2018 was the year e-commerce established itself as one of the region’s fastest growing sectors. Over the past three years, it has been the most dynamic sector of the digital economy accounting for close to US$11 billion in gross merchandise value (GMV) in 2017, exceeding US$23 billion in 2018.

As an economic bloc, ASEAN is the fifth largest economy in the world. However, this is not reflected in the association’s adoption of digital transformation.

Indonesia is one of the region’s best success stories. Despite having faced economic turmoil in the 1997 Asian Financial Crisis under the authoritarian Suharto regime, Indonesia is today one of the fastest growing economies in the world. The main focus of its economy has been the export of goods such as textiles, automobiles, electrical appliances, and oil and gas.

Vietnam’s strong economic growth in recent years has led to the flourishing of the nation’s digital economy. The country’s economy in 2017 was deemed to be one of the best performing in the region.

The digital economy stands to change the way we look at taxes. In Malaysia, the previous National Front-led government was mulling the decision to raise revenue by taxing the digital economy.

As an economic bloc, ASEAN is the fifth largest economy in the world. However, this is not reflected in the adoption of digital transformation.

Collectively, the Association of Southeast Asian Nations (ASEAN) is ranked third in terms of population, sixth in gross domestic product (GDP) and fourth in trade value. In the recently concluded ASEAN Economic Ministers’ (AEM) Meeting, it was announced that the combined GDP of the association reached US$2.8 trillion in 2017, a 5.3 percent growth year-on-year, up from 4.8 percent in 2016. Growth is expected to remain stable at around 5.2 percent in 2018 and 2019.

Singapore has set targets to reduce cash and cheque usage as it prepares to allow companies to use its digital payments service in a move towards a digital economy.Cheques will no longer be in use by 2025 while cash withdrawals from automatic telling machines will come down significantly, Education Minister Ong Ye Kung, who sits on the Monetary Authority of Singapore board, said in a speech Wednesday at the annual Association of Banks dinner in the city-state.

Wawasan Brunei 2035 is a developmental framework that was first formulated in 2004 by the country’s monarch, Sultan Hassanal Bolkiah. Also identified as Brunei Vision 2035, this project aims to propel the country to greater heights on many fronts. When measured by the highest international standards, Wawasan Brunei 2035 looks to build a citizenry that is not only well-educated but highly-skilled.

Southeast Asia is catching the video streaming bug as video streaming services proliferate in the region. Gone are the days where people would go to video or DVD rental shops to get the latest movies. Even traditional TV is on the wane now as video streaming allows users to choose whatever they want to watch anytime as opposed to having to wait for a favourite programme to air at its allocated time slot.