A strong regulatory framework is crucial for ASEAN to unlock its digital economy potential, projected to grow from US$300 million to US$1-2 trillion by 2030, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He emphasised that enhancing data flows can reduce transaction costs and foster innovation, urging the establishment of harmonised regulations for data-sharing. He cited examples from the banking sector to illustrate the benefits of regulatory cooperation and called for incorporating international best practices to strengthen data policies across ASEAN.
Also available in 'The Sun', 'The Borneo Post Sarawak'.ZAFRUL: STRONG REGULATIONS WILL PROPEL ASEAN DIGITAL ECONOMY
A strong regulatory framework is crucial for ASEAN to unlock its digital economy potential, projected to grow from US$300 million to US$1-2 trillion by 2030, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He emphasised that enhancing data flows can reduce transaction costs and foster innovation, urging the establishment of harmonised regulations for data-sharing. He cited examples from the banking sector to illustrate the benefits of regulatory cooperation and called for incorporating international best practices to strengthen data policies across ASEAN.
Also available in 'The Sun', 'The Borneo Post Sarawak'.
