‘Lazy investments’ among weak links in Australia-Asean business ties, industry insiders say

Many of Australia’s biggest investors lack exposure and presence in the region, say experts at the Australia-Asean Business Forum in Sydney

Southeast Asian investors at the forum call for more Australian technology and innovation know-how to be incorporated into the region’s key growth areas

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A gantry crane moves a shipping container at Port Botany in Sydney, New South Wales, Australia. Photo: Bloomberg

Published: 8:39pm, 26 Jun 2023Updated: 9:10pm, 26 Jun 2023

“Lazy investing”, or investing in safe blue-chip or Western markets, has hindered Australian business expansions in Southeast Asia, with those from big investors particularly “underdone”, experts at an economic summit have said.

The lack of exposure and presence in the region was the problem, chair of Aspen Medical Glenn Keys said at the Australia-Asean Business Forum in Sydney on Monday.

About 500 people, including Asean country heads of mission, business chamber representatives and business leaders, attended the forum looking to leverage the deepening relationship between Canberra and the region.

This year’s turnout is the biggest in the forum’s 10-year history.

Many of Australia’s biggest investors with some of the country’s largest sources of capital like superannuation funds had never been to the region, Keys added.

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