ASEAN most attractive destination for foreign investors

Indonesian President Joko Widodo delivers a speech at the opening of the ASEAN Business and Investment Summit at the State Palace in Jakarta on  September 1st, 2023). (Photo: antaranews.com)

Jakarta (VNA) - The Association of Southeast Asian Nations (ASEAN) is the most attractive destination for foreign investors, Indonesian President Joko Widodo said at the ASEAN Business and Invetment Summit (ABIS 2023) in Jakarta on September 1. 

In 2022, 17% of the global foreign direct investment (FDI) went to the bloc, according to the President.

The bloc’s economic growth is forecast to be the highest in the world in 2024, reaching 4.5% year-on-year, he said, adding that about 65 % of ASEAN’s population will join the middle class by 2030.

He said all factors will help ASEAN become an “epicentrum growth” with “extraodinary tactical strategies” amidst global uncertainties, while emphasising the need for solid collaboration in ASEAN that prioritises mutual interests, both in relations between countries, between entrepreneurs, and between communities.

The President expressed his hope that the ASEAN Business Advisory Council (ASEAN-BAC) will play a bigger role in coming up with and implementing tactical strategies that can spur this cross-stakeholder collaboration.

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 said.

The ABIS, hosted by the Indonesian Chamber of Commerce and Industry (Kadin), is one of two important sidelines events of the 43rd ASEAN Summit./.