A fast-growing digital economy is opening new opportunities for small and large businesses, but developing Asia is hampered by a lack of infrastructure and outmoded regulations.

International cooperation and coordination with development partners will help standardize simple, transparent, and effective processes for global business, as will efficient and automated exchange of information.

The private sector should focus on market infrastructure to support a digitally driven economy. It needs to develop new business models and encourage innovation to realize the full impact of digital connectivity. It must reassure consumers that their privacy will be respected, that the goods will be of good quality and arrive on time, and that payment systems are secure and they can get their money back if needed.

Read the transcript

http://bit.ly/2ivIVRe

Read the policy brief

https://www.adb.org/publications/development-dimension-e-commerce-asia-opportunities-and-challenges

Authors

Aladdin Rillo, ADBI senior economist, https://www.adb.org/adbi/about/staff-profiles/aladdin-rillo

Valdimir dela Cruz, a former ADBI research associate

Know more about ADBI’s work on

Digital economy http://bit.ly/2ivDzFy

E-commerce http://bit.ly/2vaEDV8