How can governments balance the need for regulatory measures to protect public safety and well-being with the importance of fostering innovation and economic growth, while still maintaining trust and credibility with stakeholders and the public?

Governments can balance the need for regulatory measures by implementing a risk-based approach that focuses on high-impact areas while allowing flexibility for innovation. They can also engage with stakeholders and the public to gather feedback and ensure transparency in the decision-making process. By continuously evaluating and updating regulations to reflect changing technologies and societal needs, governments can maintain trust and credibility while supporting economic growth and innovation.