Dear members,
Greetings from the Council! This has been a particularly special month for us: in addition to our successful business missions and exciting programming, we were delighted to host our 40th Anniversary Gala in Singapore on August 19.
The event, our first gala in the region since 2017, featured remarks from Deputy Prime Minister of Singapore Heng Swee Keat, U.S. Ambassador to ASEAN Yohannes Abraham, Ambassador-at-large Chan Heng Chee, and a fireside chat with former Minister of Finance of Indonesia Dr. Chatib Basri. The Council also received recorded messages from ASEAN Secretary General Dr. Kao Kim Hourn and Minister for Foreign Affairs of Indonesia Retno Marsudi. We were thrilled that over 260 guests could join us at this special event.
The gala was generously supported by Chubb, ExxonMobil, Mastercard, Warburg Pincus, bp, Marriott International, Visa, and Chevron, in addition to several of the Council’s member companies who joined the event as table sponsors. We’re grateful for additional support from Brown Forman as our Beverage Partner for the VIP Reception and United Overseas Bank as our ASEAN Bank Partner. The VIP reception ahead of the gala was co-hosted with Singapore Economic Development Board, represented by Managing Director Jacqueline Poh. We want to thank everyone who supported this landmark event for the Council—it was a night to remember.
The following day, eighteen Directors of the Council’s Board gathered virtually and in person in Citi’s board room in Singapore. Chairman of the Council and President and incoming CEO of Warburg Pincus Jeffrey Perlman led the meeting. Our primary focus was the 2025-2027 Council Strategy and risk management. The Board elected Michael Kiely (UPS) as the new Secretary and Gregory Walters (SC Johnson) as the new Treasurer. The Board also elected six new Directors: Penny Burtt, Boeing; Ernie Bower, BGA; Jean-Philippe Monod, Expedia; Dr. Vivek Lall, General Atomics; Sapna Chadha, Google; and Serene Gay, Visa, bringing the total number of Directors to 33. The Board bid farewell to eight departing Directors and thanked them for their support and stewardship of the Council: Claudia Lorenzo, Coca-Cola; Greg Schulze, Expedia; Michaela Browning, Google; Kimsuka Narsimhan, Kimberly Clark; Monica Bauer, PepsiCo; J.B. Simko, PMI; Penny Burtt, Stripe; and Tareq Muhmood, Visa. Dr. Jeffrey Jaensubhakij, Group Chief Investment Officer at GIC, was our meeting’s exceptional guest speaker, sharing valuable insights on de-globalization, China’s regional influence, and ASEAN trade relations.
August has also been a busy month for missions and high-level programming. For the first time in six years, the Council brought a delegation of eight leading U.S. companies to Brunei Darussalam. The visit involved meetings with key members of His Majesty Sultan Hassanal Bolkiah’s cabinet and marked the 40th anniversary of U.S.-Brunei diplomatic relations, Brunei’s independence, and the founding of the Council. During the mission, the delegation met with many high-level officials, including the Minister of Defense, Minister of Foreign Affairs, Minister of Transport and Infocommunications, and Minister of Tourism. U.S. Ambassador to Brunei Caryn McClelland and ASEAN Secretary General Dr. Kao Kim Hourn also participated in parts of the mission.
In celebration of 75 years of diplomatic relations between the United States and Indonesia, which coincides with our 40th anniversary, the Council, in collaboration with the Embassy of Indonesia in Washington, D.C., Bank Indonesia New York, and the Indonesia Investment Promotion Center (IIPC) New York, hosted a business forum titled “Elevating Indonesia-U.S. Economic Relations under the Comprehensive Strategic Partnership.” The forum—which featured keynote remarks from Indonesian Minister of Foreign Affairs Retno Marsudi and U.S. Under Secretary of Commerce for International Trade Marisa Lago—focused on bilateral economic ties in Indonesia’s post-Jokowi era. The event included business panel discussions on sustainable economic growth and new investment opportunities in the country.
