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According to a recent report, Permodalan Nasional Bhd (PNB) – a Malaysian government-linked investment company – and Malayan Banking Bhd (Maybank) expect to see 20% increase in ASNB investments next year with the launch of ASNB e-channels via Maybank’s digital platform recently.
The new services enable ASNB customers to make transactions and view their account balances via Maybank’s ATMs and Maybank2u (M2U) in real time, beyond banking hours.
Speaking at the launch ceremony, Maybank’s head of community financial services said that currently, over three million ASNB transactions are conducted over the bank’s counters a year, of which around one million comprise deposits transactions.
He noted that the firms expect some 50% of these deposit transactions will move to the digital platforms. It was also noted that the new services will be extended to the Maybank app by end of this year.
In addition to the new services, ASNB and Maybank also announced that by end of this year, small and medium enterprises (SMEs) will be able to transfer funds on behalf of their employees to ASNB via M2U Biz.
Another new feature that will provide greater convenience to retail customers is the ability to apply for an ASNB loan via M2U, which will be made available by the first quarter of 2019, it was noted.
To date, ASNB has 14 unit trust funds and manages 235.96 billion units in circulation owned by more than 13.74 million account holders.
Meanwhile, Maybank’s group president and CEO said that the bank is slightly more optimistic on its 2019 outlook as it sees Malaysia’s economy growing at 4.9% next year compared to its 4.8% projection for 2018.
It was noted that 2019 is going to be another interesting year. It will be slightly better than 2018 as the firm is quite optimistic about its outlook.
The CEO also noted that while there is concern on how the trade numbers will perform going forward due to US-China discussions, he sees that Malaysia is in a comfortable position, noting it could probably see a slightly faster growth compared to 2018.
It was noted that there is to be an FOMC (Federal Open Market Committee) is meeting soon wherein interest rates and dollar rates moving up bit by bit is expected to be seen. However, people will be able to allocate risks into their investments accordingly, he added.
Additionally, the CEO noted that the growth for this year was within the bank’s expectations.
It was noted that the bank’s growth is relative to the growth of the economies where it has a presence including Malaysia, Singapore and Indonesia.
According to another report, ASNB customers can top up their investments via digital channels following a tie-up between Permodalan Nasional Bhd (PNB) and Malayan Banking Bhd.
Reiterating the aforementioned information, the two new services, which were launched recently, enable their customers to top up their ASNB units via the Maybank2u portal and also at Maybank’s automated teller machines (ATMs), both of which can be executed in real time.
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In a significant scientific breakthrough in a space sector, Dr Sarah Kessans has developed hardware designed to operate autonomously in orbit, transforming the study of protein crystallisation in microgravity. This technology provides scientists on Earth with unprecedented insights into protein behaviour, with far-reaching implications for developing more effective medicines and vaccines, among other applications.
Minister for Space Dr Megan Collins lauds Dr Kessans’ research as an inspiring example of how space technology can drive innovation on Earth. This achievement follows the recent successful launch of MethaneSAT, a satellite designed to track and monitor global emissions from space, highlighting the significant potential of space technology in addressing some of the world’s most pressing challenges while bolstering our globally competitive space sector.
The MethaneSAT satellite will be equipped with a highly sensitive spectrometre that can detect concentrations as low as two parts per billion, and it will have high-spatial resolution coupled with a broad, 200-kilometre view path, allowing it to quantify even small emission sources over large areas.
Dr Kessans’ research culminated in successfully launching her hardware on a rocket from the Kennedy Space Centre at Cape Canaveral, USA. This mission also included protein experiments from leading New Zealand universities, including Canterbury, Otago, Victoria, and Waikato, showcasing the collaborative efforts of the country’s academic institutions in advancing space science and technology.
The launch of Dr Kessans’ project results from a strategic agreement between the Ministry of Business, Innovation and Employment (MBIE) and the US commercial space company Axiom Space. This partnership aims to facilitate New Zealand researchers’ advancement in space science and technology, fostering innovation and driving collaboration between academia, government, and private enterprise.
Dr Kessans’ project has also received government funding for further development through the MBIE-administered Endeavour Fund, highlighting the government’s commitment to supporting cutting-edge research and innovation in the space sector. This collaborative effort between academia, government, and private enterprise is a testament to New Zealand’s growing presence in the global space economy, positioning the country as a key player in space research and technology development.
