Latest news with #Blueprint2025
New Straits Times
08-06-2025
- Business
- New Straits Times
Halal industry among key growth drivers in IMT-GT, BIMP-EAGA
KUALA LUMPUR: The rapidly-growing halal industry is among nine sectors that can trigger high economic growth in the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) and the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA). The other key sectors include sustainable agriculture and agribusiness; tourism; green and renewable energy (RE); the digital economy; transport and logistics; palm oil and downstream industries; and Islamic finance, according to International Islamic University Malaysia (IIUM) associate professor of economics, Dr Muhammad Irwan Ariffin. The marine and fisheries industries are exclusive to the BIMP-EAGA sub-region, he noted. He said the halal industry in both IMT-GT and BIMP-EAGA sub-regions holds strong global demand for halal food, cosmetics, finance and tourism. "It shares Islamic values across Malaysia, Indonesia, Brunei, southern Thailand and Mindanao, making it a strategic goal to develop IMT-GT as a global halal hub," he told Bernama. Turning to the agricultural sector, Muhammad Irwan said the combination of vast arable land and a tropical climate drives strong demand for high-value crops, organic farming, agro-processing and agribusiness value chains, which are essential for supporting rural economies. As for the digital economy, he said increasing internet access in rural areas across the sub-regions has driven the growth of e-commerce, fintech and digital skills development, alongside plans for smart cities and cross-border digital corridors. "The sub-regions, which are known for their rich biodiversity, natural parks, and cultural heritage, are increasingly focusing on eco-tourism, halal tourism, and cross-border travel circuits, supported by strategic initiatives such as the Visit IMT-GT Year 2023–2025 campaign," he continued. "In the Islamic finance sector, the large Muslim population and underserved rural communities present opportunities for inclusive growth through shariah-compliant financial services that support the development of small and medium enterprises (SMEs) across the regions." IMT-GT, BIMP-EAGA align with broader ASEAN goals Muhammad Irwan said that while ASEAN's broader goals for economic integration and connectivity are guided by the ASEAN Economic Community (AEC) Blueprint 2025 and the Master Plan on ASEAN Connectivity (MPAC) 2025, the IMT-GT and BIMP-EAGA sub-regions can align with these objectives through five key areas. Firstly, he explained that the sub-regions can support ASEAN's goal to narrow development gaps across the region by focusing on peripheral areas by creating economic opportunities in places often overlooked by national strategies, helping ASEAN advance as a more cohesive and inclusive community. Secondly, he stated that IMT-GT and BIMP-EAGA can support ASEAN's goal of developing seamless transport, trade facilitation, and digital infrastructure, as outlined in MPAC 2025, by investing in cross-border infrastructure like roads, ports, and airports, and by coordinating efforts on border trade facilitation, customs harmonisation, and logistics. "For example, BIMP-EAGA has launched 210 priority infrastructure projects (PIPs) as of October 2024, including the expansion of border economic zones and connectivity corridors, directly supporting MPAC's aim to physically link ASEAN markets," he said. Muhammad Irwan said IMT-GT and BIMP-EAGA can support ASEAN's goal to increase intra-ASEAN trade and investment by focusing on regional supply chains in agriculture, halal products, tourism, and manufacturing. For example, IMT-GT's Halal Industry Development initiative supports ASEAN's bid to become a global halal hub. "IMT-GT and BIMP-EAGA also facilitate cross-border investments and SME partnerships, which deepen economic interdependence within ASEAN and integrate border regions into the broader ASEAN market," he added. He said sub-regions can reinforce ASEAN's mission to have resilience, climate action, and sustainable development through promoting green infrastructure and sustainable tourism, such as UNESCO Geoparks. Muhammad Irwan also emphasised that IMT-GT and BIMP-EAGA can support ASEAN's goal to foster cultural ties, mobility, and shared identity by encouraging cross-border travel and joint festivals such as the Visit IMT-GT Year 2023–2025.
