The forum brought together 150 officials and businessmen of ASEAN and its partners to discuss ways to strengthen cooperation and the participation of stakeholders and attract support from partners and investment from enterprises.
They agreed that they need at least 110 billion USD a year for infrastructure investment to prepare for future growth. The MPAC plan intends to help investors to expand opportunities from sustainable infrastructure. The delegates proposed a list of projects prioritized for capital mobilization and strategies on sustainable urbanization for ASEAN cities.
Digitization technology is identified as a potential sector in ASEAN which will probably attract 625 billion USD in investment by 2030. But digital innovation requires management mechanisms, sharing of the best practices, and supporting micro, small, and medium sized enterprises to adopt new technology. The delegates proposed establishing an open data system in ASEAN and expanding the technological foundation for SMEs.
ASEAN has cut tariffs to bring benefit consumers in the region. But to enhance connectivity, the delegates stressed measures are needed to ensure transparency and eliminate obstacles to non-tariff trade.
ASEAN is expected to draw 150 million tourists by 2025. MPAC 2025 provides a more comprehensive perspective on tour selection, visa procedure simplification, and quality assurance frameworks in multiple occupations. The delegates proposed ways to develop a travel information portal, share vocational certificates, and encourage student exchanges in ASEAN.
MPAC 2025 is ambitious but practical. ASEAN has worked out strong measures to promote cooperation between stakeholders and create positive changes in the next 10 years. The Master Plan will create education and economic opportunities for ASEAN people and synergies for the region.