KUALA LUMPUR, Oct 9 — Asean must prioritise small, concrete steps that deliver tangible progress, said Asean Business Advisory Council (Asean-BAC) chairman Tan Sri Nazir Razak.
Speaking at the opening of the Selangor Asean Business Conference (SABC) today, he said that conceptual reports and long-term visions had limited value unless the bloc pursued clear and practical steps.
“With respect, I pay very little attention to the big macro, long-term reports or studies. It is too easy to promise something that is meant to happen in 20 years’ time, which remains very conceptual.
“What we need to do is be very clear on the specific steps we will take forward,” Nazir said.
He cited the Johor-Singapore Special Economic Zone as an example of how sub-regional integration could advance cooperation more effectively than attempts at consensus across all ten member states.
“It is very difficult to do Asean at the macro level, with so many countries and so many divergent interests.
“But when you do it at the micro level, at the sub-regional level, you can make a lot of progress. With that progress being demonstrated, you can trigger more and more integration,” Nazir said.
He also cited Indonesia’s recent request to join the initiative, which reflected its potential to act as a catalyst for future growth.
Under Malaysia’s chairmanship this year, the Asean-BAC has advanced 12 initiatives, including specific policy proposals like creating an Asean business entity and introducing an Asean IPO prospectus, which are now under consideration with the Malaysian Securities Commission.
“InsyaAllah (God willing), we will see some progress this year, and hopefully under the Philippines’ chairmanship in 2026, it will continue,” Nazir said.
The council also produced five reports for governments on key areas, including talent mobility, private market development, and sustainability reporting, while establishing four new platforms: the Asean Private Market Council, the Malaysia AI Private Sector Council, the Malaysia Carbon Credit Association, and the soon-to-be-launched Asean CSR Council.
“Again, this is a demonstration of the work we have done, which has landed. We have not just been conceptual; we have been clear that we must move forward, and we have moved forward,” he said.
SABC is conducted in conjunction with the Selangor International Business Summit (SIBS) 2025 at the Kuala Lumpur Convention Centre from yesterday to Saturday (October 11).
