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business1d ago
ASEAN will drive global growth. Here's how to unleash it
- ASEAN is projected to become the world's fourth-largest economy by 2030, with the digital economy driving much of the growth.
- The article highlights $560 billion as ASEAN’s projected digital economy size by 2030 and the need for inclusive growth.
- MSMEs face financing gaps; public-private efforts aim to unlock capital and de-risk lending.
- Mastercard’s Impact Fund pledged $5 million in 2024 to support MSMEs with leveraged financing.
- Digital payments growth in the region offers opportunities for MSMEs to reach more customers and create jobs.
- The piece calls for harmonizing regulations and reducing non-tariff barriers to boost intra-ASEAN trade.
- Malaysia’s ILMU model demonstrates regional innovation with a native-language AI tool.
- Asean aims to balance rapid digital progress with stronger cybersecurity and digital literacy.
- ASEAN-BAC and Mastercard collaboration is highlighted as a model for regional economic momentum.
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