ASEAN courts Africa amid China slowdown: business council chief

Companies examine investment opportunities in 'nontraditional' markets

20230922 Arsjad Rasjid, chairman of the ASEAN Business Advisory Council

ASEAN Business Advisory Council Chairman Arsjad Rasjid: "What is important to see is that we are now looking at other nontraditional markets." (Photo by Bobby Nugroho).

NANA SHIBATA, Nikkei staff writer

JAKARTA -- Southeast Asian companies are assessing potential investments in African markets to support growth and seek new opportunities amid China's slowdown, the head of a regional business lobby told Nikkei Asia.

Speaking during a recent interview, Arsjad Rasjid, chairman of the ASEAN Business Advisory Council, lamented that China's slowdown "definitely" impacts the Southeast Asian region, which has strong trade ties with the world's second-largest economy. But at the same time, he said that "We can look at it positively."

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