On August 27 and 28, the Council held its Digital Economy Mission to Indonesia in Jakarta. The delegation engaged with key officials from the Ministry of Communications and Informatics, Ministry of Industry, Coordinating Ministry of Economic Affairs, Bank Indonesia, Financial Services Authority, and the Embassy of the United States. Discussions focused on data governance, cybersecurity, artificial intelligence, financial inclusion, and the ongoing ASEAN negotiations to develop the regional Digital Economic Framework Agreement (DEFA). Building on the success of the 2023 Singapore Digital Economy Industry Dialogue Series and the 2023 Digital Economy Mission to Vietnam, this marked the largest Digital Economy Mission organized by the Council in recent history.
Widening our focus, this month has been marked by significant political developments in the region. On August 18, Paetongtarn "Ung Ing" Shinawatra was confirmed as Thailand’s 31st Prime Minister, following the dismissal of her predecessor from the Pheu Thai party, Srettha Thavisin, by the Constitutional Court. At 37 years old, Prime Minister Paetongtarn is Thailand’s youngest-ever prime minister, the country’s second female prime minister, and the third member of the Shinawatra family to hold this position. Prime Minister Paetongtarn has indicated that her government will continue to advance economic policies, with detailed policy statements to be released in September. The Council looks forward to working with her administration and supporting Thailand’s continued growth.
Meanwhile, following the passing of Vietnamese Communist Party (CPV) General Secretary Nguyen Phu Trong on July 19, President To Lam was confirmed on August 3 as the new CPV General Secretary, the country’s most powerful political role. This transition marks a return to stability at the top levels of government. While overall policy is expected to remain unchanged, this shift is anticipated to lead to accelerated reforms and market liberalization in Vietnam. Separately, three new Deputy Prime Ministers were appointed on August 26: Chief Justice of the Supreme People's Court Nguyen Hoa Binh, Minister of Finance Ho Duc Phoc, and Minister of Foreign Affairs Bui Thanh Son. The National Assembly is scheduled to vote on a new president during its 8th session in October, following President and CPV General Secretary To Lam’s return from the United Nations General Assembly (UNGA) in New York.
Thank you, as always, for your steadfast support and continued engagement in our programming. The Council will continue to honor the collaborative spirit of ASEAN Day, which fell on August 8, through our exciting events and tireless advocacy. We look forward to working closely with you in the months ahead.
Best regards,
Ted
Month in Review
On August 6, in Johor Bahru, the Council delivered a presentation titled “Supporting ASEAN Sustainable Agriculture” to the Special Senior Officials’ Meeting of the 45th Meeting of the ASEAN Ministers on Agriculture and Forestry (SSOM-45th AMAF). The SSOM-45th AMAF and related meetings focused on addressing such key issues as food security, climate change, and environmental sustainability in ASEAN. The Council’s presentation touched on sustainable agriculture, soil and waste management, reduction of crop burning, and digitalization in the agriculture sector. This presentation served as a precursor to the 46th AMAF, which will be held by Myanmar from October 22 to 25. The Council is seeking participation in this meeting and plans to organize a business mission for members; more details will be shared when available.
On August 7, the Council’s ASEAN Committee held an informal dialogue with Marweena Manan, Malaysia’s Lead Negotiator for the ASEAN Digital Economy Framework Agreement (DEFA). Manan shared Malaysia’s perspective and priorities for DEFA, as well as updates on current progress and challenges in the negotiations. The Negotiating Committee aims to finalize the text of the agreement by 2025 under Malaysia’s ASEAN Chairmanship.
On August 12-13, member companies had the privilege of meeting with Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong and Minister for Foreign Affairs Dr. Vivian Balakrishnan as part of the 2024 Singapore Business Mission. The dialogue with Deputy Prime Minister Gan focused on enhancing Singapore’s global connectivity through digitalization, supply chain resilience, and sustainability, while the discussions with Minister Dr. Balakrishnan highlighted Singapore as a secure investment destination amidst global geopolitical tensions. These meetings reinforced the strong economic ties between the United States and Singapore.
On August 13, the Council co-hosted the second Business Opportunities Seminar with the U.S. Executive Director's Office at the Asian Development Bank (ADB). The virtual event featured a procurement panel of experts from ADB and the World Bank, followed by presentations on private sector project financing options. The seminar gathered 50 representatives from approximately 30 companies, with discussions covering options to participate in ADB-funded projects.
