Let’s work together to turn challenges of industrial revolution into opportunities in ASEAN region

writing pen1

Like previous Industrial Revolutions, this ongoing Fourth Industrial Revolution is changing the world of work at lightning speed. It is a double-edged sword, carrying both opportunities and challenges.
At the World Economic Forum on ASEAN held in Ha Noi on 12 September, the leaders of ASEAN voiced the key concerns and choices facing the region in an era of technological disruption.
The rapid change in technology and innovation has alerted the ASEAN members in particular to embrace innovation, reform and creativity to connect them in a more dynamic way for sustainable development.
While riding the wave of the industrial revolution, the ASEAN should give stronger empowerment to the private sector and entrepreneurs.
The 4IR should be tapped to benefit people of all ages and from all areas.
The World Economic Forum and ADB have already warned that emerging technologies will transform the Southeast Asian landscape, and ASEAN leaders should be prepared to handle the intense transformation that lies in the near future.
There is indeed a danger that ASEAN business will be facing with stronger competition from challengers from outside the ASEAN region.
ASEAN is fully cognizant of this danger. The current ASEAN Chair, Singapore, has also rightly selected the theme of “Innovative and Resilient ASEAN”. We also have ASEAN ICT Master Plan 2020 which has laid down a foundation to propel ASEAN towards a digitally-enabled economy.
ASEAN member countries including Myanmar should be prepared to be ready to take advantage of the new and huge opportunities that would be brought by the Fourth Industrial Revolution.
This is because ASEAN is targeted to become the fourth-largest economy in the world by 2020.
ASEAN’s 10-member regional grouping is home to more than 630 million people, with a collective GDP of $2.8 trillion – making it the sixth-largest economy in the world
Despite development gaps among ASEAN, all member countries should work together to seek a new vision and chart out an Action Plan to respond to the Fourth Industrial Revolution. Together ASEAN can overcome the challenges posed by the new Revolution as a group, and we can turn the challenges into opportunities for our Region.

Share this post
Hot News
Hot News