Brunei: Government Service Insurance System (GSIS) President and General Manager Wick Veloso has called on ASEAN member-states to integrate social security priorities with the region’s broader economic strategy. Speaking at the 42nd ASEAN Social Security Association (ASSA) Board Meeting in Brunei, Veloso emphasized the untapped potential of ASEAN’s combined population and long-term funds, estimated at around USD1.3 trillion, to enhance regional stability and resilience.

According to Philippines News Agency, Veloso highlighted that ASEAN’s demographic and financial resources are comparable to half of China’s population, representing a formidable organization of long-term funds. He stressed the importance of leveraging this collective strength to align with the strategic priorities of ASEAN’s economic leaders, which include major infrastructure projects like the ASEAN highway, as well as critical initiatives in data and food security.

Veloso urged social security institutions to actively engage with ASEAN finance ministers and policymakers to ensure that their programs are in harmony with key economic goals such as infrastructure development, digital transformation, and food security. He called for ASSA to evolve beyond being merely a forum for dialogue and to become a strategic partner in regional progress.

“This is not just an organization that meets every year. This is a strong organization of individuals managing long-term funds. By helping to make ASEAN strong, we ensure that every fund we manage brings real and lasting protection to those who deserve it,” Veloso stated, underscoring the need for a more integrated approach to social security and economic development within the region.