Previously, New Zealand had collaborated with several countries, including Australia, to advance space research, as reported by OpenGov. The collaboration between SmartSat and the New Zealand Space Agency (NZSA) is an important development. The signing of a Memorandum of Understanding (MoU) between the two entities aims to accelerate the growth and technological advancement of the Australian and New Zealand space industries, marking a pivotal moment in the evolution of space exploration and innovation in the Australasian region.
This partnership is underpinned by a shared commitment to fostering innovation, driving research and development (R&D), and nurturing a skilled workforce capable of propelling technological breakthroughs in the space sector. The MoU, ceremoniously signed at the NZSA headquarters in Wellington, signifies a strategic alignment between SmartSat and NZSA to leverage their combined resources and expertise.
At the core of this collaboration, it is designated to support joint research initiatives in three key technological domains: Earth Observation, Space Situational Awareness, and Optical Communications. These areas represent the forefront of space exploration, offering immense potential to revolutionise humanity’s perception and interaction with the cosmos.
Minister Judith Collins, New Zealand’s Minister for Space, praised the new agreement as a testament to the enduring collaboration between Australia and New Zealand in space exploration. In a statement on her official website, she reiterated her commitment to fostering innovation and collaboration, recognising the transformative potential of space technology in addressing global challenges.
Minister Collins reaffirmed the government’s dedication to developing the country’s space sector, promoting innovation, and strengthening partnerships with the New Zealand research community, international space agencies, and commercial collaborators. These collaborative approaches underscore New Zealand’s commitment to advancing space science and technology to benefit society and the economy, paving the way for future breakthroughs in the field.
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Da Nang, a central city in Vietnam, is gearing up to bolster its semiconductor industry with a targeted focus on human resource development. The Vietnam–Korea University of Information and Communication Technology (VKU) recently launched a comprehensive programme aimed at training professionals in integrated circuit (IC) design.
The initiative underscores the city’s commitment to advancing its semiconductor sector. In 2024, Da Nang will concentrate on cultivating a pool of qualified teaching staff through collaborative efforts with the Viet Nam-Korea Information Technology (IT) and Communications University, the Institute of Information Technology under the Viet Nam National University – Ha Noi, and the Da Nang Semiconductor and Artificial Intelligence Centre for Research and Training (DSAC). Support from Synopsys Vietnam Company will further bolster these endeavours.
The training programme, spanning six months, comprises both theoretical learning and project-based training. It encompasses four modules covering Very-large-scale integration (VLSI) Design, SystemVerilog/Verilog/Very High-Speed Integrated Circuit Hardware Description Language, basic digital integrated circuits, and basic analog circuit design.
The inaugural training course for lecturers will host 25 participants selected from prestigious institutions including the Viet Nam-Korea Information Technology (IT) and Communications University, Da Nang University of Science and Technology, University of Technical Education, Duy Tan University, and FPT University. A significant highlight of the programme is the access granted to lecturers to Synopsys’ extensive library and teaching materials, enabling them to develop practical IC design curricula upon completion.
Huynh Cong Phap, Principal of VKU, emphasised the programme’s objective of equipping students with practical IC design skills to facilitate training deployment at universities in Da Nang. Additionally, the university plans to offer short-term training courses in semiconductor circuit design for junior and senior students pursuing majors such as computer engineering, technology, embedded systems and IoT, and technology information.
Speaking at the event, Ho Ky Minh, Standing Vice Chairman of the municipal People’s Committee, hailed the programme as a significant stride in the city’s strategy for high-quality human resource development. He commended the collaborative efforts between DSAC, VKU, Synopsys Group, and the Information Technology Institute under the Vietnam National University in swiftly launching the city’s inaugural IC circuit design instructor training course.
In line with the city’s ambitions, Ho Ky Minh, the Standing Vice Chairman of the People’s Committee of Da Nang, welcomed Susan Burns, the US Consul General in Ho Chi Minh City, expressing his aspirations for enhanced collaboration with the United States within the semiconductor industry.
Susan Burns lauded the programme as a testament to the robust cooperation between government bodies, private enterprises, and universities in nurturing high-tech talent in Vietnam. This collaboration aims to fortify Vietnam’s position in the global semiconductor supply chain. The United States acknowledges Vietnam’s pivotal role in fostering flexible semiconductor supply chains and extends strong support for the industry’s development in the country.
