Latest news with #ASEAN
Malay Mail
2 hours ago
- Business
- Malay Mail
Malaysia backs youth-led ventures as Asean chair, touts digital treaty and NIMP 2030 as key enablers
KUALA LUMPUR, June 28 — The Ministry of Investment, Trade and Industry (MITI) is actively creating more space for young entrepreneurs to thrive, in line with Malaysia's role as Asean chair, said Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said that through initiatives such as the Asean SME Academy and the Digital Economy Framework Agreement (DEFA), the ministry is breaking down barriers so that these entrepreneurs can start, scale, and connect their ventures beyond borders. 'DEFA, the world's first regional digital economy treaty, is projected to grow Asean's digital economy to over US$2 trillion by 2030 and generate millions of jobs. These are not just statistics; they are doorways to your future,' he said in his closing keynote address at the Nusantara Youth Forum 2025 held in Putrajaya today. Tengku Zafrul said that as Malaysia opens doors for young entrepreneurs and innovators, it is important to mention how Malaysia's own long-term strategies align with these regional ambitions. 'Through the New Industrial Master Plan 2030 (NIMP 2030), Malaysia is transforming our industrial landscape by focusing on high value-added sectors, advanced manufacturing, and future-oriented skills. 'NIMP's core mission is to create quality jobs and ensure our industries – especially in electrical and electronics (and) green tech – remain globally competitive, resilient, and sustainable,' he said. According to the minister, national frameworks such as NIMP are not just about Malaysia's progress. 'They also complement Asean initiatives like DEFA and the Asean SME Academy, creating a seamless ecosystem that supports youth, from upskilling and financing to market access, so you can truly take your ideas from the region to the world,' he said. Tengku Zafrul also gave recognition to arts and culture, saying that too often, the creative sector is wrongly treated as secondary to the 'main economy.' 'The truth is, culture and creativity are economic engines, identity builders and bridges between nations,' he said, adding that Asean's creative industries, from music to film, are gaining global attention. The MITI Minister said he cannot overstate the importance of entrepreneurship in driving both economic progress and social transformation. 'Today, the most exciting businesses in Malaysia, and indeed throughout Asean, are being founded, led, and grown by youths. 'Whether you are developing tech solutions, running sustainable farms, designing innovative products, or launching platforms for social impact, you show the world what is possible when ambition is united with purpose,' he added. — Bernama
The Sun
3 hours ago
- Business
- The Sun
MITI boosts young entrepreneurs via DEFA and ASEAN SME Academy
KUALA LUMPUR: The Ministry of Investment, Trade and Industry (MITI) is expanding opportunities for young entrepreneurs, leveraging Malaysia's ASEAN chairmanship to foster cross-border business growth. Minister Tengku Datuk Seri Zafrul Abdul Aziz highlighted key initiatives like the ASEAN SME Academy and the Digital Economy Framework Agreement (DEFA) as pivotal in breaking barriers for startups. Speaking at the Nusantara Youth Forum 2025 in Putrajaya, Tengku Zafrul emphasised DEFA's potential to elevate ASEAN's digital economy to over US$2 trillion by 2030. 'These are not just statistics; they are doorways to your future,' he said, underlining the treaty's role in job creation and regional connectivity. Malaysia's New Industrial Master Plan 2030 (NIMP 2030) further aligns with these goals, prioritising high-value sectors like advanced manufacturing and green technology. 'NIMP's mission is to ensure our industries remain competitive and sustainable,' he added, noting its synergy with ASEAN-wide programmes for youth upskilling and market access. Tengku Zafrul also championed the creative economy, dismissing its marginalisation as outdated. 'Culture and creativity are economic engines,' he said, citing ASEAN's rising global influence in music and film. He lauded young entrepreneurs driving innovation across tech, agriculture, and social impact sectors, stating, 'You show the world what's possible when ambition meets purpose.'
