July 24, 2024

The Association of Southeast Asian Nations (ASEAN) is leveraging the imperative of digital transformation and seizing the opportunities presented by digital technologies to boost the economy and recover from the Covid-19 pandemic.
Looi Teck Kheong, senior economist and head of Competition, Consumer Protection and IPR Division of the ASEAN Secretariat, said the accelerating inclusive digital transformation, which includes the micro, small and medium enterprises (MSMEs), is an integral part of ASEAN strategies for future recovery.
He said the use of digital technologies during the pandemic from online shopping to pivot working has enabled countries to unleash improvements of ecommerce and online transactions and reach more markets.
Kheong said governments can support industries to promote digital technology tools, ecommerce, and official websites, create mobile digital payment systems, and develop digital learning and systems to train the employees, among others.
He said governments can support MSMEs as they lack funding to build digital capability.
“MSMEs cannot build digital platforms. Therefore the government can help them build it. And MSMEs need the government to facilitate connection as well between website and payment system so integrated ecommerce and payment system will provide convenience to customers, enhancing transactions intended,” he added during the virtual forum on competition in developing countries.
Kheong said speeding up digital transformation is among the five-pronged strategies identified in the ASEAN Comprehensive Recovery Framework (ACRF), which was developed to help ASEAN recover.
Under the ACRF, one of the region’s key priorities is providing a digital platform and related policy for promoting MSMEs digital upskilling and providing digital technology and fintech to access markets.
ASEAN aims to support the integration of MSMEs into global value chains, including establishing mechanisms to help these firms increase exports. – Press release