Malaysia Committed To Making ASEAN Digital Economy Framework A Reality – MITI Sec-Gen

KUALA LUMPUR, Sept 26 (Bernama) -- Malaysia remains committed to making the ASEAN Digital Economy Framework Agreement (DEFA) a reality, ensuring its implementation delivers tangible benefits for people and businesses.

Investment, Trade and Industry Ministry secretary-general Datuk Hairil Yahri Yaacob said ASEAN, as one of the fastest-growing regions, must work collectively to drive digital transformation.

“Key regional initiatives such as ASEAN’s new project (DEFA) lay the foundation for an ambitious vision – an ASEAN that has fully realised its digital potential as a single, cohesive digital community,” he said at the World Economic Forum (WEF) Business Dialogue on ASEAN’s Digital Economy 2025 today.

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The business dialogue is being held alongside the 57th ASEAN Economic Ministers’ (AEM) Meeting and related meetings this week.

Echoing Hairil Yahri’s remarks, ASEAN secretary-general Dr Kao Kim Hourn stated that the DEFA carries critical importance, serving not only as a platform for deeper cooperation in the digital economy but also as a catalyst to make ASEAN more competitive and appealing to investors, businesses, and innovators.

“With a population of nearly 700 million people, a rapidly expanding network, and a young, excited workforce, ASEAN has the fundamentals to emerge as a global digital powerhouse,” he said.

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Citing a study by Boston Consulting Group, he noted that a robust and forward-looking DEFA could add as much as US$2 trillion (US$1=RM4.22) to the region’s digital economy by 2030.

“Many have made strong progress in areas such as digital trade, e-commerce, cybersecurity, and digital authentication, unlocking tremendous value. Emerging markets in particular have shown their ability to leapfrog by adopting digital solutions, yet challenges remain,” he said.

Kao said gaps still exist in digital talent, digital privacy frameworks and governance of emerging technologies such as artificial intelligence.

“This also speaks to a wider global reality. As the world faces increasing digital fragmentation, ASEAN has a unique chance to demonstrate how a diverse region can unite around common digital rules and shared trust.

“By doing so, we not only strengthen our own competitiveness, but also contribute to shaping future norms of the global digital economy. This tells us that ASEAN must focus on areas with the greatest cross-border impact.

“The provisions under consideration in the DEFA are especially critical, as they will shape the future of economic integration,” he added.

-- BERNAMA