ASEAN-BAC Malaysia Proposes the ASEAN Business Entity (ABE) Category to Foster Regional Business Growth, 28 May 2024

The challenges of achieving economic unity are becoming increasingly complex. Geopolitical uncertainties and the rise of non-tariff barriers (NTBs) are significant hurdles, even as traditional tariffs have remained low through free trade agreements.

Tan Sri Nazir Razak, Chairman of ASEAN-BAC Malaysia, recently discussed the importance of private sector involvement in regional integration and economic acceleration. He highlighted the need for improved capital flows within ASEAN and new policies to streamline and simplify intra-ASEAN transactions, notably the ASEAN Business Entity (ABE) and ASEAN IPO Prospectus, to bring ASEAN member states closer together and enable them to reap economies of scale. 

The private sector should be at the forefront of driving economic growth, with strong government policies being essential to support progress. ASEAN-BAC Malaysia is laying the groundwork for these initiatives in preparation for Malaysia’s chairmanship of ASEAN in 2025.

Read more on BERNAMA: https://www.bernama.com/en/news.php?id=2302300