Assalamu’alaikum warahmatullahi wabarakatuh,
Good Afternoon,
May prosperity be upon us all.

Distinguished Cabinet Ministers;
Distinguished Chairperson of ASEAN Business Advisory Council (ASEAN BAC) Mr Arsjad Rasjid and Distinguished Members of the ASEAN BAC, as well as Entrepreneurs from ASEAN Region and from ASEAN partner countries;
Ladies and Gentlemen,

An Indonesian proverb says that a neighbor is like a close relative, and a close neighbor is more important than a distant relative. I am of the view that the proverb is very, very relevant for ASEAN that 56 years ago pledged its kinship with the ASEAN family name. As a family, in my opinion, ASEAN is in the category of harmonious families, in the category of strong families, and in the category of high achiever families.

ASEAN has proven itself as a peaceful region, as a stable region, and as a region that is growing in prosperity. We can see that ASEAN’s economic growth in 2024 is estimated to be the highest in the world, reaching 4.5 percent (year on year). ASEAN is also the most attractive region for Foreign Direct Investment (FDI). By 2022, 17 percent of FDI will go to ASEAN. That is the highest number compared to other developing regions.

ASEAN is also enjoying a demographic bonus with the third largest workforce in the world, and 65 percent of its population has the potential to become the middle class in 2030. We must applaud this, because all of this is part of ASEAN’s capital to achieve its goal of becoming the epicenter of growth.

However, amid the turbulent global situation, ASEAN should not do business as usual. ASEAN needs extraordinary strategy, the extraordinary tactical strategy. It is not a grand strategy, but an extraordinary tactical strategy. We need a more solid collaboration; we can’t do it alone. Strong cooperation between countries, businesses community and the public in the region is important in implementing the tactical strategy.

To that end, ASEAN business community, particularly the members of the ASEAN Business Advisory Council (BAC), should play a more strategic role in the formulation and implementation of the cross-stakeholder tactical collaboration strategy. This is very important. I hope that the concept of ASEAN Incorporated conveyed by Mr Arsjad, which was also introduced by the ASEAN BAC, can become a bridge of communication to create a mutually beneficial ecosystem to strengthen ASEAN’s competitiveness and improve ASEAN’s welfare.

That concludes my remarks. By saying bismillahirrahmanirrahim, I officially open the 2023 ASEAN Business and Investment Summit.

I thank You.

Wassalamualaikum warahmatullahi wabarakatuh.

(RI/LW)