Asean countries need to prioritise digitalisation, platform creation, agility, resilience and sustainability as methods to steer them towards recovery mode in the wake of the pandemic, say leading economic and business figures.
"Digitalisation in everything, through all levels of both the public and private sectors, is now the new normal. This is a must to survive," said Sopnendu Mohanty, chief fintech officer at the Monetary Authority of Singapore.
He was speaking at a virtual seminar examining Asean countries' approaches to recovery from the crisis, part of the Techsauce Virtual Summit held June 19 and 20.
Resiliency and sustainability are now more important than efficiency and productivity, Mr Mohanty said.
"Digital platforms are among key elements that need to be delivered," he said. "E-commerce, food ordering and any digital platforms require an ecosystem that has open data and application programming interface."
To foster recovery, policymakers need to support national digital identity, payment and data systems, he said.
Countries also must have digital infrastructure that can cater to interoperability of data and systems.