Asean-BAC to launch private-markets association in bid to attract US$60 billion regional funding

^{China Galaxy Securities chairman Wang Sheng (left) and Asean-BAC Malaysia chairman Nazir Razak at the Asean Business Forum 2025. PHOTO: CGS INTERNATIONAL}

The council is also pushing for an Asean Business Entity – a proposed classification that would allow companies to operate across the bloc with greater flexibility

[KUALA LUMPUR] The Asean Business Advisory Council (Asean-BAC) plans to establish a regional private-markets association by year end to unlock as much as US$60 billion in private equity and venture funding to support small and medium-sized enterprises and startups across South-east Asia.

Speaking at the Asean Business Forum 2025, Asean-BAC Malaysia chairman Nazir Razak said the move comes amid growing concerns that Asean’s private-capital ecosystem remains underdeveloped, representing just 0.5 per cent of the region’s gross domestic product – far below the global average of 1.5 per cent.

He noted that the council has been working with the governments of Malaysia, Singapore, Thailand and Indonesia to formalise the Asean Private Markets Association. The entity will serve as a platform to advise governments on policy reforms aimed at unlocking long-term capital.

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