Barnama
04-06-2025
- Business
- Barnama
ASEAN Socio-cultural Plan To Uplift 680 Million People Through Inclusive, Resilient Community-building
KUALA LUMPUR, May 27 (Bernama) -- ASEAN has charted a bold socio-cultural agenda to uplift the lives of over 680 million people across the region by 2045, aiming to forge a resilient, inclusive and people-centred community in the face of growing global uncertainties. The plan builds on the foundation laid by the ASEAN Socio-Cultural Community (ASCC) Blueprint 2025 and responds to emerging challenges such as ageing populations, digital exclusion, public health threats, climate change and widening social inequality. 'It also recognises the opportunities arising form emerging megatrends such as digital technology advancement and green and blue economies,' according to the ASEAN 2045: Our Shared Future document. Among the key goals of the ASCC plan is to build a people-centred and interconnected community through equitable digital access, greater regional mobility, and enhanced cooperation in education, lifelong learning and social protection. The strategy also envisions a caring and inclusive ASEAN that promotes shared prosperity by investing in gender equality, women's empowerment, and stronger protections for migrant workers, persons with disabilities, and the elderly. Human security and resilience feature prominently, with ASEAN pledging to address mental health, ageing, and natural disasters through partnerships between governments, civil society and the private sector. 'Youth engagement is a high priority. The plan outlines measures to equip young people to lead in innovation, climate action and entrepreneurship, while promoting active participation in ASEAN's socio-economic development. 'Women's empowerment is another central focus. ASEAN seeks to increase female representation in decision-making, develop gender-responsive policies, and invest in care infrastructure to reduce unpaid work and improve well-being,' the document read. The ASCC Plan also highlights the importance of preserving ASEAN's rich cultural heritage. It seeks to strengthen regional identity through arts, education, digital platforms and community-based initiatives, particularly in underserved areas.
The Sun
28-05-2025
- Business
- The Sun
Tackling economic shortfalls in Asean
AS Malaysia hosts the 46th Asean Summit, 2nd Asean GCC-Summit and Asean-GCC-China Summit, a significant milestone has been announced: the Asean Economic Community (AEC) Blueprint 2025 has reached a 97% implementation rate. While commendable, this figure marks not an end but a critical juncture to reflect, recalibrate and reimagine Asean's economic trajectory in a complex global environment. Formally launched in 2015, the AEC represents Asean's most ambitious push towards regional integration. Grounded in five interconnected pillars – economic cohesion, competitiveness and innovation, sectoral cooperation, inclusivity and resilience, and global engagement – the blueprint has guided the region through significant transformation. Asean now stands as the fifth-largest global economy and the second-largest recipient of foreign direct investment. Intra-Asean trade, long criticised for its modest share of overall trade, has nonetheless grown substantially in value, increasing from US$353 billion (RM1.49 trillion) in 2007 to over US$856 billion by 2022. Tools like the Asean single window initiative have further facilitated cross-border trade, enhancing regional supply chain integration. Yet, these achievements have obscured persistent structural gaps. Intra-regional trade remains proportionally low compared to blocs like the European Union or US- Mexico-Canada Agreement, reflecting fragmented regulations and non-tariff barriers that continue to undermine the promise of a truly unified market. Even as Asean becomes more globally connected, the integration of its markets still falls short of potential, revealing a paradox that demands urgent resolution. Progress under the AEC's second pillar, which is fostering a competitive and innovative region, has also been uneven. All 10 Asean countries now possess competition laws and regulatory authorities, up from just five in 2014. However, innovation capabilities remain concentrated in a few member states such as Singapore, Malaysia and Vietnam. Others lag in research capacity, digital adoption and skills readiness, highlighting widening disparities that could threaten the region's collective competitiveness in an era shaped by technological disruption, green transition demands and intensifying geopolitical tensions. Without convergence in regulatory standards and innovation ecosystems, Asean risks falling behind. Connectivity, both physical and digital, has improved markedly but access remains unequal. While major infrastructure and logistics upgrades have reduced costs and streamlined processes, the digital divide continues to disadvantage marginalised populations and less developed economies. Bridging this gap requires not only expanded broadband access and affordability but also harmonised data governance, cybersecurity standards and digital economy frameworks. Without these foundational reforms, Asean's ambition to become a global digital hub will remain aspirational. As the AEC Blueprint 2025 nears completion, Asean must look beyond the percentage of goals fulfilled. The Asean Post-2025: Reimagining the Asean Economic Community report by the ISEAS – Yusof Ishak Institute, rightly points to a shifting context, one marked by climate volatility, inflationary pressures, geopolitical realignments and vulnerable supply chains. In such a world, resilience must become the cornerstone of the AEC's next chapter. That means integrating climate risk into economic planning, embedding equity and social protection into regional frameworks and developing agile institutions capable of collective crisis response. Institutional reforms, particularly in monitoring and dispute resolution, are essential to repositioning