{
  "id": 9675777,
  "title": "Investment alone not enough for ASEAN firms to capture opportunities: Gan Kim Yong",
  "url": "https://urgent.news/2026/09/25/investment-alone-not-enough-for-asean-firms-to-capture-opportunities",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-25T01:49:04.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/investment-alone-not-enough-for-asean-firms-to-capture-opportunities-gan-kim-yong"
  },
  "original_language": "en",
  "account": "The Deputy Prime Minister of Singapore, Gan Kim Yong, emphasized during the opening keynote at the FutureChina Global Forum that ASEAN firms require more than just investment to capitalize on emerging opportunities. He stressed that intensifying competition, automation, and the rise of digital platforms are diminishing the advantage of lower labor costs, making it essential for businesses to move up the value chain and workers to acquire necessary skills. The Deputy Prime Minister also highlighted the importance of developing a resilient ASEAN, noting that a prosperous region provides Singapore and Chinese businesses with new markets, more resilient supply chains, and stronger partners. Since 2009, China has been ASEAN's largest trading partner, and ASEAN has been China's largest trading partner since 2019. In 2025, trade between China and ASEAN surpassed US$1 trillion for the first time, and in the first seven months of 2026, it reached US$744.4 billion. The ASEAN-China Free Trade Area's recent upgrade presents an opportunity for both China and Singapore to collaborate with ASEAN partners in the digital and green economies, as well as supply chain connectivity. Improved transport links and supporting services can help ASEAN firms reach Chinese customers and provide logistics firms with new opportunities. Strengthening technology partnerships can enable smaller firms to adopt digital tools and improve quality standards, methods, and products. Green projects can also foster local enterprise growth and worker training. Gan stressed that regional integration should not result in economies pursuing identical paths, but rather, businesses must identify competitive niches within value chains, and workers should have clear progression pathways. He recognized that open markets have been a significant driver of Asia's development but are now facing strain due to geopolitical rivalry and concerns over fair distribution of growth benefits and technological change. Gan warned that protectionism could hinder businesses' ability to access new markets, acquire capabilities, and seize opportunities, urging for a more resilient approach to openness by enhancing local capabilities while expanding international connections. To achieve this, he emphasized the importance of giving people and businesses a stake in regional progress and prosperity. Looking ahead, Singapore, which will assume the ASEAN chairmanship in 2027, aims to deepen regional integration and bolster the group's capacity to adapt to change, drawing upon the trust built through decades of mutually beneficial cooperation between Singapore and China.",
  "summary": "Trade between China and ASEAN exceeded US$1 trillion (S$1.28 trillion) for the first time in 2025.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}