PETALING JAYA: As Malaysia holds the chairmanship of Asean in 2025, the regional bloc is poised to maintain its growth trajectory despite challenges posed by global economic uncertainty, said Maybank Investment Bank.
Group chief economist Suhaimi Ilias said leveraging robust regional collaboration and forward-looking economic policies, member states including Malaysia and Singapore, continue to attract foreign direct investment and drive sustainable development.
“The recent establishment of the Johor-Singapore Special Economic Zone (JS-SEZ) exemplifies this resilience. With a focus on fiscal incentives, dedicated funds, and cross-border cooperation, the JS-SEZ aims to foster innovation and enhance trade opportunities.
“This strategic collaboration underpins Asean’s efforts to adapt to shifting global dynamics while maximising regional potential,” he said at the Maybank Investment Bank 2025 Outlook virtual media briefing on Tuesday.
Suhaimi noted that Asean’s economic frameworks emphasise diversification and value-added industries, ensuring adaptability to external shocks.
“Key sectors like renewable energy, digital technology, and infrastructure development are being prioritised to sustain growth. The JS-SEZ initiative highlights these trends, as it targets industries with high economic impact, including technology, property, and logistics.”
Suhaimi said enhanced education and skills development programmes within the region are also reinforcing Asean’s growth momentum.
“By cultivating a skilled workforce, member states are addressing labour market demands, thereby strengthening regional competitiveness. The focus on talent development within initiatives like the JS-SEZ underscores Asean’s long-term commitment to sustainable economic progress,” he added.
The strategic vision of Asean continues to yield promising results, with the region maintaining strong investor confidence, according to Suhaimi. “Despite global headwinds, the bloc’s ability to innovate, collaborate, and leverage its unique strengths positions it as a leading economic powerhouse in the years ahead,” he added.
Suhaimi said Asean’s growth resilience is further supported by its deepening integration into global value chains.
“The region’s strategic location and comprehensive trade agreements, such as the Regional Comprehensive Economic Partnership, have strengthened its position as a hub for manufacturing, trade, and investment. Initiatives like the Johor-Singapore SEZ not only enhance regional connectivity but also provide an effective platform for international businesses to access Asean’s burgeoning consumer markets,” he added.
The economist said Asean’s commitment to sustainability is becoming a key driver of its economic momentum. With increasing investments in green technology, renewable energy, and sustainable infrastructure, the region is aligning its growth objectives with global environmental goals.
“The JS-SEZ’s inclusion of environmentally conscious industries underscores the region’s focus on long-term economic stability and ecological balance, ensuring Asean will remain an attractive and forward-thinking destination for global investors,” Suhaimi added.
