Business Leaders Urge Deeper ASEAN Integration to Unlock Regional Potential

At the Hong Kong-ASEAN Summit 2025, business leaders called for stronger economic integration within the ASEAN bloc to harness its vast potential as a young, fast-growing region. With over 670 million people and a median age of 30, ASEAN is seen as a key driver of future global growth, but fragmented regulations and policies continue to pose challenges.

Wang Shuguang, president of China International Capital Corporation, highlighted ASEAN as the ideal launchpad for Chinese companies going global, citing the region’s promising economic growth, youthful population, and expanding retail market.

Esther Wong, CEO of AI venture capital firm 3C AGI Partners, echoed the region's potential but raised concerns over the lack of data standardisation, which hinders AI and digital innovation across ASEAN’s 10 member nations. “Each government works in silos,” Wong said, adding that standardised data regulations are crucial for AI development.

Speakers acknowledged the ASEAN 2045 plan as a sign of political commitment to regional integration, especially in facilitating seamless travel and business movement. Michael Tene, former deputy secretary general of ASEAN, said integration would likely accelerate as challenges arise, urging a phased approach to minimise disruptions.

Christine Ip of UOB Greater China emphasized the importance of building local partnerships, saying, “Let’s put [them on] some dates before they get married,” to illustrate the need for relationship-building in cross-border ventures.

Investors also stressed the need for skilled labor and infrastructure. Norman Cheng of Strategic Sports noted that investment decisions depend on more than just labor supply — capability matters too. Edmund Lee of Gold Peak Technology Group called for collaboration across talent, capital, and innovation to fully unlock ASEAN’s growth potential.

With growing digital infrastructure and rising consumer demand, ASEAN remains a key target for future investment and expansion.