In tandem with the programme launch, the university unveiled the VKU – SSTH centre, dedicated to semiconductor circuits and smart technology. Equipped with 30 computers and proprietary circuit design software from Synopsys, the centre is poised to serve as a hub for training and research in semiconductor circuits and smart technology.
OpenGov Asia reported that Da Nang inaugurated the Da Nang Semiconductor and Artificial Intelligence Center for Research and Training (DSAC) in January this year, marking a significant stride in technological advancement. This initiative underscores Da Nang’s dedication to enhancing its capabilities in integrated circuit (IC) design and artificial intelligence (AI).
The decision to establish DSAC was announced on January 26 by Le Trung Chinh, Chairman of the municipal People’s Committee, highlighting the centre’s role in realising the city’s strategic objectives. DSAC is poised to engage in research, training, and technology transfer in microchips, semiconductors, and AI development, while also fostering international cooperation in these critical domains.
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Vietnam has emerged as a promising market in the global data centre landscape, with significant growth projected in the coming decade. According to the latest report from Viettel IDC, the country’s data centre market is forecast to reach a value of US$1.26 billion by 2030, with a compound annual growth rate (CAGR) of 10.8%. This projection underscores Vietnam’s increasing importance in the digital economy and its potential to become a key player in the data centre industry.
Despite its promising outlook, Vietnam’s data centre market currently lags behind its regional counterparts in terms of size. Compared to countries like Singapore, Malaysia, and Indonesia, Vietnam’s data centre market is relatively small. However, this is expected to change in the coming years as the country experiences rapid economic growth and invests heavily in digital infrastructure.
One of the key drivers of growth in Vietnam’s data centre market is the increasing demand for digital services and cloud computing. With the rise of e-commerce, digital banking, and other online services, there is a growing need for secure and reliable data storage and processing facilities. Data centres play a crucial role in meeting this demand by providing the infrastructure necessary to support these services.
Another factor contributing to the growth of Vietnam’s data centre market is the government’s support for digital transformation initiatives. In recent years, the Vietnamese government has prioritised the development of the digital economy as part of its broader economic strategy. This has included investments in digital infrastructure, as well as policies aimed at promoting innovation and entrepreneurship in the tech sector.
Furthermore, Vietnam benefits from a skilled workforce and relatively low construction costs compared to other countries in the region. This makes it an attractive destination for companies looking to establish data centre operations in Southeast Asia. Additionally, the government has implemented supportive regulatory frameworks to encourage investment in the sector, further stimulating growth.
Domestically, the data centre market in Vietnam is dominated by a few major players, including Viettel, VNPT, FPT, and CMC. These companies collectively hold approximately 97% of the market share, indicating a high level of concentration in the industry. However, there are still opportunities for new entrants, particularly in niche segments or specialised services.
Looking ahead, Viettel IDC predicts a significant expansion of Vietnam’s data centre market in the coming years. Plans are underway to build megacentres in major cities like Ho Chi Minh City and Hanoi, with an estimated total capacity of up to 450 MW. This represents a substantial increase from the current capacity and reflects the growing demand for data centre services in the country.
In addition to data centres, Vietnam’s cloud computing market is also experiencing rapid growth. While the market size is currently smaller than that of neighboring countries like the Philippines and Indonesia, Vietnam has the highest growth rate in the Southeast Asia region and ranks third in Asia overall. The projected growth rate of Vietnam’s cloud market over the next 5-10 years is expected to be around 19-20%, driven by increased adoption of cloud services by businesses and consumers.
Vietnam’s data centre market presents significant opportunities for growth and investment in the coming years. With supportive government policies, a skilled workforce, and increasing demand for digital services, Vietnam is well-positioned to become a major player in the global data centre industry. As the country continues to invest in digital infrastructure and technology, it is poised to emerge as a leading hub for data centre operations in Southeast Asia and beyond.
OpenGov Asia reported that Vietnam is rapidly becoming a key player in the global data center market, driven by factors like increasing digitalisation among SMEs, a tech-savvy young population, the rollout of 5G technology, and a rising demand for independent digital infrastructure and data sovereignty.
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Digital transformation has become a global imperative, with countries worldwide implementing various strategies to leverage digital technology for societal, economic, and governance improvements. Each country’s approach is tailored to its technological infrastructure, regulatory environment, economic priorities, and societal needs. This global transformation requires smart strategies, smart implementation, and a collaborative, outcome-oriented mindset.
