Tengku Zafrul said Asean is now the fifth-largest economic bloc globally, with a population of 680 million, of which 300 million are aged 30 and below. This makes it a region with an immense opportunity for growth.

“The power of Asean youths is important. So for the young entrepreneurs here, don’t just look at Malaysia as your market, but look at Asean as a whole,” he said at the opening ceremony of the JCI Inspire Fest 2025 today.

In 2023, Asean’s combined gross domestic product recorded US$3.8 trillion in nominal terms, growing at 4.1% annually.

Growth between 2024 and 2025 for the regional bloc is projected at 4.6% to 4.7% annually, driven by resilient domestic demand and export recovery.

Tengku Zafrul also said the success of any national industry development plan, such as the New Industrial Master Plan 2030, relies on the energy and innovation of local entrepreneurs.

“It relies on young people who are passionate about changes and visionaries willing to take bold steps to transform their ideas into reality.

“Entrepreneurs are important and they are the driving force of our economic growth. Their contributions will determine how far we can go as a nation,” he said.