NextGen Day

Arsjad Rasjid, chairman of the Indonesian Chamber of Commerce and Industry (KADIN), stated on Friday that Indonesia has enormous potential to become the ASEAN axis of the global economy.

The ASEAN Summit will be presided over by Indonesia the following year, and Rasjid has been chosen to lead the 2023 ASEAN Business Advisory Council (BAC), a crucial platform for the regional business community.

“The 600 million individuals who make up ASEAN are its whole population. Indonesia contributes 275 million people, the bulk of whom are of working age and prepared to sustain a future-oriented regional economy. Next year, we will be leading the ASEAN Chair, and we must encourage greater connectivity and productivity in the region “In a statement, he said.

He said that until ASEAN released its might as an economic force in recent decades, it had been one of the “underdogs” in interregional economic competitiveness.

The area has transformed from one of the world’s poorest to one of the most alluring developing markets.

The GDP of ASEAN was only reported at US$29 billion in 1970, but it increased significantly over time, reaching US$3.6 trillion in 2021.

He went on to say that ASEAN’s economic development rate is really higher than that of other developing nations like Eastern Europe, Africa, Latin America, and Central Asia.

Rasjid noted that the business sector was at the heart of the ASEAN region’s economic expansion.

In the midst of a shift in global influence from superpowers to the Indo-Pacific region, he also underlined that the business sector should promote the ASEAN community’s unity, inclusivity, and competitiveness.

As he noted, “ASEAN itself must be able to boost productivity and connection among countries in the ASEAN region if ASEAN is to become a global economic axis.

Similar to the B20 2022 Summit, Indonesia will also bring a few auxiliary projects that will be explored in the ASEAN BAC 2023’s two main priority subjects of digitization and sustainable development.

He emphasized the B20 Summit’s accomplishments, which included 68 memoranda of understanding and investments totaling more than US$18 billion.

He anticipated that through expanding investment in projects that fit the two major themes of ASEAN BAC 2023, the ASEAN BAC would allow Indonesia to experience a comparable level of success.

He said, “ASEAN must be an appealing menu for international investors to assist regional growth.

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