KUALA LUMPUR: Micro, small, and medium enterprises (MSMEs), women, and the youth are poised to benefit significantly from Malaysia's role as the Asean chairmanship in 2025.
Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said this is an opportune moment for youths, women, and MSMEs to strategically position themselves to harness Malaysia's growth trajectory, which aligns seamlessly with Asean's broader growth narrative.
He noted that Asean, with a gross domestic product (GDP) of US$3.7 trillion, is set to grow 4.5 per cent to 5.5 per cent from 2025 to 2030, becoming the world's fourth-largest economic bloc by 2030.
"If we were to take just six countries in Asean, namely Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, we see the fastest rate of year-on-year growth over the past four quarters.
"We see strong numbers from a GDP, trade momentum, industrial activity, and labour perspectives. Furthermore, by 2045, Asean's population is expected to exceed 800 million. This makes Asean a highly attractive market to global investors and exporters.
"All this is a big deal, particularly in the context of current geopolitics, where major supply chains are seeking out more neutral bases, such as Asean," he said after officiating the Asean-Malaysia Business Forum 2024 here today.
Commenting further, Tengku Zafrul said MITI and its agencies have been actively engaging women entrepreneurs through various platforms and programmes to boost the capacity of women in the industrial and export sectors.
He added that his ministry aims to ensure that Malaysian women entrepreneurs have greater access to opportunities within Malaysia and Asean.
"We also aim to help Malaysian female entrepreneurs connect to regional entrepreneurs through the Asean Women Entrepreneurs' Network (AWEN).
"This is a regional network of women-based organisations representing women in all economic sectors in the Asean member states," he noted.
Meanwhile, for MSMEs, Tengku Zafrul said they should take advantage of the various free trade agreements (FTAs) with Asean countries, as well as between Asean and other economic regions, such as the Regional Comprehensive Economic Partnership (RCEP).
As for the youths, he encouraged them to seize this opportunity to connect with like-minded individuals and professionals who can support their progress, especially within the Asean region.
He urged them to volunteer for key Asean events next year to gain valuable exposure and build their professional networks.
Furthermore, Tengku Zafrul said in the face of today's global challenges ranging from geopolitics and trade wars to supply chain issues, climate change risks, and the darker aspects of artificial intelligence (AI) and technology—Asean member states must think and act together to thrive.
"I strongly believe that how Malaysia steers Asean towards its aspirations in 2025 will have an impact that will last well beyond 2025 and even beyond our lifetimes.
"Let's look forward to our Asean chairmanship year with enthusiasm while making this region that we all call home much stronger and more united," he noted.