DATA protection will become increasingly critical for governments, businesses and individuals as economic activity becomes more digital and interconnected.

Communications Minister Datuk Fahmi Fadzil (picture) said public concerns over data leakages, including within government agencies, were justified, noting that the handling and protection of data would pose growing challenges in the years ahead.

“I think these kinds of concerns are very warranted. I cannot speak for those agencies. But how we handle data and how we protect data will be increasingly important in the years to come,” he told Bernama.

Fahmi described data as a key economic asset, warning that weak protection frameworks could have serious consequences.

“Data is the new oil. It’s the currency that will keep the wheels of the economy rolling. And if we are not able to protect our data, it will be a problem for us,” he said.

He stressed that robust safeguards, including secure encryption, were essential to prevent risks to public trust, economic activity and national interests.

“Data must be properly protected and securely encrypted. Otherwise, it will pose a serious challenge for governments, people and businesses,” he added.

Fahmi’s remarks come amid heightened global focus on data governance. The World Bank said in a recent blog post that the future of data protection extends beyond privacy concerns to enabling responsible data-sharing that supports economic and social development.

According to the World Bank, strong regulatory frameworks ensure that the right data is shared with the right stakeholders for the right purposes, including in sectors such as healthcare, where privacy-preserving mechanisms allow cross-border research collaboration while safeguarding patient confidentiality.

The bank also added that many countries are increasingly mandating domestic data storage in response to concerns over national security and the protection of citizens’ personal information.