Despite the COVID-19 crisis, ASEAN is one of the fastest growing regions in the world, said Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah during the ASEAN Business and Investment Roundtable 2021 on Fintech and Financial Literacy held virtually yesterday.
The minister also said, Bain and Company’s e-Conomy Southeast Asia report noted that the Covid-19 pandemic has led to big shifts across Southeast Asia, highlighting that 40 million people came online for the first time last year, bringing the total number of Internet users in the region to 400 million.
“The Economic Research Institute for ASEAN and East Asia points out that ASEAN consumers are global leaders in terms of e-wallets and digital payment adoption.
“This offers great opportunities but also challenges as we must keep inclusivity in mind and ensure that with the rapid rate of technological change it does not leave anyone behind.
“Financial literacy plays a critical role on inclusivity.
“Not only is it important to understand money and the changing nature of transactions, both for personal and business purposes but digital financial literacy has become essential if we are to achieve our goals of ensuring that everyone can benefit from the advancements in fintech.
“ASEAN governments are continuing to meet virtually to discuss what steps can be taken to help our region continue to be vibrant as we draw closer to the Summit in October,” said the minister.
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September 10, 2021
