EMPOWERING ASEAN MSMES FOR A PROSPEROUS FUTURE

2026 ASEAN Business Advisory Council (ASEAN-BAC) and ASEAN-BAC Philippines chair Jose Ma. “Joey” Concepcion III emphasized the importance of empowering MSMEs as a pathway to achieving inclusive growth in the region. Concepcion made this statement at the inaugural ASEAN Inclusive Growth Summit in Kuala Lumpur, Malaysia last October 24, 2025, held prior to the ASEAN Business and Investment Summit (ABIS). “Payback is giving back to the people,” said Concepcion, as he pointed out the significance of mentoring MSMEs as a pathway to achieving inclusive prosperity.

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Organized by the Mastercard Center for Inclusive Growth in partnership with the ASEAN-BAC, the summit convened influential leaders dedicated to inclusive growth in the region. It brought together key stakeholders to discuss the critical role of Micro, Small, and Medium Enterprises (MSMEs) in fostering economic development and reducing poverty. With a focus on collaborative efforts and innovative frameworks, the summit highlighted the importance of empowering MSMEs to achieve inclusive growth.

Concepcion joined other global business leaders, philanthropists, multilateral institutions and government ministers, who were there to discuss key pillars for progress, including digital transformation and collaborative Al governance. His Royal Highness Sultan Nazrin Shah, the Sultan of Perak and Deputy King of Malaysia, gave the Welcome Address, where he emphasized that for growth to be genuinely inclusive, it must be equitable and sustainable.