Asean targets US$2tri digital economy under new strategic plan
KUALA LUMPUR: Malaysia is pushing the Asean Economic Community (AEC) strategic plan aimed at positioning the region as the world's fourth-largest economic bloc by 2030, with a target to double Asean's digital economy to an estimated US$2 trillion (RM8.46 trillion).
Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz described the plan as a "blueprint for regional economic transformation" that will drive sustainable growth and deeper integration.
"This plan represents a new chapter in Asean's economic journey, structured to respond to evolving business needs and emerging challenges while ensuring policies remain dynamic and relevant," he said at the Regional Socialisation of the AEC Strategic Plan under the Asean Community Vision 2045, held here today.
The AEC Strategic Plan, succeeding the AEC Blueprint 2025, is organised into five-year cycles leading up to 2045, serving as a comprehensive roadmap for implementing the economic dimensions of the Asean Community Vision 2045.
Tengku Zafrul said the first phase of the plan, spanning 2026-2030, is a critical step in harnessing Asean's vast potential and enhancing its resilience.
Central to the plan is the ambition to enhance intra-Asean trade by fostering greater interconnectedness within the single market for goods, services, and investments.
"Reducing non-trade barriers is pivotal to unlocking Asean's full trade potential, strengthening competitiveness, and building resilience against external shocks," Tengku Zafrul said.
The digital economy stands out as a key focus of the strategic plan, with its doubling to US$2 trillion projected to bring transformative benefits to businesses across the region.
Tengku Zafrul highlighted how this initiative will empower small and medium enterprises (SMEs) and accelerate innovation.
"This forward-looking framework underscores Asean's readiness to embrace digital transformation and adapt to a rapidly changing global landscape," he said.
The plan also reaffirms Asean's dedication to market openness, countering the trend of isolationism seen in some global economies.
Tengku Zafrul stressed the importance of diversifying Asean's economic relationships by strengthening ties with both traditional partners and emerging markets.
"This approach will reduce over-reliance on select economies and enhance Asean's macroeconomic resilience," he added.
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