In Thailand, for example, the government has embarked on a joint effort to advance the digital economy and society through initiatives like accreditation of government agencies’ curricula. Professor Wisit Wisitsaratha, who serves as a Permanent Secretary of the Ministry of Digital Economy and Society, has announced plans to publicise the outcomes of this project for 2023. This reflects Thailand’s commitment to equipping its government agencies with the skills to thrive in the digital age.
Mr Phuchapong Nodthaisong, the committee’s secretary-general for Digital for the National Economy and Society, revealed the outcomes of the 2023 curriculum accreditation operations, which aimed to certify 70 courses. The National Curriculum Committee (NCC) reviewed 73 courses from 18 institutions for accreditation, categorising 30 as essential and 43 as moderately important. The 177 courses were considered for certification from 2021 to 2023.
During the meeting, Mr Phuchapong Nodthaisong presented guidelines to promote and support government agencies in organising digital skill development training courses among government officials and personnel. These guidelines are designed to be practical and effective, with input from executives representing government agencies, the private sector, the business sector, and academia.
Professor Wisit Wisitsaratha highlighted that besides certifying more than 70 courses from the previous year, the Ministry of Digital Economy and Society has been following up on the results of course accreditation, with over 104 courses considered for their quality and standards. These courses cater to six groups of civil servants and government personnel: senior executives, division directors, policy and academic workers, service workers, technology operators, and other practitioners. The curriculum development standards include a mechanism for systematic monitoring and evaluation of performance.
Additionally, measures have been implemented to promote and develop the country’s digital workforce, aiming to raise their digital capability and potential. This includes the general public, students, labour groups, entrepreneurs, the business sector, and civil servants, who all require adequate digital skills to drive government agencies towards the digital government.
Mr Phuchapong Nodthaisong, Secretary-General of the National Digital Economy and Society Committee, emphasised that the NBTC has certified digital skills development courses for government agencies. Standards for curriculum development have been set alongside a mechanism for systematically monitoring and evaluating performance.
To support this, the NBTC has taken proactive steps to enhance the quality of these courses. They have established a cooperation network with recognised organisations in related fields. This collaborative effort ensures that the courses are developed and delivered in line with industry best practices and standards.
Additionally, the NBTC works closely with the Office of the Civil Service Commission and associated agencies, enabling them to align their efforts and resources and ensuring that the courses meet the needs and expectations of the civil service sector.
He further stated that the NDC has continuously held focus group meetings in the past to create guidelines for promoting and supporting government agencies in organising training for certified courses. These efforts include measures to promote and develop Thailand’s digital workforce under the project for managing and following up on the curriculum accreditation of government agencies.
These initiatives are integral to Thailand’s comprehensive strategy to cultivate a skilled workforce capable of propelling the nation’s digital transformation and enhancing its competitiveness in the global digital economy. Thailand aims to effectively leverage digital technology to improve its economy and society by equipping civil servants and government personnel with the requisite knowledge and skills.
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An internationally recognised card service company, with a significant presence in the digital payments domain, released insights shedding light on Vietnam’s evolving payment landscape. Through its comprehensive consumer payment attitudes study, the company, highlights a surge in cashless transactions among Vietnamese consumers, signifying a progressive shift towards embracing novel financial technologies.
According to the study’s findings, a staggering 56% of Vietnamese respondents reported carrying less physical cash than they did a year prior, indicative of a growing inclination towards digital payment methods. Notably, the younger demographic is leading the charge in this transition, with a striking 89% having seamlessly adopted cashless payment solutions.
Furthermore, the company delves into the prevailing trends shaping Vietnam’s burgeoning non-cash economy, notably highlighting the ascendancy of mobile wallets. Vietnam stands among the top Southeast Asian markets witnessing rapid mobile wallet adoption, serving as the preferred avenue for payments and substantially contributing to the digital finance sector’s growth. Remarkably, four out of every five Vietnamese consumers utilise mobile wallets, positioning the country as a frontrunner in mobile finance adoption.
In tandem with the surge in mobile wallet usage, real-time payments (RTPs) have gained considerable traction in Vietnam, underscoring the nation’s receptiveness to cutting-edge financial technologies. The unparalleled convenience and efficiency offered by RTPs have fueled further digitisation of the economy, with at least two in five consumers leveraging these services for various transactions, including cross-border transfers, peer-to-peer payments, merchant transactions, and bill settlements.
