Advancing Asean in Digital Age

Digital revolution could add US$1 trillion to Asean GDP by 2025

PETALING JAYA: The digital revolution sweeping through Asean could add an estimated US$1 trillion to the region’s gross domestic product by the end of 2025, said CIMB Asean Research Institute’s (CARI) president Tan Sri Munir Majid.

“There is great excitement and expectation in the Asean region about the digital age. The digital economy alone will then be worth US$200bil before rising rapidly. However there are challenges that must be addressed to achieve this,” Munir said in a press release.

“Asean human capital must be fit for purpose – this means far better education and training than presently offered. This means retraining for new capabilities. No regulations that inhibit innovation and creativity within or across borders. Most of all, low cost manufacturing employment can no longer work to attract investment. Indeed work has to be found for those waiting to be employed in Asean’s populous countries,” he added.

CARI launched yesterday a publication titled “Advancing Asean in the Digital Age” at the Asean Business and Investment Summit 2017 to commemorate the regional grouping’s 50th anniversary.

It was published by CARI, in collaboration with the Asean Business Club.

“The book captures the thoughts and ideas of business leaders, thought leaders, as well as policymakers on how the digital age will impact the economic prosperity of the region,” it said.

The publication contains 37 articles, including those by heads of governments such as Prime Minister Datuk Seri Najib Razak, Australian Prime Minister Malcolm Turnbull, Prime Minister Hun Sen of Cambodia and several other ministers in Asean.

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