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Friday, January 17, 2025

New pact can boost Asean digital economy to US$2 trillion, says Gobind

 

GOBIND
Digital minister Gobind Singh Deo said Asean ministers plan to build a safer digital environment in the region, including the harmonising of digital standards.

PETALING JAYA
The value of Asean’s digital economy is expected to double to US$2 trillion by 2030 once member countries sign a new digital trade agreement, says digital minister Gobind Singh Deo.

Gobind hoped that talks on the Digital Economy Framework Agreement could be hastened so that the regional grouping can tap into the potential economic benefits.

“Malaysia fully supports finalising the agreement as soon as possible due to the significant economic benefits it will bring.

“Once completed, this agreement could double the value of Asean’s digital economy from the projected US$1 trillion in 2030 to US$2 trillion,” he said in a statement after the fifth Asean digital ministers’ meeting in Bangkok, Thailand.

The agreement is expected to provide a clear plan to boost digital trade, ensure online safety, and encourage more involvement from small and medium-sized businesses in the sector.

The meeting focused on further improving regional digital connectivity and cybersecurity, while fostering collaboration among member states to combat online scams and fraud.

Gobind said Asean ministers plan to build a safer digital environment in the region, including the harmonising of digital standards.

He said Malaysia will spearhead five projects, particularly an artificial intelligence (AI) safety network to encourage responsible AI use, and draft guidelines for better data centre development to balance economic growth with environmental priorities.

Other projects include developing a cross-border cloud computing framework, expanding the 5G workforce, and leading efforts to create an Asean strategy on cybersecurity cooperation. - FMT

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