KUALA LUMPUR, Oct 21 (NNN-BERNAMA) — The Asian Development Bank (ADB) has urged Southeast Asian countries to expand investments in digital infrastructures to ensure equitable access to technology as economies recover from the COVID-19 pandemic.
President Masatsugu Asakawa said the region must close the digital divide and expand existing investments in digital infrastructure by building further and higher quality mobile broadband infrastructure and ensuring affordable internet access and coverage.
“These steps can also enhance access to basic social services such as health and education and access to financial services. These investments will better equip countries to address the worsening income inequality and disparities in opportunities brought about by the pandemic,” he said in a keynote address at ADB’s first Southeast Asia Development Symposium Wednesday.
The symposium aimed to provide government officials and other stakeholders with a wide range of cutting-edge perspectives on critical development issues, ADB said in a statement.
As countries in the region continue to grapple with COVID-19 response, this year’s inaugural event is focused on providing knowledge support to countries as they recover from the pandemic’s economic and social impacts.
In his address, Asakawa also highlighted five key policy areas that can support developing economies in Southeast Asia as they return to a path of sustainable growth, including facilitating a green and resilient recovery by promoting investments that drive economic activity toward low-carbon and resilient practices.
He also called on the countries to address regional disparities and ensure more equitable access to technology, including an expansion of investments in digital infrastructure to close the “digital divide” while addressing cyber security.
The third key area is to strengthen regional cooperation and integration by improving cross-border digital connectivity, e-customs systems, and electronic cargo tracking systems.
He said the region should also deepen institutional capacity for mobilising domestic resources to finance public services, while ensuring debt sustainability.
Last but not least, Asakawa said, the countries should incubate, develop, and congregate small and medium-sized enterprises with entrepreneurship and technology, supported by an aggregated financial, academic, and business ecosystem to help set the stage for tech-based growth.
As digitalisation has become an integral part of longer-term economic recovery, ADB said participants discussed how to boost economic recovery through digital innovation, how to foster an environment for technology adoption, and how to leverage technology for health care and remote learning.
“Participants also explored ways to facilitate a green and resilient recovery by promoting climate and environmentally friendly investments.
“Intelligent transportation systems, for example, can support real-time traffic control and transport routing systems to manage congestion and reduce air pollution, while smart-grid systems are helping secure a more efficient energy supply for a green recovery,” it said.
The one-day virtual event attracted more than 1,700 high-level government officials, private sector representatives, and other stakeholders from 57 countries.