SEA's digital economy a bright spot for Singapore: DPM Heng

Singapore

SOUTH-EAST Asia's fast-growing digital economy is set to create more business and job opportunities for Singapore and its people, said Deputy Prime Minister and Finance Minister Heng Swee Keat.

Speaking at the launch of e-commerce firm Shopee's new headquarters, Mr Heng said the growth of the digital economy will be driven by the greater spending power of a rapidly-growing middle class, coupled with higher internet usage. He cited a study by Google and Temasek that projected the South-east Asian digital economy to triple in value to US$240 billion by 2025.