To drive growth in the region, the governments of Cambodia, Laos, Myanmar, Thailand and Vietnam (CLMVT) should aim to improve internet infrastructure, a seminar said.
"Digital technologies allow people to access private and public services and ensure that growth is evenly distributed," Mara K Warwick, the World Bank's Country Director for Brunei, Malaysia, the Philippines, Thailand, East Asia and the Pacific was heard saying at the CLMVT Forum 2018: CLMVT Taking-Off Through Technology held in Bangkok on Thursday.
Citing the World Bank's World Development Report 2016 titled Digital Dividends, Ms Mara stated that the digital economy will ensure prosperity for every person in the region.
Although 45% of the world population is now online, digital assets are still unevenly distributed, she said. Therefore, it is necessary to strengthen infrastructure and promote the digital revolution.
Governments should have in place institutions that are capable of tailoring effective regulation and enforcement to ensure competition. This will allow citizens to leverage their skills and meet the demands of the new economy, she said.
Since the digital economy is presently limited to a concentrated market, the government should promote competition.
Vishal Agarwal, a partner at McKinsey & Company, said even though regionalisation has helped facilitate connectivity in CLMVT countries over the past 15 years, the region still faces challenges connecting all of its regions to the internet.
Prime Minister Prayut Chan-o-cha, delivering a keynote speech during the opening ceremony, urged the public and private sectors to utilise digital technologies to boost the efficiency of public services and businesses in order to increase competitiveness in Thailand and across the region.
The PM stressed that digital transformation was a key component to growth.
