Page 17 - SAMENA Trends - November 2020

SAMENA COUNCIL ACTIVITY SAMENA TRENDS

Key Insights from SAMENA Accelerator on Digital Economy

• The prevailing economic transformation is foremost
driven by the ability to collect, use and analyze massive
amounts of data, generated from the digital footprints of
personal and social and business activities taking place
on various digital platforms. This "digital economics"
is driven by digital platforms that have emerged around
the world, disrupting traditional economic, business,
social and governance activities.
• And yet, almost half the world is still not connected to the
Internet. This major systemic weakness has been, and
may continue to be, exacerbated due to lack of adequate
policies, governance and regulatory frameworks that are
needed to ensure that the Digital Economy grows and is
made sustainable.
• The amount of very large-scale rapid adaptation that
has already taken place over the last 10 months has
been significant, with people and businesses focusing
on rapid digital transformation. This has accelerated
the process that was already underway in our societies
and economies and it is clear to everyone now that the
future of nations will be mediated through digital means.
Thus the impact of not having access to broadband
connectivity must be addressed as that would have
significant impact on social cohesion and social order.
• One of the main responsibilities of the Policymakers is
to create enabling environments and build necessary
infrastructure that can encourage PPP, effectively
implement collaboration and ensure ready access to
digital technologies for all.
• For countries with high young population, there is a need
to create jobs and the question remains how the Private
Sector and the Public Sector will create opportunities
for them over the next few years. The way forward
is to focus on diversity, build ICT talent, and mandate
adoption of digital technologies of the future.
• The process of transforming countries to flexible and
inclusive digital economies requires setting long-
term developmental priorities. This includes ensuring
affordable access to high-speed internet services,
achieving wide-spread adaption of electronic payments,
providing digital governance services, improving access
to data, and developing skills of the population. This
also includes the creation of digital opportunities for
persons with disabilities.
• Multi-stakeholder collaborative efforts are required
to help align needs and ways forward on the complex
aspirations and challenges associated with the
Digital Economy, and to position regulatory and policy
mindsets in incentivizing Connectivity, overcoming
Digital Gaps, and fostering Meaningful Innovation. There
is already policy-level consensus within the region that
the Digital Economy needs to be set on an accelerated
path; it should be made sustainable; and it should be
measureable. Dr. Verena Weber
Head - CISPU, OECD, France

17 NOVEMBER 2020