Agile regulation of trade and industry
Denmark has a positive approach to technology. Technology
is used as a tool for creating a better society for the
individual citizen and the business community. For example,
technology has made digitisation of public services possible,
which in turn has made administrative processes smoother
to the of benefit trade and industry. Digitisation makes it
very easy and straightforward to establish a business in
Denmark. Meanwhile, existing rules and regulations are
not always designed to accommodate the way in which
new digital technologies and business models can create
new values for individual companies and society. Therefore,
rules will sometimes need to be modernised to conform
with the digital future.
It is highly prioritized by the Danish government to ensure
that the regulation is modernised so Denmark can attract
and retain innovative companies, who are interested in
developing new technology and digital business models in
Denmark. To this end, the Danish government has set out to
make digitisation-ready legislation. As part of this initiative,
the government has reached an agreement on “Simpler
rules, less bureaucracy – legislation in the digital reality”.
The agreement involves six principles for “clear legislation
on digitisation”, which the government is obliged to follow.
With these six principles, future legislation will contribute
to a more efficient public sector administration and a digital
case processing at individual level. There to, the Danish
government has set to establish a one point of entry to
the public sector for businesses with new digital business
models. All the same, agile regulation on trade and industry
will ensure better opportunities for businesses to test new
products and business models.
Strengthened cyber security in companies.
With the growing digitisation of the Danish and Indian
society, there is a need for the digital security of society
to be stronger. Over a short period of time cyber threats
against citizens, businesses, and public authorities have
become more frequent and ever more advanced.
Trust in the government and companies is vital for a
digital society like Denmark and with the amount of data,
companies are processing today, they must acknowledge
the risk of and be prepared to face cyber-attacks. If they
fail to do so, trust in digital Denmark may be weakened. It
is expected that IT security and responsible processing
of data, will become an important competition parameter
in the future. All the same, cyber-attacks can have major
economic consequences for companies, citizens and
India and Denmark working
together for a digital future
In November 2017, YES BANK, India’s
fifth largest private sector bank, signed
a Memorandum of Understanding (MoU)
with Innovation Centre Denmark India
(ICDK India, a partnership between the
Ministry of Foreign Affairs of Denmark and
the Danish Ministry of Higher Education
and Science). The MoU was signed with
the purpose of bringing FinTech innovation
and start-ups from Denmark to India
and vice verca. The MoU will enable the
parties to mutually exchange expertise and
knowledge, as well as collaborate in joint
initiatives in respect of the development of
the FinTech ecosystem in Denmark.
With the MoU, India and Denmark took
an important step towards creating a
framework for collaboration and co-
operation within the digital future.
society. Therefore, the Danish government will support IT
security in Danish businesses by making it easier to report
IT security incidents via a single digital point of entry, and
providing tools for the companies to equip them better for
the rising threats.
Consequently, the Danish government has launched a
“National Strategy for Danish Cyber and Information
Security”. With 25 concrete initiatives, the strategy will
strengthen government security, improve the competencies
of the population, and ensure far more coordinated efforts
and initiatives across authorities.
In November 2017, The Danish Minister for Public
Innovation, Sophie Løhde, visited New Delhi in order to
attend the Global Conference on Cyberspace. The visit
gave the minister great inspiration for the above-mentioned
national strategy for Danish cyber and information security,
which she presented together with the Minister for Defence,
Claus Hjort Frederiksen, and the Minister for Economic and
Business, Brian Mikkelsen, in May 2018.
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