Gov’t to set up a 'digital identity of enterprises' platform

The cost for its establishment will be about $300m.

The government has rolled out several digitalisation initiatives in the 2024-25 budget, including the launch of a “digital identity of enterprises” platform.

According to Financial Secretary Paul Chan, the platform will act as the business version of iAM Smart. 

The platform will enable authentication of identity and verification of signature for enterprises using electronic government services or conducting online business transactions in a secure, convenient and efficient manner. 

Chan said building the platform will cost about  $300m. The government will roll out the platform in phases from the end of 2026 onwards. 

To further promote digitalisation, the government will establish a Digital Policy Office and task a commission to study the development of a data trading ecosystem.

The government will also allocate $100m over the next three years to the Social Innovation & Entrepreneurship Development Fund to provide people aged 60 and up with digital training courses and technical support.

The first batch of projects will commence in 4Q24 and benefit at least 50,000 elderly.