Comparative Analysis of Digital Economy in Lao PDR and Malaysia: An Overview

Abstract

Widespread use of the internet and the development of high-speed computing have led to the emergence of a new economic structure known as the "digital economy." In ASEAN, the digital economic revolution has had tremendous growth rates. According to Think with Google, the Southeast Asian (SEA) internet economic worth increased by a staggering 40% between 2018 and 2019. Lao PDR and Malaysia as countries in ASEAN are facing a challenge on digital economy adoption. This paper analyses an overview of the digital economy in Lao PDR and Malaysia by 2019-2022. The paper methodology is based on a qualitative analysis of six major components: connectivity, privacy and cybersecurity policies, transformation, creation, and regional collaboration. Data collection gathered by literature review on relevant studies. The results of the studies showed a huge gap between Lao PDR and Malaysia in digital economy adoption according to mentioned benchmarking components. Infrastructure, regulation and cybersecurity are the main obstacles in implementing the digital economy in Lao PDR whereas Malaysia has yielded more results with tremendous growth in the digital economy sector on the contrary. The gap between Lao PDR and Malaysia has ignited urgent regional collaboration between both countries