Additionally, the buy now, pay later (BNPL) service has emerged as a popular choice among Vietnamese consumers, offering flexible payment options and driving increased consumer engagement. The company’s strategic collaborations with leading Vietnamese retailers for its instalment solutions exemplify the transformative impact of such services in fostering financial inclusion and spurring business growth.
While credit cards may witness comparatively lower usage for wallet top-ups and funding, they remain the preferred choice for BNPL plans in Vietnam. The ease of use, coupled with incentives like free vouchers, rewards points, and transparent payment tracking mechanisms, have been instrumental in driving the adoption of BNPL offerings.
Vietnam’s ongoing cashless payment revolution not only presents unparalleled opportunities for economic growth but also fosters innovation, unlocking new avenues for both consumers and businesses in the transition towards a cashless society.
The Country Manager for Vietnam and Laos at the card service company emphasised the company’s unwavering commitment to driving innovation and enhancing digital payment experiences for consumers. The findings from their study corroborate the growing trend towards contactless transactions, evidenced by a significant 53% increase in contactless transactions made on their cards, accompanied by a 19% surge in purchases and a substantial rise in the total value of cross-border transactions.
Supporting data from the State Bank of Vietnam (SBV) further underscores the positive trajectory of non-cash payment and digital banking activities in the country. As of the end of 2023, individual payment accounts surpassed 182.88 million, reflecting a notable 21.8% year-on-year increase. In January 2024, non-cash transactions surged by 63.3% in volume and 41.45% in value compared to the previous year, with transactions through the internet and QR codes witnessing exponential growth rates.
OpenGov Asia reported on Vietnam’s strides towards a cashless society, attributing the momentum to government policies favouring digital payments. Increased online transactions fuel competition among tech firms, advancing Vietnam’s digital economy. A survey showed that 43.8% of sellers accept bank transfers, and 15.3% use VietQR codes, indicating wide digital payment adoption.
Encouraged by these trends, the SBV continues to advocate for digitalisation within credit institutions, fostering collaboration across sectors to expand the digital ecosystem, while concurrently refining the legal framework, mechanisms, and policies governing non-cash payments.
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In a bid to tackle the growing menace of digital crime and leverage technological advancements to bolster law enforcement efforts, the Royal Malaysia Police (PDRM) has unveiled plans to establish a new department dedicated to cyber technology. The announcement was made by Inspector-General of Police Tan Sri Razarudin Husain during the 217th Police Day Commemoration Celebration 2024 held in Kuala Lumpur.
In his address, Tan Sri Razarudin highlighted the need for PDRM to adapt to the changing landscape of crime, which has become increasingly complex due to rapid advancements in digital technology. He emphasized that the proliferation of digital crime poses significant challenges to law enforcement agencies worldwide and requires proactive measures to mitigate its impact on society.
The proposed cyber technology-based department aims to address these challenges by focusing on the investigation and prevention of digital crime, as well as the development of strategies to combat emerging threats in the cyber domain. By harnessing the power of technology, PDRM seeks to enhance its capabilities in detecting, investigating, and prosecuting cybercriminals while safeguarding the digital infrastructure of the nation.
Tan Sri Razarudin underscored the importance of government support for this initiative, emphasising that the establishment of the new department would enable PDRM to operate at its maximum potential in combating digital crime. He expressed hope that the government would consider the proposal favourably, recognising the critical role of law enforcement in ensuring the safety and security of the country’s digital ecosystem.
The decision to create a specialised department reflects PDRM’s commitment to staying ahead of the curve in the fight against cybercrime. With the rise of digital technology revolutionising various aspects of daily life, including communication, commerce, and entertainment, criminals have also capitalised on these advancements to perpetrate a wide range of illicit activities online.
From cyber fraud and identity theft to hacking and online harassment, the spectrum of digital crimes continues to evolve, presenting new challenges for law enforcement agencies worldwide. In response, PDRM aims to equip its officers with the necessary skills and tools to effectively combat these threats and protect the interests of the public in the digital age.
The establishment of the cyber technology-based department underscores PDRM’s proactive approach to addressing the challenges posed by digital crime. By investing in specialised training and resources, the police force aims to build a team of experts capable of navigating the complexities of the cyber domain and staying abreast of emerging trends and tactics employed by cybercriminals.
Moreover, the initiative reflects PDRM’s recognition of the interconnected nature of modern crime, where traditional and digital forms of criminal activity often intersect. By integrating cyber technology into its law enforcement strategies, PDRM seeks to foster a holistic approach to crime prevention and detection, ensuring that no avenue for criminal exploitation goes unchecked.
