Asean Business Advisory Council chairman Nazir Razak has urged Asean to accelerate its efforts to strengthen economic unity amid growing regional and global uncertainty.
Speaking ahead of the 2025 Asean Business and Investment Summit, Nazir warned that the region’s openness to trade and investment – long seen as a strength – also made it vulnerable.
“Asean is very exposed. We are open economies, dependent on trade, capital flows and foreign direct investment (FDI). Without FDI, we cannot meet our development goals,” he said.
“For example, Asean’s energy needs will double by 2040. Where is the money going to come from?”
Nazir also cited the impact of US tariffs which had slowed investment, and ongoing security concerns in the South China Sea and between Asean members.
He warned that a more inward-looking US could…