Barnama
10 hours ago
- Politics
- Barnama
South Korea Praises Malaysia's ASEAN Chair Role In Myanmar Crisis
KUALA LUMPUR, June 27 — South Korea's Ambassador to Malaysia, Yeo Seung Bae, speaks to Bernama in an exclusive interview at the Korean Embassy, highlighting the success of the recently concluded 12-day K-Culture Festival held from June 11 to 22. Organised in collaboration with the Ministry of Tourism, Arts and Culture (MOTAC) and various Korean government agencies, the event exceeds expectations, drawing over 35,000 visitors of all ages and backgrounds — a testament, Yeo says, to South Korea's growing cultural appeal among Malaysians. -- fotoBERNAMA (2025) COPYRIGHT RESERVED By Nur Atiq Maisarah Suhaimi & Nur Elysa Amirah Suhaimi KUALA LUMPUR, June 28 (Bernama) -- South Korea has praised Malaysia's active leadership as Chair of the Association of Southeast Asian Nations (ASEAN), highlighting its constructive role in promoting regional peace and stability. South Korea's Ambassador to Malaysia Yeo Seung Bae said that as ASEAN organises for peace and stability in Southeast Asia, Malaysia as the chair plays an important and active role, especially in addressing the ongoing crisis in Myanmar. bootstrap slideshow 'Prime Minister Datuk Seri Anwar Ibrahim visited Bangkok a couple of months ago and met both the military leadership and the opposition leadership. 'By doing this important role as Chair, Malaysia is making a positive contribution to regional peace and stability. 'In that regard, Korea highly appreciates the role of Malaysia, and our government will continue to support Malaysia's active role as the ASEAN Chair,' he told Bernama in an interview recently. In May 2025, Anwar initiated separate dialogues with Myanmar's junta leader Min Aung Hlaing and the opposition National Unity Government (NUG), marking a significant step towards fostering direct engagement between the conflicting parties. Subsequently, Foreign Minister Datuk Seri Mohamad Hasan said the ASEAN Foreign Ministers' Meeting (AMM 2025) held in May also agreed that ASEAN would undertake internal consultations on the proposal to appoint a permanent ASEAN Special Envoy on Myanmar for a three-year term, a move aimed at ensuring continuity and sustained engagement in addressing the protracted crisis. On June 22, Malaysia called for enhanced collaboration between ASEAN and the Organisation of Islamic Cooperation (OIC) to address the deteriorating situation in Myanmar, with a focus on ending violence, alleviating the humanitarian crisis, and supporting long-term peace in the country.
Free Malaysia Today
13 hours ago
- Business
- Free Malaysia Today
Russia-Asean energy ties could unlock billion-dollar nuclear market, says analyst
Asean and Russia renewed their energy cooperation framework and launched a capacity-building project on energy statistics at an energy meeting held in Kuching earlier this month. (Bernama pic) PETALING JAYA : Asean's continued collaboration with Russia in the energy sector could pave the way for the development of a regional nuclear energy market, unlocking a plethora of spillover benefits across the economy, talent development, and energy transition, according to an analyst. Elena Burova, a senior research fellow at the Institute of China and Contemporary Asia, described nuclear energy as 'one of the youngest and most dynamically developing sectors of the global economy'. 'This is because nuclear projects are large, technologically advanced projects with many spillover effects to country economies. 'A large-scale nuclear power plant in Asean can bring US$62 billion of gross domestic product input (to the region) as well as over 20,000 jobs during construction and 7,000 permanent jobs for the operation and associated industries,' she said. The 43rd Asean Senior Officials' Meeting on Energy held earlier this month in Kuching, Sarawak, saw the launch of the Asean-Russia Capacity Building on Energy Statistics project and the renewal of an energy cooperation framework for 2026 to 2028. Elena Vikulova, Russia's deputy head of its directorate of international cooperation, said in her opening remarks that there is strong potential for Asean-Russia energy cooperation given the region's surging energy demand. In April, deputy prime minister Fadillah Yusof said the International Energy Agency has agreed to support and assist Malaysia in drafting policies to explore and study the use of nuclear energy. He is currently on a working visit to Russia until June 28, partly to explore further nuclear energy cooperation with the nation's state-owned nuclear arm Rosatom. This follows Prime Minister Anwar Ibrahim's trip to Moscow earlier this year which saw nuclear energy emerge as a key area of collaboration. Nuclear energy, as a zero-emission and reliable source of clean energy, has drawn growing interest from Asean countries in their pursuit of energy transition goals. On Wednesday, Bloomberg reported that Vietnam was seeking urgent negotiations with Russia over an investment cooperation agreement concerning the development of its Ninh Thuan 1 nuclear power plant in August. The country shelved earlier efforts in 2016 due to high construction costs and safety concerns, but is revisiting nuclear to bolster its energy security and meet economic growth targets. Burova added that Russia has a wealth of experience in developing nuclear energy, with Rosatom currently building 22 out of 24 reactor units for export worldwide. It has built over 110 units since its inception in 2007. 'Rosatom has an important advantage that it can assist in localising a large number of jobs to the Asean workforce. 'This includes local manufacturing and engineering of heavy and specialised equipment, employing local labour, construction materials, consumables, tools and materials at the site,' she said.
