Asean aims to conclude Digital Economy Framework in 2025, attract FDI as bloc

MALAYSIA Minister of Investment, Trade and Industry Zafrul Aziz is optimistic that the Asean Digital Economy Framework Agreement (Defa) could be finalised next year, when the country takes on chairmanship of the bloc.

Speaking at the Spotlight on Asean Business: Charting New Frontiers forum in Singapore on Monday (Sep 9), he emphasised that the agreement will facilitate e-commerce and enable Asean countries to thrive collectively, enhancing their appeal as a bloc for foreign direct investment (FDI).

While Asean nations are in intense competition for FDIs and are aggressively expanding their tech and renewable energy sectors, collaboration is essential, the minister said. This is because investments in one country can have a positive impact on others in the region.