Tag Archives: World Bank

World Bank report: Malaysia – unlocking the potential of the digital economy

CaptureUnlocking the potential of the digital economy is key to ensuring Malaysia’s successful transition to a high-income economy.

  • Moving forward, Malaysia should consider adopting policies with two main objectives:
    – Improved quality and affordability of fixed broadband services;
    – Increased coverage of ultra-fast broadband networks.
  • To achieve these objectives, the government should strive to increase competition in the fixed broadband market.
    – Better enforcement of the current regulatory framework could provide all operators with access to cable landing stations.
    – Encouraging competition by opening the market across all levels of the telecom and internet supply chain.
  • For Malaysia to increase productivity outcomes in the private sector and drive the country’s digital transformation, it is crucial for the country to improve its level of digital adoption and connectivity.

Report World Bank –  Malaysia Economic Monitor: Navigating Change, part two: Unlocking the potential of the digital economy (2018)

Or you can find more reports in Library

Event – A New Economy for Middle East and North Africa Countries: Youth, Technology and Finance (Algeria)

mena-algeria-2018-banner-ENThe Middle East and North Africa (MENA) region will have to create hundreds of millions of new jobs over the next three decades. This challenge presents an opportunity for the region to transform its economies and harness both the creativity of its large youth population and the disruptive power of technology as engines of growth.

The World Bank Group in partnership with the government of Algeria and the Arab Monetary Fund, will bring together policymakers, entrepreneurs and academics from the region and beyond for a series of far reaching discussions on what it will take for MENA to seize this opportunity.

The Youth, Technology and Finance conference will focus on the building blocks of a new economy. This will include discussions on the role education systems play in changing attitudes toward and encouraging innovation. The region has a fast-growing population of university graduates, and widespread adoption of smart phones and social media, but few combine their skills with technology to become entrepreneurs.

The e-commerce site, Souq.com and the ride-hailing app Careem are powerful examples of what is possible, and the conference will host discussions on the environment needed to multiply these green shoots. There will be sessions on creating education systems that equip young people with 21 st century skills, and crafting smart regulations that promote innovation as a driver of private sector development and job creation. Discussions will also focus on the lessons learned in
establishing the necessary technical infrastructure, such as accessible and affordable high-speed internet and digital payment systems.

The new economy will be driven by technological innovation, which has broadened the reach and lowered the cost of training, revolutionized job matching and lowered the cost of incubating start-ups.

A number of the region’s most successful ‘unicorns’ will also be featured at the conference, with their stories of how they leveraged disruptive technologies to launch businesses and grow offering a glimpse of a potential future for the region.

Agenda – List of speakers

source: http://www.worldbank.org/en/events/2018/03/11/a-new-economy-for-arab-countries-youth-technology-and-finance

Georgia develops $40m National Innovation Ecosystem project

Georgia is trying to increase the innovative activities of firms and individuals and their participation in the digital economy by developing the National Innovation Ecosystem (GENIE).

The total cost of the GENIE project, which will support innovative ideas and start-ups in Georgia, is $40 million.

Georgia’s Economy Minister Dimitry Kumsishvili discussed the project implementation process with representatives of the World Bank today. The project is being implemented with the financial assistance of the World Bank.

The project comprises of four components. The first component is about developing the innovation infrastructure, a network of innovation hubs and innovation centers in selected cities, towns and villages.

For the second component, innovation services will deliver services, many in coordination with community innovation centers and regional innovation hubs, tailored to project beneficiaries at various stages and levels of the innovation ecosystem.

The third component will involve the provision of matching grants and technical assistance to innovation financing projects to stimulate alternative forms of innovation financing and investment in the digital economy.

The fourth component, project implementation support, will aim to ensure the efficient and effective implementation of all project components.

As the project description published by the World Bank reads, the approval date of the project was March 18, 2016, while the closing date is April 30, 2021.