On August 14, the Council hosted a closed-door dialogue with the Singapore Infocomm Media Development Authority (IMDA) on the upcoming Digital Infrastructure Act (DIA). The session, attended by stakeholders in the cloud and data center industries, began with a presentation by IMDA on the policy approach to the DIA. Following this, Senior Vice President and Regional Managing Director Ambassador Brian McFeeters (ret.) moderated a Q&A session in which members provided IMDA with feedback on the drafting of certain obligations. (The DIA is currently undergoing closed consultations with stakeholders identified by IMDA. We understand that a public consultation will be convened in due course.)
On August 15, the Council hosted a roundtable with a delegation from the Vietnam Committee for Management of State Capital at Enterprises (CMSC) in Washington, D.C. The delegation was led by CMSC Vice Chairman Do Huu Huy and featured representatives from Vietnam’s largest state-owned enterprises (SOEs), including Petrovietnam, Bao Minh Insurance Corporation, Vietnam Maritime Corporation, and Vietnam Rubber Group. During the meeting, members had the opportunity to explore opportunities for collaboration with CMSC and representative companies in the energy, financial, infrastructure, chemical, and agriculture sectors.
On August 21, the Council’s Health and Life Sciences (HLS) Committee held a roundtable meeting in Singapore to review trends in ASEAN’s HLS landscape, evaluate current activities, and plan for the 2025 HLS Committee strategy. Dr. Leslie Mancuso, vice chair of the Council’s Board of Trustees and co-chair of the HLS Committee, moderated the discussion. The Council’s President and CEO Ambassador Ted Osius (ret.) and Senior Vice President and Regional Managing Director Ambassador Brian McFeeters (ret.) attended the meeting, which was generously hosted at member company Medtronic’s Customer eXperience Center (MCXC). The two-hour hybrid meeting began with a presentation by KPMG on HLS challenges and opportunities across the region. This was followed by a robust discussion on committee planning, including next steps for the sustainable healthcare financing program and a new project on preventive healthcare, for which sponsors are currently being sought.
On August 26, the Council welcomed a delegation from Vietnam’s Minister of Agriculture and Rural Development (MARD), led by Vice Minister Hoang Trung. The delegation included Directors General and Deputy Directors General from MARD’s Departments of Plant Protection, International Cooperation, Finance, Personnel and Organization, and Science, Technology and Environment, as well as several Vietnamese animal feed importers. Member companies had the opportunity to share their insights and priorities with the delegation on sustainable agriculture, plant science, and animal health development. The delegation’s visit comes one month after the Council’s Food and Agriculture Industry Mission to Vietnam on July 30-31 and provided a valuable follow-up opportunity for member representatives based in Washington, D.C. At the conclusion of the meeting, an MOU signing ceremony was held to celebrate Vietnam’s intent to import 500,000 metric tons of corn from the United States.
On August 29, on the sidelines of the Digital Economy Mission to Indonesia, the Council organized a cybersecurity workshop in Jakarta in partnership with the U.S. Trade & Development Agency (USTDA). The workshop featured speakers from the National Cyber and Crypto Agency (BSSN), the National ICT Council (WANTIKNAS), the Indonesian Chamber of Commerce and Industry (KADIN), and Cisco (Chair of the Council’s ICT Committee), with key policy stakeholders also in attendance. This engagement provided a valuable opportunity for members to engage with key cybersecurity officials and practitioners, deepening mutual understanding of Indonesia’s cybersecurity policy landscape, industry best practices, and ways to bolster Indonesia’s cyber resiliency.
Delegations and Envoys
From July 25 to August 3, Secretary of State Antony J. Blinken traveled to Laos, Vietnam, Japan, the Philippines, Singapore, and Mongolia, marking his 18th trip to the Indo-Pacific region since becoming Secretary. Secretary Blinken’s trip reaffirmed the importance of the work the United States does with allies and partners in the Indo-Pacific to advance security and prosperity and facilitate a shared vision for a free and open region. The Secretary’s trip further underscored the United States’ enduring commitment to deepening and expanding ties to unprecedented levels and creating mutually reinforcing relationships to tackle today’s greatest challenges.
From July 25 to August 2, Special Advisor on International Disability Rights Sara Minkara traveled to South Korea, Brunei, Malaysia, and Cambodia, where she promoted the continued integration of disability policy in ASEAN and APEC.
