Asean private market association set to launch by year end, says Nazir Razak

KUALA LUMPUR (May 29): A new private market association is expected to be set up by year end to advise Asean governments on policies that support the growth of the industry, said banker-turned-investor Tan Sri Nazir Razak.

A pro-tem committee — comprising members from Malaysia, Singapore, Thailand, and Indonesia — has already been formed and is working towards the formal establishment of the association by year end, said Nazir, who chairs the Asean Business Advisory Council (Asean-BAC) Malaysia.

Among the issues that can be discussed are market fragmentation, and rules on taxation and ownership for the growth of the private market industry, Nazir told reporters on the sidelines of the Asean Business Forum 2025 on Thursday.

The Asean-BAC was formed following the 7th Asean Summit with the mandate to provide private-sector feedback and guidance to boost efforts towards economic integration.

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