Digital economy key to economic recovery: Experts

With digital economy being increasingly perceived as the way to overcome devastations caused by Covid-19, experts say that it is also important to promote regional integration in this regard.

Representatives and thought leaders from governmental, industrial and academic sectors across Asia Pacific joined a virtual conversation organised by Huawei to explore the multiple facets of digital economy, from a market, technology, inclusiveness and sustainability perspective recently.

Attending a webinar titled “Accelerate Digital Economy for Inclusive Integration in Asia Pacific – Connecting Digital Industries in Pandemic”, speakers called for leveraging digital opportunities to build an inclusive ecosystem which is particularly important while still combating the pandemic.

Ambassador of Indonesia to China, H.E. Djauhari Oratmangun pointed out in his keynote speech that a new digital economy is shaping the region. “The digital transformation has been significantly accelerated during the pandemic, speeding up business changes. Indonesia endeavors to expand digital economy to achieve social recovery and digital transformation. I would love to witness how Huawei adds value in the face of fast-growing digitalisation,” he said.

Based on digital knowledge and infrastructure, the digital economy has powered a growing proportion of regional GDP and boosted resilience amid the pandemic. ASEAN predicts the digital economy will contribute 1 trillion US dollars to regional GDP by year.

Countries from the region have released future-oriented roadmaps on removing trade barriers, improving digital coverage and ensuring ubiquitous access to digital services to facilitate the implementation of the digital economy.

“The development of digital economy ecosystem is a process that involves active participation of multiple stakeholders including those from the private sectors. We welcome the initiative of Huawei to organize this dialogue to practically advocate the process,” said Dr. Le Quang Lan, Assistant Director for ICT and Tourism Division, ASEAN Secretariat, when referring to enabling a digital economy ecosystem to accelerate social recovery and regional integration.