The establishment of a new department focused on cyber technology represents a significant step forward for PDRM in its efforts to combat digital crime. With the support of the government and a dedicated team of professionals, PDRM is poised to harness the power of technology to safeguard the digital well-being of the nation and uphold the rule of law in the digital age.
Malaysia is taking proactive steps to ensure cyber resilience amidst the evolving digital landscape, with a focus on combating rising threats like fraud and ransomware. The government has enacted legislation to promote cybersecurity, including laws governing data protection and electronic transactions.
The Legal Affairs Division, led by Minister Datuk Seri Azalina Othman Said, is drafting the Digital Safety Bill 2023, aligning with Prime Minister Datuk Seri Anwar Ibrahim’s vision and highlighting the importance of proactive legislation to address cyber threats effectively.
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In a world where addressing climate change has emerged as one of the defining challenges, innovation and digital transformation have the potential to combat climate change and accelerate the transition to a sustainable future.
Government officials, academics, and business leaders gathered at the SGFIN Sustainability Summit in Singapore to delve into the intersection of technology and finance, aiming to combat climate change and expedite the shift towards a sustainable future.
Deputy Prime Macinaister Heng Swee Keat, in his opening remarks, underscored the urgent need for collective action to address climate change, emphasising its global repercussions. From extreme weather events to rising sea levels, the impacts of climate change are felt across borders, disrupting economies and threatening livelihoods. In Singapore, where temperatures have risen steadily over the past four decades, the imperative for action is particularly acute.
Singapore has positioned itself as a leader in sustainability, committed to achieving net-zero emissions by 2050 outlined in the Singapore Green Plan 2030. This comprehensive roadmap encompasses a wide range of initiatives, including increasing the deployment of solar energy, enhancing green infrastructure, and implementing measures to reduce water consumption and waste generation.
GovTech, as the public sector’s centre of excellence for info-comm technology and smart systems (ICT&SS), is spearheading efforts to decarbonise public sector technology as part of the nation’s commitment under the Singapore Green Plan 2030.
Among GovTech’s initiatives are ensuring environmental consideration throughout the lifecycle of products and services with the GovTech Sustainable Digital Value Chain. This involves assessing and minimising environmental impacts from creation to disposal.
Additionally, GovTech provides energy-efficient data centres and cloud hosting options certified with Green Mark Platinum to meet the consolidated needs of the entire government more efficiently through its Green Government Hosting initiative.
Key initiatives include offering digital alternatives to physical transactions such as tele-conferencing and digital business cards through the Digital Workplace, centralising energy-efficient data centres to support agency server room consolidation, and developing secure government cloud solutions to accelerate the adoption of modern cloud capabilities through Government Hosting Consolidation and Cloud Migration.
GovTech is also actively exploring Green IT tools to augment software development processes and reduce carbon emissions with its Green Software initiative. Furthermore, GovTech is developing an Open Digital Platform for smarter district planning in the Punggol Digital District. This platform is expected to reduce energy and water consumption by up to 30% compared to the national average, showcasing the country’s commitment to driving sustainability through technological innovation.
Deputy Prime Minister Heng highlighted the importance of embedding sustainability across all sectors of the economy, noting the role of initiatives such as mandatory climate-related disclosures for listed companies in driving progress.
Finance plays a pivotal role in driving the transition to a low-carbon economy, serving as a critical enabler of climate action. Deputy Prime Minister Heng outlined Singapore’s efforts to mobilise financial resources for green investments, citing initiatives such as the Finance for Net-Zero (FiNS) Action Plan and the Singapore-Asia Taxonomy for Sustainable Finance.
These initiatives aim to provide investors with clarity and transparency regarding sustainable investments, thereby reducing the risks of greenwashing and facilitating the flow of capital towards climate-friendly projects.
Deputy Prime Minister Heng outlined strategies to mobilise finance for climate action, emphasising talent pool enhancement in sustainable finance, robust regulatory standards, and urging the use of venture capital for innovative climate solutions, aligning with Singapore’s research and innovation focus.
As nations continue to exchange ideas and forge partnerships, collaboration is key, paving the way for transformative change and a more sustainable future powered by innovation and financial ingenuity. It is through such collective efforts that the world can hope to overcome the challenges of climate change and create a better world for future generations.