Hello from Singapore, colleagues,
I’m finishing up a productive three weeks in the region – beginning with the Indonesia Business Mission, which brought together 35 member companies for 18 GOI meetings. My favorite was with Finance Minister Purbaya, who asked me afterwards how to attract more U.S. investment – a conversation we are continuing.
From there, I joined Cyber Week in Singapore, the ASEAN Summit and President Trump’s visit to KL (we didn’t meet him, but alongside about 30 member companies we spent quality time with new Under Secretary of State for Economic Growth Jacob Helberg, new Assistant Secretary of State for EAP Michael DeSombre (pictured below), and Deputy Assistant Secretary of State for Southeast Asia Hunt VanderToll), and part of Singapore Energy Week, where we partnered with the U.S. Embassy to promote U.S. nuclear technology.
We also launched the 7th edition of “ASEAN Matters for America” in KL, and “U.S. Business for Indonesia” in Jakarta, which showcases stories from 35 member companies highlighting their workforce development, healthcare, and broader impact — both received strong media coverage. Check them out here ASEAN Matters and U.S. Business for Indonesia. I enjoyed many conversations with member company representatives in all three cities, and our excellent USABC teams in Jakarta, Singapore and KL provided superb support.
My key takeaway from President Trump’s media-friendly visit to KL, resulting in trade agreements (details tbd) with Malaysia and Cambodia, and further progress with Thailand and Vietnam, is that we have crested “peak uncertainty” in the U.S.-ASEAN economic relationship, and now it’s about spelling out the terms and agreeing to exceptions. Looking ahead to the Thailand and Cambodia business missions, which SVP/RMD Amb. Osius (ret,) will lead.
To kick off the month our Executive Vice President Marc Mealy led a USABC delegation of six major U.S. food and agriculture companies to the 47th ASEAN Ministers on Agriculture and Forestry (AMAF) meetings in Manila. The mission advanced public-private cooperation and promoted U.S. private sector contributions to ASEAN’s food security, sustainability, and digital agriculture. Key discussions focused on climate-smart agriculture, agri-tech innovation, resilient supply chains, and sustainable farming practices.
The following week, the Philippine Embassy and USABC co-hosted a roundtable with ASEAN Agriculture Attachés in Washington, D.C., to discuss shared priorities in the agri-food sector. The dialogue built on outcomes from the 47th AMAF meeting, including the adoption of the 2026–2030 FAF Sectoral Plan, and U.S. tariffs and exemptions. Participants also exchanged views on agriculture technology innovation, regulatory challenges, and reinforcing commitment to deepen U.S.-ASEAN collaboration in agriculture.
Later that week the Council hosted a Roundtable with H.E. Luhut Pandjaitan, Chairman of Indonesia’s National Economic Agency (DEN). The Chairman highlighted Indonesia’s stable economic outlook, ongoing reforms in digitalization and investment facilitation, and strategic focus on critical minerals and energy. H.E. Luhut emphasized openness to U.S. investment in agriculture, aviation, and manufacturing, and underscored trust, regulatory clarity, and mutually beneficial trade as key to strengthening economic ties.
On the sidelines of the Annual Meetings of the World Bank and IMF, the Council hosted a series of engagements with Southeast Asian government delegations visiting Washington. A select group of member companies met with Undersecretary Joven Balbosa from the Department of Finance of the Philippines, Deputy Governor Zeno Ronald R. Abenoja from the Bangko Sentral ng Pilipinas, and Deputy Minister Vorapak Tanyawong from the Ministry of Finance of Thailand (pictured). The private roundtables covered opportunities for continued economic growth and foreign investment, as well as ways to bolster ease of doing business for American companies.
Back in the region, Dr. James Andrade, USABC’s Chief Representative in Singapore, led a USABC delegation of six major U.S. energy companies to Kuala Lumpur during the 43rd ASEAN Ministers on Energy Meeting (AMEM). The mission advanced public-private collaboration and emphasized the U.S. private sector’s role in ASEAN’s energy transition, focusing on low-carbon solutions, renewables, grid modernization, and digitalization. Delegates met with senior officials from the ASEAN Secretariat, Malaysia’s Ministry of Energy Transition, the Philippines’ Department of Energy, Vietnam’s Ministry of Industry and Trade, and the U.S. Department of State.
