ASEAN businesses seek investment opportunities in Africa
Southeast Asian companies are evaluating potential investments in African markets so as to support growth and seek new opportunities amidst China’s economic slowdown, said Chairman of the ASEAN Business Advisory Council (ABAC) Arsjad Rasjid.
Chairman of the ASEAN Business Advisory Council (ABAC) Arsjad Rasjid (Photo: VNA)
Jakarta (VNA) – Southeast Asian companies are evaluatingpotential investments in African markets so as to support growth and seek newopportunities amidst China’s economic slowdown, said Chairman of the ASEANBusiness Advisory Council (ABAC) Arsjad Rasjid.
China’s economic recession definitely impacts the Southeast Asian region, whichhas strong trade ties with the world’s second largest economy, he said.
"What is important to see is that we are now looking at othernontraditional markets," Rasjid told Nikkei Assia, adding, "We'vetalked about Africa."
With apopulation of over 1 billion, Africa is seen as filled with potential futuremarkets by companies from the rest of the world.
In lateAugust, Indonesian President Joko Widodo made his first trip to Africa asleader of Southeast Asia's biggest economy. His tour to Kenya, Tanzania,Mozambique and South Africa marked a turn in Indonesia's economic diplomacy asit searches for new export markets for pharmaceutical products and commoditiessuch as palm oil.
Rasjid, who is also chair of the Indonesian Chamber of Commerce and Industryand president director of Indonesia's Indika Energy, said ASEAN countries arenow assessing where demand exists, adding the bloc should also invest ininfrastructure in Africa to promote efficient trade between the two regions. SomeSoutheast Asian companies already have a presence in the continent.
Among them is Indofood, a unit of Indonesian conglomerate Salim Group. Itsflagship instant noodle brand, Indomie, is widely distributed in countries likeKenya, Tanzania and Uganda. Meanwhile, Thailand's Mega Lifesciences hasinvested in 10 African countries to offer herbal nutrition supplements andmedications, he added./.
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Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
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Chairman of the ASEAN Business Advisory Council (ABAC) Arsjad Rasjid (Photo: VNA) 
