26/05/2023 01:22 PM

KUALA LUMPUR, May 26 (Bernama) — The Asean Business Advisory Council (Asean-BAC) Malaysia has launched the Asean-BAC Malaysia Circle (ABMC), a platform for Malaysian regional companies to actively support Asean integration and the government’s preparations for Malaysia’s chairmanship in 2025. 

In a statement, Asean-BAC Malaysia said ABMC members would form the wider circle of businesses on which Asean-BAC Malaysia council members would lean for advice and suggestions on regional issues and concerns through its engagements with Asean leaders, economic ministers, regulators, government agencies, and other business groups. 

ABMC is made up of representatives from renowned Malaysian corporations with strong regional presence, including AirAsia, Aerodyne, Carsome, CIMB Group, Creador, Genting, Ikhlas Capital, Khazanah Nasional, Kuala Lumpur Kepong (KLK) and MyEG.

“We are extremely grateful for the support of these regional companies. Malaysia is in the run-up to lead the Asean Community and it needs the private sector to step up and play its part. 

“After all, a more conducive regional business environment could benefit our regional companies tremendously,” said Asean-BAC Malaysia’s chairman Tan Sri Nazir Razak. 

The platform was launched by the Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. 

In conjunction with the launch, a roundtable dialogue between Tengku Zafrul and ABMC members was held to discuss various pressing challenges to regional economic integration, including MITI’s ongoing effort in preparation for Asean 2025 Chairmanship, and how the private sector can support the government’s initiatives. 

“As the private sector is a co-creator of Asean’s prosperity and development, Malaysian public-private sector collaboration is key to capturing part of Asean’s growth, projected at 4.7 per cent in 2023 and 5.0 per cent in 2024,” Tengku Zafrul said during the roundtable.

He added that MITI is looking forward to working closely with the private sector to facilitate discussions that could advance industry, trade and investments in the region. 

In preparation for Malaysia’s impending Chairmanship of Asean in 2025, Tengku Zafrul said the Priority Economic Deliverables should focus on advancing Malaysia’s interest and Asean’s effort in establishing Asean as an integrated single market that is sustainable, competitive, innovative, and responsive to future challenges.


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