ASEAN’s Digital Economy Potential Could Reach USD2 T in 2030

Jakarta – ASEAN’s digital economy potential is expected to grow to USD2 trillion by 2030. The amount covers about 14-28 percent of the gross domestic product (GDP) of the ASEAN region driven by the ASEAN Digital Economy Framework Agreement (DEFA).

This was revealed by the Coordinating Minister for Economic Affairs, Airlangga Hartarto, at the UOB Gateway to ASEAN Conference 2023 in Jakarta on October 11, 2023.

“The ASEAN DEFA serves as a collective effort to realize the potential of the ASEAN digital economy as a driver of massive growth this decade from USD1 trillion to USD2 trillion by 2030 or covering around 14-28 percent of ASEAN GDP by 2030,” said Airlangga.

Airlangga further explained that the ASEAN DEFA framework identified the development of digital infrastructure and connectivity as a prerequisite to unlock most of the digital economy’s impact on the overall economy.

“This includes ensuring a high level of internet penetration and/or internet access to the public supported by adequate human resources. devices and mobile networks,” he added.

Even so, the region’s journey towards an epicenter of growth, deeper integration and cooperation is an ongoing process, and efforts to achieve connectivity remain at its core.

“As ASEAN adapts to changing global dynamics and emerging challenges, its dedication to connectivity will remain a key driver of progress and prosperity for the region and its people,” Airlangga said.

He expressed hope that the strong synergy among ASEAN stakeholders that UOB is trying to build at the forum will catalyze economic growth in the region, and unlock investment for Indonesia’s development plans. (*)