Asean as a proactive, credible and responsive economic bloc. Equally important is reaffirming Asean's people-first ethos. Economic integration must deliver tangible benefits to workers, small businesses and communities, not just corporations or state actors. This calls for deeper cooperation in skills recognition, labour mobility and digital upskilling, alongside expanded access to economic opportunities across all segments of society. Sustained prosperity will depend not only on growth rates or trade volumes but on how inclusively Asean can unlock the potential of its people. Externally, Asean must continue to play a constructive role in shaping global trade and investment flows. Its central role in initiatives like the Regional Comprehensive Economic Partnership offers an avenue for reinforcing multilateralism and stabilising regional architecture. But this outward posture must be matched by inward cohesion. Asean's credibility abroad will increasingly rest on its ability to deliver at home. From blueprint to breakthrough, the AEC has evolved from a set of frameworks into a platform of real consequence. But implementation alone is no longer sufficient. The challenge now is to build a bolder and more coherent vision – one that enhances integration, deepens trust and places people at the centre. Asean must move beyond box-ticking and towards building a resilient, inclusive and future-ready regional economy. Ahmad Faiz Yazid is an executive trainee at Permodalan Nasional Berhad and part of the secretariat under Yayasan Sukarelawan
The Sun
28-05-2025
- Business
- The Sun
ASEAN Economic Community Blueprint 2025 nears completion
AS Malaysia hosts the 46th Asean Summit, 2nd Asean GCC-Summit and Asean-GCC-China Summit, a significant milestone has been announced: the Asean Economic Community (AEC) Blueprint 2025 has reached a 97% implementation rate. While commendable, this figure marks not an end but a critical juncture to reflect, recalibrate and reimagine Asean's economic trajectory in a complex global environment. Formally launched in 2015, the AEC represents Asean's most ambitious push towards regional integration. Grounded in five interconnected pillars – economic cohesion, competitiveness and innovation, sectoral cooperation, inclusivity and resilience, and global engagement – the blueprint has guided the region through significant transformation. Asean now stands as the fifth-largest global economy and the second-largest recipient of foreign direct investment. Intra-Asean trade, long criticised for its modest share of overall trade, has nonetheless grown substantially in value, increasing from US$353 billion (RM1.49 trillion) in 2007 to over US$856 billion by 2022. Tools like the Asean single window initiative have further facilitated cross-border trade, enhancing regional supply chain integration. Yet, these achievements have obscured persistent structural gaps. Intra-regional trade remains proportionally low compared to blocs like the European Union or US- Mexico-Canada Agreement, reflecting fragmented regulations and non-tariff barriers that continue to undermine the promise of a truly unified market. Even as Asean becomes more globally connected, the integration of its markets still falls short of potential, revealing a paradox that demands urgent resolution. Progress under the AEC's second pillar, which is fostering a competitive and innovative region, has also been uneven. All 10 Asean countries now possess competition laws and regulatory authorities, up from just five in 2014. However, innovation capabilities remain concentrated in a few member states such as Singapore, Malaysia and Vietnam. Others lag in research capacity, digital adoption and skills readiness, highlighting widening disparities that could threaten the region's collective competitiveness in an era shaped by technological disruption, green transition demands and intensifying geopolitical tensions. Without convergence in regulatory standards and innovation ecosystems, Asean risks falling behind. Connectivity, both physical and digital, has improved markedly but access remains unequal. While major infrastructure and logistics upgrades have reduced costs and streamlined processes, the digital divide continues to disadvantage marginalised populations and less developed economies. Bridging this gap requires not only expanded broadband access and affordability but also harmonised data governance, cybersecurity standards and digital economy frameworks. Without these foundational reforms, Asean's ambition to become a global digital hub will remain aspirational. As the AEC Blueprint 2025 nears completion, Asean must look beyond the percentage of goals fulfilled. The Asean Post-2025: Reimagining the Asean Economic Community report by the ISEAS – Yusof Ishak Institute, rightly points to a shifting context, one marked by climate volatility, inflationary pressures, geopolitical realignments and vulnerable supply chains. In such a world, resilience must become the cornerstone of the AEC's next chapter. That means integrating climate risk into economic planning, embedding equity and social protection into regional frameworks and developing agile institutions capable of collective crisis response. Institutional reforms, particularly in monitoring and dispute resolution, are essential to repositioning Asean as a proactive, credible and responsive economic bloc. Equally important is reaffirming Asean's people-first ethos. Economic integration must deliver tangible benefits to workers, small businesses and communities, not just corporations or state actors. This calls for deeper cooperation in skills recognition, labour mobility and digital upskilling, alongside expanded access to economic opportunities across all segments of society. Sustained prosperity will depend not only on growth rates or trade volumes but on how inclusively Asean can unlock the potential of its people. Externally, Asean must continue to play a constructive role in shaping global trade and