On August 5, Deputy Secretary of State Kurt M. Campbell met with President of Ho Chi Minh Academy Dr. Nguyen Xuan Thang on Friday in Washington, D.C., following Secretary Blinken’s recent trip to Hanoi. Deputy Secretary Campbell reiterated U.S. condolences for the loss of General Secretary Nguyen Phu Trong and stated the United States will continue to work closely with Vietnam’s leadership, including President To Lam as he assumes the office of General Secretary. The Deputy Secretary underscored the United States’ support for a strong, independent, prosperous, and resilient Vietnam and highlighted our shared vision for a free and open Indo-Pacific region.
From August 19 to 25, U.S. Senior Official for Asia-Pacific Economic Cooperation (APEC) Ambassador Matt Murray traveled to Lima, Peru, for the Third Senior Officials’ Meeting and Related Meetings (SOM3) of Peru’s APEC 2024 host year.
From August 25 to 31, Under Secretary of State for Civilian Security, Democracy, and Human Rights Uzra Zeya traveled to Kuala Lumpur, Malaysia, and Hanoi, Vietnam to engage partners on human rights, humanitarian cooperation, and human-centered civilian security.
From August 26 to 27, Under Secretary of State for Arms Control and International Security Ambassador Bonnie D. Jenkins traveled to Hanoi, Vietnam to lead the U.S. delegation for the annual U.S.-Vietnam Political, Security, and Defense Dialogue and discuss progress in the bilateral relationship as we prepare to celebrate the first year of the U.S.-Vietnam Comprehensive Strategic Partnership. In addition to her meetings with Vietnamese government officials, she also participated in roundtable discussions with non-government organizations implementing the removal of unexploded ordnance and discussed the role of women in international security with students.
Upcoming Events
Please find the latest version of the Council's 2024 Events Calendar here.
From September 20 to 22, the Council will lead a business mission to the 56th ASEAN Economic Ministers Meeting in Vientiane, Laos. Please contact Marcella Suwandhi (msuwandhi@usasean.org) for more information.
During the week of September 23, on the sidelines of the United Nations General Assembly (UNGA), the Council is seeking to schedule engagement opportunities for members with ASEAN heads of delegations in New York. The Council is tracking a number of potential activities, including a tentatively scheduled working luncheon with Vietnamese President and General Secretary To Lam on September 23, in addition to an engagement with Thailand’s delegation on September 25 or 26. Members will receive more information soon and can contact Hai Pham (hpham@usasean.org) for more information.
From September 23 to 24 (TBC), the Council will lead a defense mission to the Philippines immediately prior to the Asia Defense and Security (ADAS) exhibition. Please contact Chuck Casey (ccasey@usasean.org) for more information.
From September 24 to 27 (TBC), the Council will lead a mission to the ASEAN Energy Ministers Meetings in Vientiane, Laos, which will provide members with frontline engagements. Please contact Logan Carnicelli (lcarnicelli@usasean.org) for more information.
In September, as part of the DEFA Workshop Series Program, the Council will participate in an exclusive roundtable on the sidelines of the DEFA negotiating round in Bali, Indonesia. The consultation will focus on digital payments, digital talent, and digital identification. Please contact Marcella Suwandhi (msuwandhi@usasean.org) for the readout.
On October 8, the Council will co-host the Asian Development Bank’s Partners’ Night ahead of the 12th Business Opportunities Fair (BOF) at ADB’s headquarters in Manila, Philippines. The event will be co-hosted by the U.S. Executive Director to the ADB, Ambassador Chantale Wong, and will be attended by other prominent ADB representatives. This reception will kick off the BOF and is expected to attract around 100 attendees, including representatives from the U.S. Executive Director's Office at ADB, ADB member country offices, other multilateral financial institutions, foreign consulates, the Philippine Government, and companies participating in the BOF. Sponsorship opportunities are currently available. Please contact Catherine Salazar (csalazar@usasean.org) for additional information.
The 18th ASEAN Coordinating Committee for MSMEs (ACCMSME) Meeting will be held in Bali, Indonesia from October 21 to 25 (TBC). The Council will participate in the regular consultation session with ACCMSME delegations to present an overview of the ASEAN SME Academy and paths forward for the SME Program. The upcoming meeting will be organized by Indonesia’s Ministry of Cooperatives and Small and Medium Enterprises (KemenKopUKM).