As mentioned, I led my first Business Mission as President and CEO to Indonesia, alongside SVP and Regional Managing Director Amb. Ted Osius. The delegation of 35 U.S. companies met with Indonesia’s Coordinating Ministers for Economic and Food Affairs, Finance Minister, Trade Minister, Minister of Investment and Downstreaming, Minister of Health, Minister of Communication and Digital Affairs, and the Governor of Jakarta, among other senior officials. Discussions focused on business expansion, investment opportunities, and strengthening U.S.-Indonesia economic and trade ties.
In the Philippines, USABC, together with select member companies, met with the Department of Trade and Industry (DTI) to discuss the implementation of the E-Commerce Philippine Trustmark. Members sought clarification on the Trustmark’s scope, compliance timeline, and application process. Following the consultation, DTI’s E-Commerce Bureau committed to continued engagement with industry stakeholders ahead of the proposed deadline of the voluntary registration on December 31.
Back in D.C., we welcomed H.E. Koy Kuong, Cambodia’s Ambassador to the U.S., at a luncheon led by EVP Marc Mealy and supported by ConocoPhillips. The Ambassador highlighted Cambodia’s priority sectors—including agriculture, tourism, renewable energy, health, and pharmaceuticals—and emphasized the new Investment Law and incentives to attract U.S. investment in Cambodia.
The next day, Marc co-hosted and moderated the US-ASEAN AI Cooperation Forum at Google’s Washington, D.C. office, alongside the ASEAN Committee in Washington (ACW) and the Embassy of Vietnam. The event brought together ASEAN Ambassadors, U.S. officials, and business leaders to discuss AI’s role in ASEAN’s economic growth, focusing on governance, investment, and innovation. Participants emphasized ASEAN’s strong potential for AI development and the growing momentum for deeper U.S.-ASEAN collaboration in the sector.
Back in the region, USABC held its Health & Life Sciences Committee Roundtable at Thermo Fisher Scientific’s Singapore office. The session featured a guest presentation by Ms. Nydia Ngiow, Managing Director (Singapore) of BowerGroupAsia titled, “Tariffs on the Healthcare and Life Sciences Sector: Global Shifts and Southeast Asia’s Role in the New Landscape.” Members engaged in robust discussion, reviewing the Committee’s achievements in 2025 as well as refining strategies and identifying key priorities as we look ahead to 2026. The roundtable concluded with a tour of Thermo Fisher’s Bioprocess Design Center.
In Bangkok, the Council, in partnership with ASEAN’s Committee on Science, Technology and Innovation (COSTI), hosted the 2025 Innovation Showcase bringing together ASEAN policymakers and U.S. business leaders to highlight innovation for sustainable and inclusive growth. The event highlighted the importance of public-private collaboration, while Corteva Agriscience and Illumina showcased advancements in sustainable agriculture and precision genomics.
On the sidelines of ABIS 2025 in Kuala Lumpur, I was pleased to co-host the “U.S.-ASEAN Connect Series” with the U.S. Mission to ASEAN and ASEAN-BAC to advance the digital economy and supply chain resilience. Joined by ASEAN Secretariat officials and U.S. Undersecretary Jacob Helberg, we heard from leaders at Meta, Mastercard, and AWS on the importance of the ASEAN Digital Economy Framework Agreement (DEFA) and the role of public-private collaboration in driving innovation, security, and sustainable growth across the region.
Capping off the trip, I had the pleasure of moderating the Singapore-US Forum at Singapore International Energy Week (SIEW) 2025, co-hosted by USABC, the U.S. Department of Commerce, and Singapore’s Energy Market Authority. The event featured insightful remarks from Singapore’s Minister of Manpower Tan See Leng and U.S. Secretary of Energy Chris Wright, with keynote addresses by IAEA Deputy Director General Karine Herviou and U.S. Embassy Singapore Chargé d’Affaires Graham Mayor. Our discussion brought together leaders from government, industry, and academia to explore how civil nuclear energy can support Southeast Asia’s low-carbon transition. Panelists emphasized the importance of regulatory alignment, workforce development, and regional collaboration to make nuclear energy a viable and sustainable path for ASEAN’s energy future.