The Diplomat
a day ago
- Politics
- The Diplomat
On Regional Tensions, Don't Expect Too Much of ASEAN
In the last week of May, Southeast Asia witnessed a series of significant diplomatic developments. Multiple ASEAN-led meetings were convened in Kuala Lumpur, including the ASEAN Summit, the ASEAN-GCC Summit, and the inaugural ASEAN-GCC-China Summit. Immediately following these meetings, the Shangri-La Dialogue defense conference 2025 took place in Singapore. During the same week, Thai and Cambodian troops skirmished along a disputed part of their nations' border, leaving one Cambodian soldier dead. These incidents – alongside the ongoing conflict in Myanmar and persistent maritime clashes between China and the Philippines in the South China Sea – underscore the increasingly dynamic and complex security environment facing the region. The Association of Southeast Asian Nations (ASEAN) is well-positioned to play an active role in managing, though not solving, these regional conflicts. While some believe that ASEAN should attempt to resolve such conflicts, it is important to clarify that ASEAN was established primarily as a conflict management platform. It is not structured, nor is it equipped, for conflict resolution in the traditional sense, given the nature of its operating and decision-making mechanisms. To understand ASEAN's limitations in resolving conflicts, we must revisit the rationale behind its formation and the foundational principles that guide its operations. ASEAN was founded in August 1967, in the aftermath of the Indonesia–Malaysia Konfrontasi and during the intensification of the Vietnam War. Its aim was to foster peace, stability, and prosperity in the region. Its five founding members – Malaysia, Indonesia, Singapore, Thailand, and the Philippines – envisioned it as a platform for regional confidence-building. Initially, ASEAN focused on cooperation on socio-economic and cultural matters. Since the end of the Cold War, ASEAN has expanded to include all Southeast Asian nations, with the last remaining outlier, Timor-Leste, expected to become a full member by the end of 2025. It has also broadened its multilateral engagements through various mechanisms – such as the ASEAN Regional Forum, the ASEAN Defense Ministers' Meeting, the ASEAN Political-Security Community, and the ASEAN Community – which aim to facilitate dialogue on security and economic cooperation. These forums allow for inclusive discussions and trust-building but often stop short of producing concrete and binding outcomes, particularly on contentious geopolitical matters. Two core principles define ASEAN's identity: non-intervention in the internal affairs of member states, and consensus-based decision-making. These enduring and pragmatic principles have enabled ASEAN to remain an inclusive and sustainable organization. ASEAN's approach to regional disputes stems from these principles, as demonstrated in the Five-Point Consensus plan addressing the Myanmar conflict, and in the ongoing negotiations over an ASEAN-China Code of Conduct for the South China Sea. The Five-Point Consensus on Myanmar was adopted in April 2021, three months after the Myanmar military's coup d'état, when ASEAN leaders reached a collective agreement on how to manage the Myanmar crisis, though the Consensus lacks binding and enforceable actions. Meanwhile, negotiations for the ASEAN-China Code of Conduct have spanned over two decades, illustrating both the inclusive nature of ASEAN's consensus-based approach, which values every member's input, and the inherent difficulty of reaching unified agreement on complex and sensitive issues. Moreover, external actors such as China, the United States, and the European Union continue to exert influence on ASEAN's internal dynamics, further complicating the process of establishing unified regional positions. It is therefore necessary to temper expectations regarding ASEAN's capacity to resolve deeply rooted regional issues. ASEAN and its mechanisms were never intended for such a role. The bloc lacks binding legal instruments and enforcement capabilities, and its consensus-based approach means that it is often hampered by divergent political priorities among member states, particularly on issues that touch upon their core national interests. In light of these structural limitations, ASEAN cannot be expected to assume a greater role in managing today's regional security challenges. Instead, its value lies in providing an important platform for fostering dialogues and confidence-building measures. While limited in yielding immediate and context-specific tangible outcomes, these remain essential for long-term regional stability.
