ASEAN must become global investment destination: Deputy minister

Jakarta (ANTARA News) - ASEAN must become one of the global investment destinations, due to its huge economic potentials coupled with demographic bonus, Indonesian Deputy Finance Minister Mardiasmo said.

"ASEAN has a relatively adequate and stable track record in terms of economic growth despite global economic uncertainty," he said, in his a keynote address to the 11th ASEAN Finance Ministers Investors Seminar (AFMIS), here on Tuesday.

He noted that economic stability and productive population have become the advantages of ASEAN, which is seen by many observers as one of the attractive investment destinations in the world.

"Regional integrity plays an important role in encouraging and maintaining ASEANs economic growth. As a single entity, ASEAN is now the worlds seventh largest economy, with gross domestic product reaching US $2.48 trillion," he said.

He added that there were five strategies that could be pursued and developed to attract investors from the rest of the world to invest in the region.

The first strategy was to increase investment in public infrastructure in each ASEAN member state; the second was to create wider access for small and medium businessmen to digital technology; the third was to ensure smooth trade among ASEAN member states; the fourth was to continue harmonized standards and regulations to eliminate trade obstacles; and the fifth was to support the mobility of labors in the region and encourage productivity by improving skills.

Trade among ASEAN member states reached $2.28 trillion in 2015, while direct foreign investment in ASEAN was recorded at $120 billion or 11 percent of the worlds foreign direct investment.(*)

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