Petaling Jaya: Maybank Investment Bank said as Malaysia holds the ASEAN chairmanship in 2025, the regional bloc is poised to maintain its growth trajectory despite challenges posed by global economic uncertainty.
Suhaimi Ilyas, the group’s chief economist, said that leveraging strong regional cooperation and forward-looking economic policies, member countries including Malaysia and Singapore will continue to attract foreign direct investment and promote sustainable growth.
“The recent establishment of the Johor-Singapore Special Economic Zone (JS-SEZ) exemplifies this flexibility. With a focus on fiscal incentives, dedicated funds and cross-border cooperation, the JS-SEZ aims to foster innovation and enhance business opportunities.
“This strategic cooperation underlines ASEAN’s efforts to adapt to changing global dynamics while maximizing regional potential,” he said at the Maybank Investment Bank 2025 Outlook virtual media briefing on Tuesday.
Suhaimi said ASEAN’s economic framework emphasizes diversification and value-added industries, thereby ensuring adaptability to external shocks.
“To sustain growth, key sectors such as renewable energy, digital technology and infrastructure development are being given priority. The JS-SEZ initiative highlights these trends, as it targets industries with high economic impact, including technology, property and logistics.
Suhaimi said advanced education and skills development programs within the region are also strengthening ASEAN’s development momentum.
“By creating a skilled workforce, Member States are addressing labor market demands, thereby strengthening regional competitiveness. The focus on talent development within initiatives like JS-SEZ underlines ASEAN’s long-term commitment to sustainable economic progress,” he said.
According to Suhaimi, ASEAN’s strategic vision is yielding promising results, which has strengthened investor confidence in the region. “Despite global headwinds, the bloc’s ability to innovate, collaborate and leverage its unique strengths positions it as a leading economic superpower in the years to come,” he said.
Suhaimi said ASEAN’s development resilience is further supported by its deep 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 growing consumer markets,” he said.
The economist said ASEAN’s commitment to stability is becoming a key driver of its economic momentum. With increasing investment in green technology, renewable energy and sustainable infrastructure, the region is aligning its development objectives with global environmental goals.
Suhaimi said, “The inclusion of environmentally conscious industries in the JS-SEZ underlines the region’s focus on long-term economic sustainability and ecological balance, ensuring that ASEAN will remain an attractive and forward-looking destination for global investors. “
