Carrying the theme “ASEAN Matters: Epicentrum of Growth,” Indonesia’s chairmanship has prioritized the underlying value of ASEAN centrality that highlights the need for inclusivity in the region. The summit also presented an opportunity for global and regional discourse on several themes, such as digital transformation and sustainable development.

In line with the value of collective collaboration, an essential pillar on which ASEAN was founded, attendees of the event witnessed the significant signing of three memorandums of understanding (MoUs) between the regional bloc and several think tanks and global businesses, with a renewed promise to face upcoming crises together.

"As the world order continues to change rapidly amid increasing geopolitical tensions, the concept of ASEAN Centrality gains even more momentum and relevance, especially because of its deep innovative capacity, which has helped drive dynamic economic growth in the region," said Arsjad Rasjid, chairman of ASEAN-BAC.

In a policy session entitled “ASEAN’s Digital Powerhouse at the Nexus of Connectivity and Transformation,” the organization realized the dream of cross-border payments among member states, a key topic that was also discussed at length last year, when Indonesia was the president of the Group of 20.

An MoU between ASEAN QR Champions and Bank Indonesia on the first day is seen as a step toward ASEAN centrality, another visualization of the unity that has been demonstrated by member states. The project was made possible by the collaboration of all central banks in the region. Considered one of the legacy projects of Indonesia, it was launched successfully in Thailand and Malaysia.

Furthermore, another MoU was also signed between ASEAN-BAC and Moderna during a policy session entitled “Rise to Resilience: Nurturing Health in the ASEAN Community.” Moderna recently cemented its place as one of the biggest brands in the medical field through its production of the coronavirus vaccine.

The new agreement is in line with the Indonesian government’s hope to elevate the country’s medical tourism. Speaking at the ASEAN Investment Forum, which was held in tandem with the summit, Health Minsiter Budi Gunadi Sadikin said that the significant change in the industrial situation after the COVID-19 pandemic was the right moment to invest in the health sector.

“Investment in the health sector, spending in the health sector will be a priority for every human being on earth. So that's why it creates great opportunities for you, so my advice is to invest in health," he said.

The policy session on health also highlighted the need for better access to health services, manufacturing and supply, as well as financing and funding to build better infrastructure in the region.

Before the opening day ended, ASEAN-BAC also signed an MoU with the Economic Research Institute for ASEAN and East Asia (ERIA). This was done during the fourth policy session, “The Future of ASEAN in a Shifting Global Trade Order.

The summit also gave ERIA the opportunity to announce the launch of the Digital Innovation and Sustainable Economy Centre (DISC), a visionary initiative poised to shape the future of ASEAN and East Asia through digital innovation and sustainable economic growth.

“The launch of DISC marks a pivotal juncture in ASEAN's journey toward a digitally empowered future,” stated Tetsuya Watanabe, president of ERIA. “We are committed to fostering collaboration and innovation that will pave the way for a prosperous and sustainable ASEAN.”

Rooted in the mission to foster a more sustainable economy in the region, the DISC project prioritizes digital trade, data governance, as well as innovation and entrepreneurship. It is hoped that the project can be utilized to elevate MSMEs throughout member states.

The two-day event highlighted key themes of the ASEAN Summit, such as digital transformation, sustainable development, health resilience and food security, as well as trade and investment facilitation.

While the first day of ABIS centered on the need for policy actions to stimulate business and investment in the region, the second day spotlighted the governments’ efforts to support private-sector solutions for the most pressing problems. Overall, both public and private had the underlying theme of collaboration and unity to look to the future.

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