Latest news with #Asean-GCCEconomicForum2025
New Straits Times
4 days ago
- Business
- New Straits Times
Gobind Singh on what Malaysia must do to shift to tech-driven future
KUALA LUMPUR: The rapid evolution of technology demands more than just innovation, Digital Minister Gobind Singh Deo said. It also requires regulatory frameworks that align with the modern age to enable the nation's transition to a technology-driven future. "The question is: how do we get people to adopt new technology? It really boils down to creating awareness," Gobind said during the Asean-GCC Economic Forum 2025. "One way to achieve this is by discussing concepts like smart cities, where we can show people how doing things differently can impact their lives and improve outcomes." Outdated Laws Hindering Innovation Gobind highlighted a pressing issue of the legal frameworks governing certain technologies are often outdated and fail to accommodate new advancements. He gives an example of autonomous vehicles which face significant roadblocks under current laws that require a licensed driver for a vehicle to be insured. "Without a licensed driver, challenges arise such as the inability to obtain insurance coverage. This creates a conflict with the law, as a driverless vehicle would technically be considered illegal on public roads," he explained. Such limitations are not unique to autonomous vehicles as other industries face similar barriers where existing legislation restricts the adoption of transformative technologies. Gobind stressed the need to modernise these laws. "Many existing policies and laws were not designed to accommodate new technologies. Reforming such laws is essential to enable the adoption of innovative solutions." A Unified Vision for Technological Progress Gobind said the ministry is working towards creating smarter, AI-driven cities that can improve the quality of life for its citizens especially with the establishment of the National AI Office in December that marked a significant step forward. "Building smarter cities requires collaboration between governments, industries, and communities. It also requires data—lots of it," Gobind said. He acknowledged that the government must digitise its vast repositories of data, create systems for sharing information, and establish integrated frameworks to ensure solutions work seamlessly. Focus Areas: Healthcare, Transport and Beyond The ministry has also identified key sectors where technology can have a transformative impact, including healthcare, transportation, and government services. In healthcare, for instance, Gobind envisioned a future where hospital wait times are drastically reduced through the integration of digital systems while similarly in transportation, he emphasised the importance of managing traffic systems and ensuring timely public transport. "These examples show how adopting technology can make cities smarter and daily life more efficient," Gobind said. However, he cautioned that progress in these areas hinges on addressing legal and regulatory barriers. Role of Legislative Reform in Tech Revolution Meanwhile, Gobind reiterated that legislative reform is a cornerstone of Malaysia's digital transformation strategy. "As we explore the development of autonomous vehicle networks, it's clear that we need to address regulatory conflicts. "The first step is to evaluate the technology itself and identify where the current legal framework may be inadequate or in conflict with these advancements," he said. The ministry's efforts are not just about enabling technology but also ensuring that its benefits are felt across society. By aligning regulations with the realities of modern innovation, the government aims to create an environment where technology can thrive. With its focus on next-generation technology and smart city development, Malaysia is poised to become a leader in technological innovation but Gobind cautioned that achieving this vision requires a clear strategy, robust legislative support, and active collaboration between stakeholders.
New Straits Times
4 days ago
- Business
- New Straits Times
Tengku Zafrul: Miti studying proposal to merge HDC and Matrade
KUALA LUMPUR: The Investment, Trade and Industry Ministry (Miti) is studying the proposed merger of the Halal Development Corporation (HDC) and the Malaysia External Trade Development Corporation (Matrade). Its minister, Tengku Datuk Seri Zafrul Aziz, said the matter is currently under discussion, alongside several other proposals aimed at strengthening the country's halal industry. "We want to enhance the halal industry by focusing on halal development and avoiding overlaps in halal trade responsibilities. "We want Matrade to concentrate more on halal trade by facilitating market access for halal products, while HDC should focus on halal development," he told reporters after the Asean-GCC Economic Forum 2025 here today. Tengku Zafrul added that the Malaysian Investment Development Authority (Mida) would continue to focus on investment activities related to the halal industry.
![[UPDATED] Anwar: Businesses must seize the economic momentum established by leaders](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fimages%2Farticles%2FHQ270525HR044_1748351424.jpg&w=3840&q=100)
New Straits Times
5 days ago
- Business
- New Straits Times
[UPDATED] Anwar: Businesses must seize the economic momentum established by leaders
KUALA LUMPUR: The business community of Asean, the Gulf Cooperation Council (GCC) and China must seize the economic momentum established by their leaders and turn it into tangible outcomes. Prime Minister Datuk Seri Anwar Ibrahim said that while governments have laid the groundwork for stronger regional cooperation, the private sector must now step up to ensure that the ambitions of shared prosperity and deeper integration are fully realised. "We have done our part. The political leadership has assured you of stability and given you the policy clarity, attractive investments, and the promotion of new technology. "We will do whatever is necessary to promote investments and make our countries attractive to investors. "Now that we have finished our session, the ball is in your court. The business community, the corporate players, the captains of industry must seize the moment and do whatever is necessary, because we have given our support and policy clarity," he said in his opening remarks at the Asean-GCC-China gala dinner, held in conjunction with the Asean-GCC Economic Forum 2025. Anwar praised the collective leadership of Asean, the GCC and China for reaching a consensus that outlines shared principles of good governance, clear economic policy and prioritising citizens' welfare. "As such, I salute all our Asean, GCC and China leaders. We have proven that it can be done. "I look forward to this Asean-GCC-China Economic Summit because we want to see results, and it is now your (business community's) duty to act and ensure that our countries benefit from one another. "There is so much synergy, so much collaboration needed, and so much hope to fulfil the aspirations of our countries." The high-level summit, hosted by Malaysia as Asean Chair, brought together leaders from both regional blocs to strengthen cooperation across political, economic and security domains. The 46th Asean Summit, held under Malaysia's 2025 Chairmanship theme, "Inclusivity and Sustainability", marks the country's fifth term as Asean Chair, following previous chairmanships in 1977, 1997, 2005 and 2015.