On the sidelines of the 18th ACCMSME Meeting, the Council will hold an SME Workshop. The program will begin with a policy roundtable involving ASEAN MSME agencies, followed by an SME workshop with the theme of “Transforming ASEAN MSMEs through Digital Trade and Sustainable Practices.” The workshop will aim to equip MSMEs with the digital tools and skills to expand their export capabilities while ensuring sustainability. The Council will partner with Indonesia’s Ministry of Cooperatives and Small and Medium Enterprises (KemenKopUKM) and member companies for the program. The Council will also collaborate with relevant government agencies, local associations, and ASEAN stakeholders to ensure the program’s relevance. Further details, including the concept note and sponsorship opportunities, will be shared soon. Please contact Mario Masaya (mmasaya@usasean.org) and Bella Afifa (safifa@usasean.org) for any inquiries.
The Council is planning to co-host events on the sidelines of the Singapore International Cyber Week (SICW). More information will be shared soon.
Membership
The Council has transitioned to Info Hub, a new online member platform. With Info Hub, you can register for events, manage email subscriptions, make payments, and add contacts with the US-ASEAN Business Council. This month, the Council circulated a tutorial series on using the platform. If you have any questions or concerns, please contact membership@usasean.org.
The Council has seen unprecedented growth in its membership this year, a result of its continued robust programming and exciting developments in ASEAN, including:
The newly signed U.S.-Singapore 123 Agreement for nuclear energy cooperation,
Progress toward an intensified Comprehensive Strategic Partnership between the United States and ASEAN through deepened cross-industry ties, and
Deepened regional investments in such sectors as quantum computing and carbon capture technology.
The Council is delighted to welcome the following new members who have joined in 2024:
AES
American Society of Mechanical Engineers
Brown-Forman
Brunswick Group
Cloudflare
DKSH
Delphos International
Excel Services
FTS International Express
GE Vernova
General Atomics
Global Counsel
I Squared Capital
Legacy EV
Manulife
Nebula Energy
Obagi
Pacific Pension & Investment Institute
Real Time Robotics
S&C Electric
Solventum
Squire Patton Boggs
Steadfast Entities LLC
Tools for Humanity
UltraPass
Comings and Goings
A warm welcome to Ms. Rahma Alifa, who has joined the Indonesia team as a manager on the Council’s growing Policy Advocacy program. Rahma was previously a senior analyst at BowerGroupAsia and a research assistant at CSIS Indonesia. She graduated from Sciences Po Paris with a BA in Social Sciences with a focus on economics and attended the Warwick Business School for one year as part of the Erasmus+ program.
The Council also welcomes a new executive assistant in its Thailand office, Ms. Arkkarapa Pornchokborvorn. She will also support the work of the Food and Agriculture team. Arkkarapa graduated from Mahidol University College with a BA in International Relations and Global Affairs. She has previously worked with Thailand’s Ministry of Trade on FTA negotiations.
Council in the Press
US has yet to recognize Vietnam as market economy - VNExpress
Việt Nam regrets that US not yet recognising its market economy - Viet Nam News
Vietnam regrets US decision not to recognise its market economy status - VietnamPlus
Vietnam regrets US denial of its market economy status - Tuoi Tre News
United States yet to recognize Vietnam’s market economy status - Voice of Vietnam
US decision on Vietnam's market economy status unfortunate: ministry - The Investor
Vietnam well-positioned for US groups - Vietnam Investment Review
ASEAN Sec-Gen To Lead Delegation To Civil Service Meeting In Brunei - Bernama
ASEAN secretary general to visit Brunei for Heads of Civil Service meeting - The Print
DPM Many leads delegation to ASEAN Civil Service meeting in Brunei - Khmer Times
Secretary-General of ASEAN meets with President of the US-ASEAN Business Council - ASEAN
Business council instrumental in ASEAN-US business ties - Borneo Bulletin
Vietnam seeks US-recognized market economy status - VietNamNet
Hyundai Motor revving up Indonesia’s EV potential - Asia Times
Vietnam: To Be or Not to Be a Market - American Action Forum
Weekly Money FM Podcasts: The US Elections and Asia’s Future - Straits Times
Questions abound about what a Harris win means for US foreign policy in Asia - CNA
