chain in key industries like semiconductor and automotive.
"Asean possesses a great deal of manufacturers in a time of unpredictable external disruptions. Strong supplies and networks are becoming more important than ever,” he said.
Finally, Satvinder emphasised the need to promote sustainable investments that contribute to achieving the Sustainable Development Goals (SDGs).