Before signing off, I’d like to highlight a couple advocacy successes for the Council this month:
Creditable Withholding Tax Rate Cut (Philippines)
On September 25, the Philippines’ Bureau of Internal Revenue (BIR) issued a milestone regulation cutting the creditable withholding tax (CWT) rate in half—from 1% to 0.5%—for companies engaged in the wholesale distribution of motor vehicles, pharmaceutical products, and fuels.
This achievement reflects two years of sustained USABC-led advocacy with both the Executive and Legislative branches, resulting in the passage of an enabling law and its implementing regulation. Member companies from two sectors have already benefited from the reduced rate, realizing substantial cash flow improvements—potentially amounting to millions of dollars annually. The Council continues to engage with tax authorities to ensure all eligible members can fully access this benefit.
Read the full regulation here
Revision of K3L Certification (Indonesia)
In another key win, ICT products were successfully excluded from the annex list in the final version of Indonesia’s revised regulation (MoT Reg. No. 33/2025). Initially, the Ministry of Trade had proposed including ICT products, which would have imposed additional certification requirements and delayed market access.
Through proactive engagement, USABC ensured these products remain outside the K3L certification scope—preserving efficient market entry and regulatory predictability for U.S. digital and technology companies.
These milestones underscore the impact of the Council’s sustained advocacy and collaboration with both member companies and government partners across the region. As we look ahead to the remainder of the year, our focus remains on advancing policies that promote an open, predictable, and competitive business environment throughout ASEAN. Thank you to all our members and colleagues whose continued engagement makes these successes possible — we look forward to building on this momentum in the months ahead.
Best Regards,
Brian
UPCOMING EVENTS
Roundtable with Cambodia's Deputy Prime Minister Sun Chantol (November 4)
The Council is pleased to host a roundtable discussion with His Excellency Sun Chanthol, Deputy Prime Minister of Cambodia and First Vice-Chairman of the Council for the Development of Cambodia, during his visit to Washington, D.C. for U.S.-Cambodia trade negotiations. A longstanding partner of the Council, DPM Sun Chanthol will share insights on Cambodia’s trade and investment outlook ahead of USABC’s Cambodia Business Mission (December 1–2). The roundtable offers members a valuable opportunity for direct, off-the-record engagement to discuss business interests, opportunities, and challenges in the Cambodian market.
Thailand Business Mission (November 11-13)
From November 11-13, the Council will organize the 2025 Thailand Business Mission in Bangkok, Thailand. This year’s mission, proceeding with the Government of Thailand's approval in the wake of the passing of Queen Sirikit, the Queen Mother of Thailand, takes place at an important moment, following the appointment of Prime Minister Anutin Charnveerakul and his cabinet, as well as the new administration’s policy statement. The mission will focus on engaging the new administration, gaining insights into its policy agenda, and reinforcing the private sector’s role as a trusted partner in supporting Thailand’s economic and development priorities.
Welcome Luncheon in honor of Amb. Indroyono Soesilo (November 12)
The Council is honored to host a welcome luncheon for H.E. Dwisuryo Indroyono Soesilo, Ambassador of Indonesia to the United States, and Ms. Nidya Kartikasari, the Embassy’s new Deputy Chief of Mission. The luncheon will provide members with an opportunity to engage directly with the Ambassador, learn about his priorities and goals, and share company perspectives. Building on the momentum of the 2025 Indonesia Business Mission (October 15–17), the event will highlight key outcomes from the mission as the Council continues to strengthen the U.S.-Indonesia business partnership.
Cambodia Business Mission (December 1-2)
The US-ASEAN Business Council will lead its 2025 Cambodia Business Mission from December 1–2, 2025, in Phnom Penh, bringing senior U.S. executives together with top Cambodian officials to strengthen commercial ties and explore opportunities under the Royal Government of Cambodia’s “Pentagon Strategy.” The mission will focus on economic reform, U.S.-Cambodia trade, energy and infrastructure development, and human capital and SME capacity building, with meetings expected with Prime Minister Hun Manet, key cabinet ministers, and U.S. Embassy leadership. The registration deadline is November 19, 2025, and interested members may contact Jack Myint (jmyint@usasean.org) or Dararith Lim (dlim@usasean.org) for more information.
