The Association of Southeast Asian Nations (ASEAN) unveiled its Regional Investment Promotion Action Plan 2025-2030 today at the ASEAN Investment Forum 2024 in Vientiane, Lao PDR. Developed in collaboration with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the plan aims to attract foreign direct investment (FDI) focused on sustainable development sectors to the region by promoting ASEAN as a unified investment destination.
The Action Plan focuses on sectors crucial for ASEAN's green transition and post-pandemic recovery. It aims to channel investments that accelerate sustainable development and align with economic recovery strategies across the region. This initiative comes at a critical time, as ASEAN continues to be a hotspot for global investment, attracting a record USD 226 billion in FDI in 2023 despite global economic uncertainties.
Endorsed by ASEAN Economic Ministers, the Action Plan represents a paradigm shift in regional investment promotion. For the first time, ASEAN will present itself as a unified investment destination across key sector value chains, capitalizing on investors' growing interest in regional ecosystems rather than individual national markets.
The strategy outlined in the Action Plan includes:
- A targeted approach focusing on high-potential sectors aligned with ASEAN's sustainable development priorities
- Coordinated regional promotion presenting ASEAN as an integrated investment destination
- Strategic investor engagement through industry events, tailored outreach, and specialized marketing
- Adaptive implementation allowing for refinement based on evolving regional priorities and global trends
This approach aims to leverage ASEAN's collective strengths while complementing individual country efforts and strengths. By emphasizing cross-border collaboration, the plan seeks to enhance the region's competitiveness in global and regional value chains, potentially opening new avenues for inclusive growth and shared prosperity.
Armida Salsiah Alisjahbana, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP, highlighted the plan's significance: "This Action Plan sets a clear framework for attracting investments aligned with the UN Sustainable Development Goals. It provides a roadmap for creating high-quality jobs, fostering innovation, and building more resilient economies. The plan's strength lies in its actionable nature, tailored to each member State's unique capabilities and needs."
As ASEAN positions itself to navigate the complexities of the global economic landscape, this coordinated approach to investment promotion marks a significant step towards realizing the region's full economic potential. The Action Plan not only aims to attract increased FDI but also to ensure that these investments contribute meaningfully to sustainable development across Southeast Asia.
The ASEAN Investment Forum 2024 was co-organized by the Ministry of Planning and Investment of Lao PDR, the ASEAN Secretariat, the ASEAN Business and Advisory Council, and ESCAP was held under the theme "Investments for Enhancing Connectivity and Resilience." It brought together over 300 high-level participants from ASEAN Member States, international organizations, and the private sector. Key themes discussed included:
- Concrete, investible project opportunities aligned with SDGs across ASEAN
- Digital transformation and its role in attracting next-generation investments
- Emerging opportunities in the green economy, particularly in renewable energy and sustainable agriculture
- Cross-border collaboration to strengthen ASEAN's position in global value chains
- The growing importance of impact investing and innovative approaches to mobilizing capital for sustainable development.
The ASEAN Investment Forum 2024 underscored the region's potential to lead in sustainable and inclusive investment. Participants explored innovative approaches to channeling FDI into priority sectors, with several member States presenting concrete investment-ready projects. Looking ahead, Malaysia will host the ASEAN Investment Forum 2025, building on the momentum generated in Lao PDR. ESCAP will continue to support ASEAN in the implementation of the Regional Investment Promotion Action Plan, focusing on capacity building and technical assistance to maximize its impact across the region.
The 2024 iteration of the Forum received support from Crowe Growth Consulting Sdn Bhd, the Government of China, ASEAN-Japan Centre, the Government of Australia, Everworks, Gru, Titimas, IDConnect, Crea X and Bayer.
