Governments need support in defining laws but business is not interested in data privacy regulations. As soon as clear regulations define the ownership of data they will not be able to use most of the data anymore.
Business is interested in clear regulations because this guarantees a secure legal foundation but politicians do not give this topic enough priority.
Data privacy is already globally defined but l aws are country specific. It will take time until all countries have established binding laws.
Different societies and cultures have different values and thereforee a different understanding of privacy. It is difficult to define globally accepted regulations and laws.