Malaysia-Singapore digital economy pact can be role model for other Asean countries

NST Tue, Jan 31, 2023 10:08am - 1 year View Original

SINGAPORE: Malaysia's pact with Singapore in the digital economy can be a template for other Asean countries in prepping their talent as well as SMEs and start-ups for the digital age.

International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the framework on cooperation in digital economy with Singapore was the first of its kind signed with another country.

"Through this collaboration, Malaysia hopes to learn and share best practices that will facilitate talent-building, infrastructure upgrading, and others, whether in the public or private sector," Tengku Zafrul told the Malaysian media after gthe signing of the framework here on Monday.

His ministry also sealed an agreement with Singapore's Ministry of Trade and Industry for cooperation in the green economy.

Tengku Zafrul said Malaysia welcomed the collaboration on technical know-how and regulatory requirements of electric vehicles (EVs), autonomous vehicles and green economy initiatives such as carbon credit, quantifying well-to-wheels and others.

"These will include standardisation or industry guidelines, technical requirements, a code of conduct, laws and regulations, as well as capacity-building programmes."

The signing was witnessed by Prime Minister Datuk Seri Anwar Ibrahim and his Singapore counterpart Lee Hsien Loong.

"This bilateral cooperation in the digital economy and green economy has the potential to drive industrial development in both countries and create more job and business opportunities for Malaysia and Singapore," Tengku Zafrul said.

On Malaysia's investment outlook, he said there was strong competition and there were areas for improvement, especially in industries the country wanted to focus on.

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