 Welcome to ITU Telecom World 2017 here in Busan in the Republic of Korea. I'm very pleased to be joining the studio right now by Yasmin Mahmoud, who is CEO of the Malaysian Digital Economy Corporation. Yasmin, thank you very much for being with us today. Thank you, it's my pleasure. Now I'd like to start off by talking about smart digital transformation, which is the theme for this year's ITU Telecom World. What does it mean to you? Well, MDAC, as an agency, as a government agency to develop or to champion the digital economy footprint of the country. This is a very important agenda, not only for Malaysia, but all countries. And it's about ensuring that we are able to feature proof, in a way, our nations in the world of where digital innovation is becoming so destructive. So I think embracing digital innovation for the social and economic benefit of the country is no longer a question of should we or why. It's a question of how do we do it. And in terms of smart opportunities, what smart opportunities you see in the next five years and what are the key challenges in your opinion? I think everything in the world now is able to become smart, you know, from a smart city, smart agriculture, smart education. So the digital innovation as a fundamental layer has the ability to really transform and even disrupt existing industries and business models and companies. So what's important for a country is to ensure that we've got a couple of layers, a few fundamental layers. Of course, number one is the infrastructure, the telco infrastructure. The country like Malaysia is very fortunate in the sense that we've got a 70% broadband infrastructure already in place or access or penetration. We need to ensure that the policy layer, you know, policy and regulations is not only about regulating but it's also about enabling and finding that right balance between letting innovation fly and ensuring, you know, the part of security and all that is being taken care of. But I think there are a few key, like Malaysia for instance, there are two key focus that we're putting in right now is to ensure that our talent, our future talent especially are not only consumers of digital innovation but also can be innovators and producers of digital innovation. So how do we shift that mindset? So that's one key shift and agenda that we have to champion. And the other one is around enabling and encouraging the startup ecosystem because we know that in the world of disruption and innovation it's not the large companies. You know, we don't put the money on the large companies with a lot of legacy and, you know, with a lot to lose but you have to put, you know, the bet on these young people with creativity, with a passion purpose driven and they are the ones that will be able to push the envelope and this will be the people, you know, the job creators of the future will be in the startup ecosystem. And in terms of your own role, how can the Malaysia Digital Economy Corporation promote digital financial inclusion, for example, for unbanked people and why is it important to do so? Financial inclusion is an important agenda for ASEAN in particular. The Asian Development Bank has stated that addressing financial inclusion could add between 9% to 14% of GDP in a country and in countries like Cambodia for instance the figure could go as high as 32% because it's only 16% of the population in Cambodia that has access to formal savings and financial services. So it is not only about MDAG, you know, the collaboration amongst all the stakeholders in the country towards financial inclusion is very important. Malaysia for one, we are very lucky to have a 92%. So it's not about an issue of unbanked in Malaysia and 92% of our adult population already have access to a formal savings account or some level of deposit, you know. But for us, I think the issue is more around underbanked and two particular communities that are really important to be brought up, the one community is what we call the 40%, the bottom 40% of our income stratification and the other big one, the other big community is the micro SMEs and I think areas of micro financing, micro loans would be a very important innovation that can make impact to this community. Because micro SMEs are of course a large part of the Malaysian economy. Absolutely, micro SMEs, well SMEs in particular and especially micro SMEs make up a big population of the number of companies, 97%. And this is across the board in ASEAN, it's very, it's in this range but the percentage of GDP contribution is only at the 40% range on average in ASEAN. So unleashing this group of communities will be a huge economic impact to the country. That would be stunning. And in terms of this event itself, I mean you hear it at ITU Telecom World 2017, your first time in Busan here but I just wanted to find out from you what's the value of attending events such as this? You know it's my first time not only in Busan but also it's my very first ITU event. So it's really a massive coalition of all the nations so it's a lot of learning and I think this has got ITU has a very strong potential to really aggregate all the fundamentals of telecommunications and the regulations around cybersecurity and so on. But I do, you know my observation is that I think it's not about just the regulations. Yesterday I was part of a panel to talk about digital resilience and there was a lot of discussion and energy around how do you start regulating. And I think it's important for us to find the balance. The point I was making was to find the balance. You know you don't discipline a baby before it's grown. So at what point do you start disciplining and putting in regulations at what point do you let it just grow and let innovation soar to whatever it can. So I think finding that balance is really crucial and I hope that there is enough tension between pushing the envelope as regulating innovation. So that was the main message that I wanted to give to ITU. That's a good metaphor, the parenting, the baby. I mean we're very much here in its infancy but there's a lot of energy going on around here which I'm sure we can all tap into. Well thank you very much for joining us in the studio today and we wish you the very best and enjoy the rest of ITU Telecom World. Thank you. Thank you. Thank you very much.