INSTITUTE UPDATE
In October, the Institute was pleased to receive a grant award from the U.S. Department of War to contribute to the Vietnam Wartime Accounting Initiative (VWAI), a critical mechanism for the U.S. to support Vietnam’s efforts to locate and identify Vietnamese personnel killed or missing during the Vietnam War. Drawing upon the expertise, resources, and goodwill of the Council's strong network, the initiative aims to advance corporate social responsibility while also strengthening U.S.-Vietnam relations, building strategic trust to create new opportunities for U.S. businesses operating in Vietnam.
Additionally, the Institute was pleased to co-host a reception with the U.S.-ASEAN Center on the sidelines of the World Bank/IMF meetings. The reception featured ASEAN embassy and other government officials, the U.S. private sector, think tanks, and academia. The reception underscored the importance of U.S.-ASEAN relations and public-private partnerships in addressing key challenges, including online scams and missing persons from conflicts.
To cap off the month, on October 28, USABCI took part in the YSEALI Fellows Forum by delivering keynote addresses. President & CEO of the Institute Maggie Hanson-Muse, along with Senior Country Research Analyst Angelica Ortega, represented both the Council and the Institute at the event. The Forum convened 150 emerging leaders from the public and private sectors across Southeast Asia. Their remarks drew on personal experiences in the region, offered insights on U.S.–ASEAN relations, and highlighted the Institute’s initiatives that align with YSEALI’s core themes.
COUNCIL IN THE NEWS
Trump's Malaysia, Cambodia deals link tariff cuts to political loyalty - Nikkei Asia
US-ASEAN Business Council on Trump's Summit Deals - Bloomberg
Co-Chairs’ Statement on the 6th U.S.-ASEAN Cyber Policy Dialogue - U.S. Department of State
Trump projects peacemaker image at Cambodia-Thailand deal ceremony - Washington Post
Trump’s Visit Underscores US-ASEAN Ties - McFeeters - Bernama
Assessing Trump’s Asia Tour - Asia Society
US unveils Vietnam trade framework after 20% tariff deal - The Edge Malaysia
Visiting Asia, President Trump Scheduled To Meet Chinese President To Attend ASEAN Summit - VOI
US-ASEAN Business Council Launches U.S. Business Report for Indonesia - Tribun Pontianak
Visiting Asia, President Trump Scheduled To Meet Chinese President To Attend ASEAN Summit - VOI
US-ASEAN Business Council Launches U.S. Business Report for Indonesia - Tribun Pontianak
US Reaffirms Commitment to Support Indonesia’s Economic Growth Through BISA - Metro TV News
US Companies Explore Transportation Partnerships in Indonesia - Alreina
Vietnam Innovation Summit 2025 set for November 6-7 in HCMC - VnEconomy
Vietnam Innovation Summit 2025: Bridging Innovation with Growth - AsiaTechDaily
Indonesia Pushes for Faster, Sustainable Investment with US Firms - RRI
HCM City, US organisations sign cooperation agreements - Viet Nam News
Boeing Projects Indonesia Will Need 1,500 New Aircraft in 20 Years - Tempo
US Investment in Indonesia Hits USD 14.85 Billion - RRI
BKPM Warns of the Impact of the Trade War on U.S. Investment in Indonesia - Kumparan
Ministry of Investment Highlights the 'Triple Helix' to Promote Innovation - Antara
East Timor steps into Asean spotlight amid US-China rivalry - The Star
AI and Smart Manufacturing to take centre stage at VIS 2025 - VOV
Malaysia warns U.S. chip tariff could hurt competitiveness and disrupt supply chains - Cryptopolitan
The Scam Epidemic Won’t Wait. Neither Should We - Stimson Center
WATCH: US-ASEAN Business Council EVP Marc Mealy on tariffs, trade and transparency - ANC
ASEAN Agri Ministers Seek U.S. Tariff Exemption – Manila Bulletin
Tiu-Laurel assumes 2026 AMAF chairmanship – Daily Tribune
If the US doesn’t think beyond tariffs in Southeast Asia, others will – The Hill
US Chip Tariffs On Malaysia Could Hit America, Global Supply - Bernama
