JAKARTA, 8 March 2022 – The ASEAN Secretariat, with the support of the ASEAN – Australia Development Cooperation Program Phase II and Ipsos Strategy 3, conducted ASEAN Business Sentiment Study 2020/2021 to gauge the ongoing sentiment of the ASEAN Indigenous Enterprises (IEs) towards the implementation of the ASEAN Economic Community (AEC) Blueprint 2025.

The study involved 1,250 indigenous enterprises operating in financial, distribution and tourism sectors across all ASEAN Member States. It delved deeper into the sentiment on trade in services liberalisation, focusing on these three key sectors.

Figure 1. Perception on the ASEAN Business Environment

The survey, as shown in figure 1, indicated that 69% of ASEAN IEs perceived that the general investment and business environment in the region has improved in the 2015-2019. Furthermore, two-thirds of the surveyed IEs perceived that the ASEAN initiatives contributed to the improvements in the regional business environments.

The majority of the surveyed IEs is aware of the AEC, yet many are still unaware of the initiatives under it. This suggested that there is a need for a more systematic and comprehensive dissemination of information about initiatives under the AEC so that IEs could better take advantage of the prevailing investment and trade facilitation in ASEAN.

Meanwhile, the qualitative data showed that the IEs in the financial, tourism and distribution services had positive sentiments towards the AEC and the initiatives as well as programmes under it. They look forward to further implementation of the AEC, particularly on programmes and initiatives that could reduce regulatory constraints and further harmonisation of standards in the region.

Read the full report at this link.