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Singapore, Malaysia Conclude Digital, Green Economic Frameworks

Two Frameworks of Cooperation, one in the digital economy and another in the green economy have been fundamentally concluded by the two nations through Singapore’s Minister for Trade and Industry Gan Kim Yong and Malaysia’s Senior Minister and Minister of International Trade and Industry, Dato’ Seri Mohamed Azmin Ali.

“The Frameworks of Cooperation in both the digital economy and green economy mark a milestone in the long-standing and multifaceted partnership between Singapore and Malaysia. The Agreements lay the foundation for further cooperation between both countries across various areas of the green and digital economies in Singapore and Malaysia, to deliver tangible benefits to our communities and businesses,” says Minister Gan.

The Cooperation Frameworks serve as the foundation for future bilateral initiatives in the digital and green economies. Singapore and Malaysia have also agreed to work together to sign both Cooperation Frameworks by the end of 2022.

The COVID-19 pandemic has caused technological disruption and accelerated digitalisation, significantly altering consumer behaviours and business models while opening up new opportunities.

Singapore and Malaysia will foster greater interoperability and collaboration in the digital economy to capture the next phase of growth.

The Framework for Cooperation in the Digital Economy will facilitate increased collaboration in a variety of areas, including:

  • Trade facilitation;
  • Digital identities;
  • Standards;
  • Investment promotion;
  • Facilitation in digitalisation;
  • Digitalisation of micro, small and medium enterprises.

This will open a broader range of opportunities for businesses, workers, and communities in both countries.

Singapore and Malaysia will strengthen their collaboration in the green economy to decarbonise industries and enable businesses and workers to capitalise on emerging opportunities.

Both countries have agreed to collaborate on next-generation mobility under the Framework of Cooperation in Green Economy, which includes:

  • Electric and autonomous vehicles;
  • Environmental, social and governance (ESG) policy exchanges;
  • Capacity development for exporters;
  • Low carbon solutions including hydrogen and carbon capture, utilisation and storage; carbon credits industry collaborations; and
  • Renewable energy technology standards.

The 12th Malaysia Plan’s objectives of boosting green businesses, lowering pollution and greenhouse gas emissions, and conserving natural resources are all in line with the areas of cooperation in the green economy that has been agreed upon, Dato’ Seri Azmin stressed.

The Senior Minister also reaffirmed that this effort is being made as part of the Malaysian Government’s initiative to hasten the transition of the local manufacturing sector, particularly SMEs, to ESG and green economy, allowing them to integrate into regional and global supply chains; strengthening supply chain resilience; and meeting the growing demand of local consumers for ESG-compliant products.

Through this collaboration, the two nations can share their best methods for measuring carbon emissions from the manufacturing sector.

In keeping with the MyDigital Agenda, he also expressed confidence that the Digital Economy Framework will further enable companies to digitally integrate their activities globally, improving economic competitiveness.

Meanwhile, the Enabling Masterplan 2030 (EMP2030), which outlines Singapore’s vision for an inclusive society in 2030, was just made public.

The EMP2030, Singapore’s fourth Enabling Masterplan, was developed by a 27-member Steering Committee and includes 29 recommendations organised around three strategic themes and 14 focal areas that address the various life stages and needs of people with disabilities and their caregivers.

The government has accepted all EMP2030’s recommendations and will work with partners in the public and private sectors to put them into action. The following are some highlights from the recommendations and selected implementation plans:

  • Strengthen support for lifelong learning in a fast-changing economy
  • Enable persons with disabilities to live independently
  • Create physical and social environments that are inclusive to persons with disabilities

Singapore believes that everyone has a role to play in creating a fair and inclusive society, one in which people with disabilities can pursue their dreams, reach their full potential, and participate as integral and contributing members of society.

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