The Live Conversation: Hong Kong-Asean Summit 2025
- Summit highlights Asean region’s vast opportunities for businesses ready to innovate and collaborate.
The Hong Kong-Asean Summit 2025, held at The Fullerton Ocean Park Hotel Hong Kong on Tuesday, 9 September, saw more than 300 business leaders, policymakers, and industry experts gather to discuss how the city can expand its role as a super-connector between mainland China and Asean nations. With a focus on economic integration and innovation, the summit provided key insights into the opportunities and challenges that are shaping one of the world’s fastest-growing regions.
Frederick Chin, UOB’s head of group wholesale banking and markets, highlighted Asean’s rapid economic growth and its importance in the global economy — as well as Hong Kong’s role within this growth.
Shared Progress
Following Lee and Chin were Anthony Loke Siew Fook, Malaysian minister of Transport, and Ceferino S Rodolfo, Philippine undersecretary for the Industry Development Group (IDG) of the Department of Trade and Industry, and vice chairman and managing head of the Board of Investment. And Rodolfo took the summit as an opportunity to call for closer cooperation between Hong Kong and Southeast Asia to unlock a new era of shared progress.
One of the standout discussions at the summit was the “Accessing Asean Markets Through Economic Integration” roundtable, which was moderated by Zuraidah Ibrahim, executive managing editor of the South China Morning Post. Joining her were guests Christine Ip, vice chairman of UOB Greater China, and Huynh Thanh Phong, OBE, group CEO of FWD Group, who shared their insights on navigating Asean’s complexities and unlocking its potential.
While Ip stressed the importance of partnerships and local expertise in overcoming cultural and logistical challenges, Huynh shared with the audience FWD Group’s approach for Asean’s future prospects.
Digital Economy
The summit’s second panel discussion, “Capturing the US$1 Trillion Asean Digital Economy Opportunity”, looked at Asean’s digital transformation and its implications for growth. For example, how businesses and investors can tap into the region’s rapidly expanding digital economy by identifying high growth sectors, potential, risks, and challenges.
For example, Norman Chang, chief executive officer of Strategic Sports, a global leader in helmet manufacturing, spoke on supply chain agility, and emphasised speed and adaptability. “Our mission now is to identify a location and have it up and running within three months,” Chang said, a nod to the urgency required in today’s competitive markets that are full of risks.
Having said that, where there are risks there is potential. “Especially with its young population, last year alone, Asean received US$60 billion in investments into AI infrastructure,” said Esther Wong, founder and chief executive officer of 3c AGI Partners, a forward-thinking artificial intelligence venture.
However, she pointed out that there are challenges when it comes to data and talent. “There’s a real lack of data standardisation in Asean. Each government works in silos... And data is the number one foundation of AI,” she explained.
A talent gap isn’t the only relationship between people and AI; there is also the question of coexistence. Dennis Lun, founder of 10Life, an insurance comparison platform, delivered a warning regarding the workforce impact of artificial intelligence. “AI will replace people who don’t know how to use it,” Lun said. “Even within our company, those who resisted new technology had to move on.”
While Asean’s diversity certainly presents challenges, there is no denying that this part of the world continues to offer vast opportunities for businesses ready to innovate and collaborate. Thanks to Southeast Asia’s youthful population, digital transformation, and evolving supply chains, it’s well worth keeping an eye on the region as an exciting focal point for growth.
SCMP’s Hong Kong-Asean Summit 2025 is supported by:
- Presenting Sponsor: UOB
- Diamond Sponsor: Hong Kong-ASEAN Foundation
- Platinum Sponsor: FWD Insurance
- Gold Sponsor: Selangor State Government