Southeast Asian nations are leaning towards a business-friendly stance in their approach to AI regulation, contrasting the European Union's rigorous standards, according to reports. A confidential draft from the Association of Southeast Asian Nations (ASEAN) titled Guide to AI Ethics and Governance is presently being circulated among tech giants including Meta, IBM and Google, for feedback. This guide emphasises respecting the diverse cultures of the region instead of dictating specific risk categories, differing from the EU's AI Act. The voluntary ASEAN policy aims to steer domestic regulations in a region with varied rules on censorship, misinformation, and public content. IBM Asia's VP, Stephen Braim, has welcomed this approach, likening it to the US's NIST AI Risk Management Framework.