investment flows. Its central role in initiatives like the Regional Comprehensive Economic Partnership offers an avenue for reinforcing multilateralism and stabilising regional architecture. But this outward posture must be matched by inward cohesion. Asean's credibility abroad will increasingly rest on its ability to deliver at home. From blueprint to breakthrough, the AEC has evolved from a set of frameworks into a platform of real consequence. But implementation alone is no longer sufficient. The challenge now is to build a bolder and more coherent vision – one that enhances integration, deepens trust and places people at the centre. Asean must move beyond box-ticking and towards building a resilient, inclusive and future-ready regional economy. Ahmad Faiz Yazid is an executive trainee at Permodalan Nasional Berhad and part of the secretariat under Yayasan Sukarelawan Siswa for the Asean Summit 2025. Comments: letters@
New Straits Times
27-05-2025
- Business
- New Straits Times
AEC achievement should spur Asean to greater integration
As Malaysia hosts the 46th Asean Summit, a significant milestone has been announced: the Asean Economic Community (AEC) Blueprint 2025 has reached 97 per cent implementation rate. This marks a critical juncture to reflect, recalibrate and reimagine Asean's economic trajectory in a far more complex global environment. Formally launched in 2015, the AEC represents Asean's most ambitious push towards regional integration. Grounded in five interconnected pillars—economic cohesion, competitiveness and innovation, sectoral cooperation, inclusivity and resilience, and global engagement—the blueprint has guided the region through significant transformation. Asean now stands as the fifth-largest global economy and the second-largest recipient of foreign direct investment. Intra-Asean trade, long criticised for its modest share of overall trade, has grown substantially in value, increasing from US$353 billion in 2007 to over US$856 billion by 2022. Tools like the Asean Single Window have further facilitated cross-border trade, enhancing regional supply chain integration. Yet intra-regional trade remains proportionally low compared to blocs like the European Union or United States-Mexico-Canada Agreement, reflecting fragmented regulations and non-tariff barriers that continue to undermine the promise of a truly unified market. Even as Asean becomes more globally connected, the integration of its own markets still falls short of potential, revealing a paradox that demands urgent resolution. Progress of the AEC's second pillar, the fostering a competitive and innovative region, has been uneven. All Asean members now possess competition laws and regulatory authorities, up from just five in 2014. However, innovation capabilities remain concentrated in a few member states, such as Singapore, Malaysia and Vietnam. Others lag in research capacity, digital adoption and skills readiness, highlighting the widening disparities that could threaten the region's collective competitiveness in an era shaped by technological disruption, green transition demands and intensifying geopolitical tensions. Without convergence in regulatory standards and innovation ecosystems, Asean risks falling behind. Connectivity, both physical and digital, has improved markedly, but access remains unequal. While major infrastructure and logistics upgrades have reduced costs and streamlined processes, the digital divide continues to disadvantage marginalised populations and less developed economies. Bridging this gap requires not only expanded broadband access and affordability, but also harmonised data governance, cybersecurity standards and digital economy frameworks. Without these foundational reforms, Asean's ambition to become a global digital hub will remain aspirational. As the AEC Blueprint 2025 nears completion, Asean must look beyond the percentage of goals fulfilled. The "ASEAN Post-2025: Reimagining the ASEAN Economic Community" report by the ISEAS-Yusof Ishak Institute rightly points to a shifting context, one marked by climate volatility, inflationary pressures, geopolitical realignments and vulnerable supply chains. In such a world, resilience must become the cornerstone of the AEC's next chapter. That means integrating climate risk into economic planning, embedding equity and social protection into regional frameworks, and developing agile institutions capable of collective crisis response. Institutional reforms, particularly in monitoring and dispute resolution, are essential to reposition Asean as a proactive, credible and responsive economic bloc. Equally important is reaffirming Asean's people-first ethos. Economic integration must deliver tangible benefits to workers, small businesses and communities, not just corporations or state actors. This calls for deeper cooperation in skills recognition, labour mobility and digital upskilling, alongside expanded access to economic opportunities across all segments of society. Sustained prosperity will depend not only on growth rates or trade volumes, but also on how inclusively Asean can unlock the potential of its people. Externally, Asean must continue to play a constructive role in shaping global trade and investment flows. Its central role in initiatives like the Regional Comprehensive Economic Partnership offers an avenue for reinforcing multilateralism and stabilising regional architecture. This outward posture must be matched by inward cohesion. Asean's credibility abroad will increasingly rest on its ability to deliver at home. From blueprint to breakthrough, the AEC has evolved from a set of frameworks into a platform of real consequence. The challenge now is to build a bolder, more coherent vision. One that enhances integration, deepens trust and places people at the centre. Asean must move beyond box-ticking towards building a resilient, inclusive, and future-ready. The writer is part of the Secretariat under Yayasan Sukarelawan Siswa for the Asean Summit 2025.
