At a recent high-level symposium, the bank called for concerted and coordinated regional actions for sustainability, technology adoption and economic expediency.
As the region recovers from the coronavirus pandemic, South-east Asian countries can benefit from investments in green infrastructure, digital transformation, big data, and revenue mobilization through tax reform, according to Asian Development Bank (ADB) President Masatsugu Asakawa at the second South-east Asia Development Symposium on 17–18 March 2021.
Asakawa noted at the opening session of the symposium: “As countries slowly begin to emerge from the devastating health and economic impacts of the pandemic, we now stand at a critical juncture. The pandemic offers us a unique opportunity to rebuild for a more resilient, inclusive, and sustainable recovery. We need to forge a new path forward together: one which taps new ideas and technologies, and leverages our existing platforms for innovation and partnership.”
Developing economies in South-east Asia can benefit from action in three key policy areas, which have been laid out in a series of policy briefs released by ADB:
- Investing in environmentally sustainable development in five sectors: agriculture, oceans, urban and transport, waste management, and clean energy could create 30 million jobs in the region by 2030.
- Expanding the tax base, maximizing tax compliance, and simplifying the compliance process will significantly boost governments’ revenue and better position them to finance pandemic recovery.
- Making better use of big data, countries can capitalize on the region’s digital transformation to enhance the delivery of health care, social protection, and education.
The Asian Development Bank, currently headquartered in Metro Manila, was established in 1966, and it is owned by 68 members, with 49 from the Asia and Pacific region. Its papers on the following economic topics are available for download:
Supporting Post-COVID-19 Economic Recovery in South-east Asia
Implementing a Green Recovery in South-east Asia
Strengthening Domestic Resource Mobilization in South-east Asia
Harnessing the Potential of Big Data in Post-Pandemic South-east Asia