Each year, the Switzerland-based global think tank Horasis holds events to call attention to how businesses and governments can work together to create a more sustainable future for
Each year, the Switzerland-based global think tank Horasis holds events to call attention to how businesses and governments can work together to create a more sustainable future for our planet and our people. These conference events hold significant value in the communities they serve, and their speakers are often renowned for their own sustainability and reinvestment initiatives and activism.
At the Horasis Asia Meeting in 2021 topics relating to the economic impact of the COVID-19 pandemic and factors driving the sustainable growth of Asia in the new normal took center stage. Among the key speakers was event co-chair Vijay Eswaran, a Malaysian entrepreneur, philanthropist and author whose multinational company QI Group has made its own sustainability and equality contributions over the years. His talk was one of the highlights in a series of presentations by the region’s most notable corporate and governmental leaders.
Eswaran addressed over 400 conference attendees during the Horasis Asia Meeting this November. The effects, and need for a plan of action in light of the pandemic, remained the focal point. With the effects of COVID-19 on local and regional economies tied, in part, to fluctuations in the disease’s progression and its impact on communities, even the starkest optimists may be daunted by what the future could hold.
However, Eswaran remained positive, noting that “Asia’s regional hubs are fundamentally important” and how leaders can, and should, continue to prioritize investing in these sectors. “I think we should give more importance to our backyard and Asia needs to develop its own philosophy to deal with the challenges moving forward,” said Eswaran. The talk, titled Shaping the New Asia, was more than well timed, as Asia continues to emerge as an economic power.
As China remains poised for mega trade and growth within the economic scope of both Asia and the world, Eswaran encouraged attendees to reflect on their own countries’ needs and ability to follow in these footsteps on a scale suited to them. During difficult times, investors may be timid regarding entrepreneurship, but Eswaran called for them to consider the importance of continuing to grow economies with novel ideas, businesses, and digital commerce.
Broadly speaking, Asia is home to over half of the world’s total population, putting it in prime position to influence outcomes and innovation in sustainability, commerce, and post-pandemic responses. To expedite progress in these areas, Eswaran advocated for community and collaboration between Asian countries, economies, and corporations. By creating a trade bloc of their own, regional producers have the potential to improve on their investments together while other economies across the world struggle.
Eswaran pointed to China’s own progress and investment projects as an example of how others can follow suit: “I think what China has done with the Belt and Road Initiative (BRI) is a very powerful move in bringing together economies across the third world.” By reinvesting regionally, China has benefited in ways that other Asian countries can also profit from including “investment opportunities, cultivated export markets, and boosted income and domestic consumption.”
While small and medium enterprises (SMEs) may be hurting the most during the pandemic’s challenges in the corporate landscape, Eswaran underscored their criticality for the future of Asian economies. By coming together to support these efforts with investment, infrastructure, and community-focused efforts, he shared that the future can be protected and put in a position to thrive once more. Eswaran elaborated, “We need to focus on the SMEs because the SMEs are the engines of growth, and they need to revive, renew and re-empower themselves.”
This revival and recovery are tied to working together to leverage the tools of a booming digital economy, the strengths of larger Asian markets and countries, and reinvesting time and energy into those who could have the next big product or service to catapult a local economy and give back to the region. These messages correlate with the principles that Horasis and its events stand for: leadership and sustainability for the building of communities and economies. As Eswaran put it, “We have to recognize that Asia is going to be leading or at least taking up half of world GDP by 2040 and this is a critically important development.” Recognition is just the first step as Eswaran and his colleagues encouraged attendees to explore how to bring this critical development to fruition and help fuel Asia’s continued growth and positioning as a powerhouse economy.
