MONASH BUSINESS MALAYSIA |
SHAPING |
ASEAN |
|
|
|
2140.03 |
|
|
|
|
FINANCE, TODAY |
|
+ 2.3 %
-0.3 %
|
|
-10 % |
|
+ 7.1 % |
|
-3.9% + 12 %
+ 3.9 %
|
|
|
+ 3.8 %
-8.3% + 7.1 %
+ 11 %
|
1520.04
+ 10 %
|
|
-10%
-11%
-3.9%
|
|
|
+ 5.3 % + 8.9 %
+ 6.0 %
+ 7.1 % + 5.3 %
+ 5.2 %
|
|
|
|
BY NG WEI WEI CEO of UOB Malaysia, BCom‘ 95 |
+ 8.3 %-3.9% |
|
|
-5.3 % |
|
|
|
|
|
-5.2 % |
|
|
|
|
|
|
|
|
As ASEAN advances toward becoming a global economic powerhouse, its financial sector is undergoing dynamic transformation, driven by technology, evolving regulations, and a rising emphasis on sustainability and inclusion. ASEAN is projected to become the fourth-largest economy by 2030, reaching a combined GDP of USD 5 trillion. Its financial sector, currently valued at over USD 276 billion, has shown robust growth, recording a 7 % CAGR over the past decade and nearly USD 70 billion in financial services trade.
Initiatives such as the ASEAN Economic Community Blueprint and the ASEAN Capital Markets Forum are paving the way for deeper regional cooperation and broader access to cross-border financing and investment opportunities.
Continued innovations in digital banking, FinTech, blockchain, green bonds, and sustainability financing are expected to accelerate integration and growth across ASEAN. As regional central banks enhance financial and payment gateways, we can expect more seamless cross-border flows and smoother transactions with local currencies. However, challenges such as harmonising policies, removing trade barriers, and addressing infrastructure gaps remain.
Banks play a vital role in nation-building by supporting long-term economic development through foreign direct investment.
At UOB Malaysia, we support national growth through our dedicated FDI Advisory Desk, which drives development in strategic zones such as the Johor- Singapore Special Economic Zone, Sarawak’ s renewable energy corridor, the northern high-tech hub, and Greater Klang Valley’ s integrated investment zone.
Ng Wei Wei
Building a sustainable and resilient future calls for financial institutions to embed ESG principles at the heart of their strategies, addressing global issues such as climate change. UOB Malaysia has adopted a Net Zero commitment across six sectors and takes a Whole Bank approach to sustainability, guided by the UN SDGs and Malaysia’ s NDC ambitions. We also co-chair the SME Focus Group with Bank Negara Malaysia to help small businesses transition to greener practices.
Equally important is building a future-ready workforce as a cornerstone of sustainable success. This involves fostering an inclusive environment that values diversity and offers equal opportunities for growth. From retail and wholesale banking to industry-specific sustainability initiatives and tools, we cultivate a robust learning environment within our Bank for our employees to upskill and grow.
If we want to build for long-term success, financial institutions must lead with sustainability, innovation, and empathy in leadership. The ASEAN financial ecosystem’ s next leap will depend on deep collaboration among innovation drivers— startups, institutions, regulators, researchers and academia. The time to lead is now. e
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