MINISTER of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Aziz, opened the ASEAN Women Economic Summit (AWES) 2025 with a call to action: place women at the centre of Southeast Asia’s economic future or risk falling behind.
Delivering the keynote address at the Shangri-La Hotel, Zafrul described the summit as a landmark initiative under Malaysia’s ASEAN Chairmanship and urged both policymakers and businesses to transform rhetoric into real reform.
“In Malaysia and across ASEAN, the voices of women – in our halls of government, our boardrooms, educational institutions, communities and homes – need to be heard,” he said.
Citing stark gender disparities across the region, he noted that although women make up nearly half the population of ASEAN, their participation in the formal economy remains disproportionately low. “Women's labour force participation in ASEAN averages at 48%.
In Malaysia, it is around 56.2%. Yet only 27% of senior management positions in the region are held by women, and female entrepreneurs still face 30% higher barriers to accessing credit,” Zafrul noted.
He warned that the fallout from climate change, tech disruption, and geopolitical conflict risk exacerbating these inequalities. Quoting from the ASEAN Gender Outlook 2024, he highlighted that an estimated 160 million women and girls could be pushed into poverty if climate change remains unchecked.
“These gaps aren't just unfair – they're economically irrational,” he said. “Research shows that advancing women's equality could add USD12 trillion to global GDP by 2025.”
Zafrul outlined Malaysia’s own gender-forward economic efforts under the MADANI framework, which prioritises inclusivity and sustainability. Among them are a RM200-million fund for women entrepreneurs in high-growth sectors, the Women Exporters Development Programme, and gender-responsive provisions in Malaysia’s new trade agreements.
“Women comprise 69% of MITI’s top management, including our Chief Negotiator on US Tariffs and one of our Deputy Secretary-Generals,” he added.
He also reaffirmed Malaysia’s commitment to establishing ASEAN’s first Women’s Economic Empowerment Centre in Kuala Lumpur, as well as national goals to increase female workforce participation to 63% and ensure 30% of corporate board roles are held by women by 2030.
At the regional level, Zafrul said Malaysia’s ASEAN Chairmanship theme of “Inclusivity and Sustainability” is a pledge to ensure opportunities reach all segments of society. He described ASEAN’s diversity – from Thailand’s tourism economy to Singapore’s financial sector – as a strength that can be unlocked by fully engaging women in all sectors.
“From the ASEAN Women Entrepreneurs Network to the ASEAN Digital Economy Framework Agreement, the platforms already exist. Now, the goal is implementation,” he said.
He challenged AWES delegates to address five core areas for collective action: harmonising gender-inclusive policies, improving access to finance, accelerating digital upskilling, supporting women in trade and industry, and building a robust leadership pipeline.
“What would it take to digitally upskill one million women across ASEAN by 2027?” he asked. “If we were to create a USD1 billion fund for women-led businesses in ASEAN, how shall it be governed?”
Zafrul concluded on a personal note, reflecting on his hopes for his two daughters and quoting Malala Yousafzai: “We cannot all succeed when half of us are held back.”
“To me, true leadership recognises that empowering women does not diminish men. In fact, it elevates humanity,” he said. “Let this not be just a summit to remember – but a turning point for women’s economic empowerment in ASEAN.” - May 24, 2025
