"Amid the unwell current world situation, ASEAN needs an extraordinary tactical strategy," he underlined while opening the ASEAN Business and Investment Summit at the State Palace in Jakarta on Friday.
He emphasized the need for solid collaboration in ASEAN that prioritizes mutual interests, both in relations between countries, between entrepreneurs, and between communities.
Under Indonesia's chairmanship, the ASEAN Business Advisory Council (ASEAN-BAC) organized the ASEAN Business & Investment Summit 2023 that bring together more than 2,000 world leaders, CEOs, and senior executives representing multinational and regional corporations.
President Widodo then described ASEAN as a family that is harmonious, compact, and accomplished. He also quoted a saying relevant to ASEAN.
"A neighbor is like a close relative, and a close neighbor is more important than a distant relative," he said.
According to Widodo, ASEAN has been able to prove its ability to be a peaceful, stable, and prosperous region.
He said that ASEAN economic growth in 2024 is estimated to be the highest in the world, reaching 4.5 percent (year on year/yoy). ASEAN is also listed as the most attractive region for foreign direct investment (FDI).
"In 2022, the percentage of FDI in ASEAN was 17 percent. This was the highest among other developing regions," he highlighted.
With the third-largest workforce in the world, ASEAN is experiencing a demographic bonus, he noted. As much as 65 percent of ASEAN's population has the potential to become middle class by 2030.
According to him, this is a big capital for ASEAN to achieve its goal of becoming the epicenter of growth.
Given the advantages and challenges faced by ASEAN currently, it is hoped that the ASEAN-BAC would play a bigger role in formulating and implementing tactical strategies for cross-stakeholder collaboration, President Widodo said.
It is also expected that the ASEAN Incorporated concept introduced by ASEAN-BAC will bridge communication to realize a mutually beneficial ecosystem, increase competitiveness, and improve ASEAN's prosperity, he added.
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Translator: Indra Arief P, Resinta S
Editor: Sri Haryati
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