Enhance digital economic platform for boosting State economy
ALL global nations are prioritizing digital transformation to modernize their economic systems by integrating advanced information technology. This shift aims to enhance various sectors, including administration, infrastructure, social services, education, and trade, aligning them with the global value chain to boost the digital economy.
The backbone of a digital economy is a robust information and technology network, where fibre internet plays a crucial role. While Myanmar has achieved 90 per cent coverage with mobile broadband, only 1.6 million people use fixed broadband. Therefore, expanding fibre internet access to both urban and rural areas is essential.
Developing skilled human resources is vital for the growth of the digital economy. Students at technological universities, colleges, institutes, and schools across Myanmar should be encouraged and incentivized to participate actively in the State’s digital transformation processes. The efficient use of the internet in education, health, and the economy, beyond mere social networking and entertainment, is crucial for equipping people with technological skills and new techniques to be able to broaden their scope of knowledge for analyzing the economic system in a point of digital technological view.
Successful digital trade and online businesses are pivotal to the digital economy. This requires enacting appropriate laws and regulations to prevent unacceptable activities, such as online scams. Participants in the digital economic platform need to be vigilant against such scams. Businesses that effectively utilize social networks and websites for advertising can enhance their operations, leading to greater success and contributing significantly to the State’s economy.
The government is currently focusing on digital economic development to achieve its economic objectives. The World Trade Organization (WTO) and ASEAN countries are negotiating online business and digital economic commitments. Meanwhile, Myanmar is striving to finalize and seek approval for the Myanmar Digital Economy Roadmap 2023, aligning with these commitments.
The COVID-19 pandemic underscored the importance of digital technology, a trend that continues in the post-pandemic period. Myanmar’s businesspersons should strive to penetrate international markets with high-quality products from micro, small, and medium-sized enterprises by leveraging modern digital technology and innovative strategies.
Myanmar’s path to a thriving digital economy involves expanding fibre internet access, nurturing skilled human resources, enacting protective laws for digital trade, and aligning with international digital economic commitments. The strategic application of digital technology across various sectors will not only modernize Myanmar’s economy but also enhance its global competitiveness.
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