CNBC
Southeast Asia’s digital economy has plenty of growth potential, backed by strong fundamentals including over 460 million digital consumers, young and tech-savvy populations, as well as rising internet penetration.
The digital economy across six countries within the Association of Southeast Asian Nations bloc — known as ASEAN-6 and comprising Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam — is projected to grow 6% annually.
“Regulations often lag behind innovation and there has to be new, effective laws to areas like data and privacy protection as the landscape evolves,” said James Tan, managing partner at Singapore-based venture capital firm Quest Ventures.
