Channel Asia's Sizeable Savings For The Region's Growth, Forum Told

KUALA LUMPUR, Nov 25 (Bernama) -- The key to unlock Asia’s potential is to efficiently channel its sizeable savings towards the region’s productive investments, infrastructure development and in a broad range of activities. Greater regional financial integration and cooperation will enhance Asia's growth by 0.5 per cent to one per cent, it was stated at the inaugural Asian Finance Forum in Bali. The forum was jointly hosted by the Asian Institute of Finance (AIF) and the Indonesian Banking Development Institute (LPPI) in recognising the importance of establishing strong collaborations among Asian countries to enhance Asia’s financial growth, AIF said in a statement on Friday. “Understanding the current state of Asia’s financial industry is important to ensure sufficient human capital to support the industry's expansion and to respond proactively," forum co-chairman from AIF, Dr Amat Tapp Manshor, said. The forum themed "Asia's Growth and Innovation in the New Financial Order" gathered experts and thought leaders from Islamic finance, financial inclusions, capital Markets and banking. They deliberated extensively and shared their wisdom on various aspects governing the forum theme. Present was special advisor to Bank Negara (Central Bank) Malaysia Ooi Sang Kuang. LPPI Forum co-chairman, Dr Subarjo Joyosumarto, in his welcoming remarks, said discussions at the forum was timely as the recent Asean Summit in Bali declared that the Asean Economic Community (AEC) would be the goal of regional economic integration by 2020. AEC will establish Asean as a single market and production base, making the 10-member regional grouping more dynamic and competitive, with new mechanism and measures to strengthen initiatives to accelerate regional economic integration. -- BERNAMA Malaysia