The Next Silicon Valley
The Next Silicon Valley
What the Numbers Say
75%
Percentage of Southeast Asia’s entire population (589 million) who are online. This includes 40 million who only started using the internet for the first time in 2021.
350 million
Number of Southeast Asians who are digital consumers. Since the pandemic began, it increased by 60 million.
Big Questions
-
“How do businesses stay competitive in a time of disruption?”
The world is experiencing unprecedented levels of disruption. The new economic climate challenges businesses to be a part of a dynamic ecosystem where partners possessing different skills, capacities, networks and innovations create a powerful multiplier effect.
Esteemed academics Professor Arnoud De Meyer and Professor Peter Williamson co-authored a book entitled ‘Ecosystem Edge’ that illuminates different ways companies can pursue the ecosystem strategy. The book contains five examples to stay competitive in a time of disruption:
- Build your credibility.
- Attract foundation customers for a new ecosystem.
- Develop a roadmap with signposts for partners to make strategic contributions can help make this clearer.
- Collaborate with partners with their ecosystems.
- Leave old paradigms behind since an effective ecosystem is often decentralised and dynamic.
-
“How do open trade policies enable global growth?”
Trade and market openness have historically gone hand-in-hand with better economic performance in countries at all levels of development. Despite growing tensions of the rise of nationalistic goals, such as in Russia, open global trade policies are crucial to lifting living standards, protect human rights, contribute to peace and mitigate climate change.
The policies that make an economy open to trade and investment with the rest of the world are important for sustained economic growth. It provides higher income, grows economies, fosters innovation, improves productivity, diversifies products, upskills the labour force and increases the affordability of goods and services. Professor of Law, Rafael Leal-Arcas thinks, “There will be economic growth through mega-regional-trade agreements with binding provisions on environmental protection.”
Quotable
“The international trading system is a powerful and novel instrument for climate change mitigation, which is the biggest challenge humanity faces today,”
“The international trading system is a powerful and novel instrument for climate change mitigation, which is the biggest challenge humanity faces today,”
Rafael Leal-Arcas
SMU Lee Kong Chian Visiting Professor of Law
“Digitalisation is to be shared; the more you share the process, the learning and the talent, the better it is for the whole of ASEAN in its ability to market to the rest of the world.”
“Digitalisation is to be shared; the more you share the process, the learning and the talent, the better it is for the whole of ASEAN in its ability to market to the rest of the world.”
Annie Koh
Professor Emeritus of Finance (Practice)
Tomorrow, Today
The Southeast Asian digital economy is seeing a resurgence
Here comes the proliferation of digital merchants, with ‘being digital’ as table stakes.
Over to You
Embrace digitalisation
Individuals, businesses and governments should welcome the opportunities that digitalisation offers and to do so with a clear sense of purpose.
Consider inclusive growth
Profit and growth can be achieved alongside larger goals of sustainability and social equality if leaders make responsible and well-guided decisions that are focused on improving lives across the board.
Support regional development
ASEAN’s diversity has always been its strength, but a digital ASEAN would be better able to optimise these diverse resources in a way that benefits all. We must help each other.