Biofuels, Solar Power Identified As Strategic Investment-Ready Projects For ASEAN

By Karina Imran

KUALA LUMPUR, Oct 24 (Bernama) -- Biofuels and solar power have been identified as strategic investment-ready projects for ASEAN between 2025 and 2030, a move that will further entrench the grouping’s shared commitment towards sustainable investments and safeguarding the environment.

These projects were identified under the ASEAN Regional Investment Promotion Action Plan (RIPAP), which seeks to align national investment strategies with shared regional priorities.

This was revealed in a joint statement issued by the Ministry of Investment, Trade and Industry (MITI) and the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) at the third ASEAN Investment Forum 2025 (AIF 2025), held in conjunction with the 47th ASEAN Summit and Related Summits hosted by Malaysia.

The statement said that these sectors were selected for their strong growth potential, alignment with national development goals and their relevance to regional value chains.

“For investors seeking actionable entry points into ASEAN’s sustainable industrial transformation, AIF 2025 offered direct access to credible projects, valuable country-level insights and opportunities for regional collaboration,” it said.

AIF 2025, co-organised by MITI, the Malaysian Investment Development Authority, ASEAN Secretariat, ASEAN Coordinating Committee on Investment (CCI), ASEAN Business Advisory Council (ASEAN-BAC) and UN ESCAP, further reaffirmed ASEAN’s position as a stable, transparent and dynamic investment destination. 

The investment forum aims to reinforce ASEAN’s positioning as an integrated, resilient and investor-ready region by promoting foreign investment as a key driver of inclusive and sustainable economic transformation.

Besides this, a memorandum of understanding was signed between UN ESCAP and ASEAN-BAC, underscoring their shared commitment to strengthening regional connectivity, enhancing supply chain resilience and supporting the development of micro, small and medium enterprises (MSMEs) across ASEAN through joint capacity-building initiatives, policy dialogues and technical assistance.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz said in the statement that ASEAN’s strength lies in its unity and shared purpose.

“Through our Priority Economic Deliverables (PEDs), we are effectively advancing a cohesive regional investment proposition, reinforcing our position as an integrated, resilient, and investor-ready region, while laying the foundation for inclusive and sustainable growth. 

“Through deeper collaboration between investors, governments and investment promotion agencies, we are also shaping ASEAN into a dynamic hub for opportunity, innovation, and long-term prosperity,” he said.

AIF 2025 also served as a platform for dialogue among investment promotion agencies, policymakers, and private-sector stakeholders to foster sustainable and inclusive investment flows, while a high-level ministerial plenary explored ASEAN’s competitiveness in a shifting global landscape, emphasising the region’s role as a stable and trusted partner for quality investment. 

During the forum, ministers also discussed the importance of strengthening regional coherence, aligning national promotion strategies with ASEAN-wide sectoral priorities and leveraging foreign investment to support sustainability, innovation, and inclusive growth.

-- BERNAMA