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ASEAN Business Awards 2020

Posted on:
31.08.2020 by RECOTVET

Implementing Institutions:
ASEAN Business Advisory Council

Supporting Institutions:
VCCI, BRG Group, Deloitte


Scale of Initiative:


The ASEAN Business Awards

The ASEAN Business Awards (ABA) was first launched by the ASEAN Business Advisory Council (ASEAN-BAC) in 2007 to mark ASEAN's 40th anniversary. The ABA has been running for over 10 years, recognising more than 100 outstanding ASEAN businesses that have shown significant progress in establishing and reinforcing their positions in various sectors and contributing to ASEAN’s economic growth and prosperity. In addition, the Awards also bring to the spotlight promising ASEAN small and medium-sized enterprises (SMEs) with the potential to become global economic players.

The Award categories in 2020 are:

  • Priority Integration Sectors
  • SME Excellence (with 4 sub-categories: Growth, Employment, Innovation, and Corporate Social Responsibility (CSR))
  • Women Entrepreneur
  • Young Entrepreneur
  • Family Business
  • Skills Development
  • Combating COVID-19
  • Friends of ASEAN
  • Inclusive Business

The Skill Development Award

Since 2019, ASEAN-BAC with support of the German government's Regional Cooperation Programme for Technical and Vocational Education and Training in ASEAN (RECOTVET) have launched the new category called the ASEAN Skills Development Award. The Award highlights the role human capital plays in the growth of companies and the economy of the region as a whole. The new category recognises outstanding companies that have demonstrated a significant contribution to human capital development, especially in the current context of technological disruption.

The ABA welcomes all eligible companies which are improving the quality of skills of the workforce through skilling, reskilling or upskilling activities to submit an application. Companies who actively cooperate with public training institutes or government authorities, who prepare the workforce for Industry 4.0 or whose activities are easily replicable in other sectors or ASEAN members states are particularly encouraged to apply. Examples of human capital development activities that companies might engage in are: offering guided internships or apprenticeships for students from technical or vocational education and training (TVET) institutions, supporting the development of skill standards or labour-market oriented training curricula, upgrading the skills of teachers, unemployed workers or existing company staff, or providing career orientation for young people.

Winners of the Skills Development Award are expected to be companies that set an inspiring example for other businesses in contributing to the human capital development of ASEAN’s workforce.

Why join?

Join ASEAN Business Awards 2020

Beyond a validation and recognition of your work, joining the ABA offers your company networking opportunities and exposure to the ASEAN business community. The ABA confers respect and enhances the credibility of your company brand among industry peers. Many of the most recognised businesses in ASEAN today are among ABA's past awardees.

The award ceremony, which usually takes place as part of the annual ASEAN Business and Investment Summit (ABIS), also enjoys widespread coverage by international and local media outlets as the ABIS is one of the most anticipated annual events of ASEAN’s business community.

Who can apply?

  • Be an ASEAN-incorporated enterprise with at least 40% ASEAN-owned equity;
  • Be in operations for a minimum of 3 (SMEs) to 5 (Large companies) years;
  • Preferably have operational presence in 2 or more ASEAN countries;
  • Preferably have 2 (SMEs) to 3 (Large companies) years of audited financial statements.

What are the criteria?

  • Impact on human capital development through improvements of the quality of skills of the workforce
  • Cooperation with governments or training institutions
  • Innovation and replicability in other sectors or ASEAN member states
  • Sustainability financially and institutionally

How to apply?

Tell us how you contribute to human capital development in ASEAN by submitting your application before 30 September 2020 on the ASEAN Business Awards 2020 webpage.

For more information, please visit the FAQ page or contact us at This email address is being protected from spambots. You need JavaScript enabled to view it..