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SBF supports ABAC’s call for economies to embrace the digital economy to increase prosperity

5 February 2018 [Singapore] - Members of the APEC Business Advisory Council (ABAC) – APEC’s private sector advisory body – were gathered in Auckland, New Zealand on 1 – 4 February for their first meeting for 2018. The meeting also included a dialogue with APEC senior officials – an annual event that allows both businesses and governments to gather together in order to provide updates on the initiatives undertaken by each other, as well as exchange insights on areas where both can collaborate to advance economic integration in the Asia Pacific region.

Emphasis at this meeting were on embracing and leveraging on digital economy, and making sure that opportunities and benefits of growth are shared to the people. In line with ABAC’s theme “Digitalisation and Innovation – Advancing Social Harmony” under ABAC Papua New Guinea’s chairmanship, a new working group on digital innovation has been established to discuss about the challenges on the digital economy, gather business perspectives, and promote best practices of APEC economies (both policymakers and businesses) in adapting to the technological revolution.

“I am quite enthusiastic with the topics this year, especially on digitalisation, as this is an area of main focus for SBF this year. It is very timely and relevant for companies and policy makers to talk about digitalisation, including its opportunities and challenges. I have particularly pointed out on the need for APEC economies to be transparent on their policies and regulations on digitalisation as an initial key step in better understanding digital economy,” said Mr Ho, CEO of SBF.

“In addition, I am excited to work with our newly appointed ABAC Singapore members, who will be joining me in advocating and promoting Singapore business community’s interests in ABAC this year. While I continue to co-chair the Regional Economic Integration Working Group and champion ABAC’s services agenda, Mr Saw Ken Wye, CEO of CrimsonLogic Pte Ltd and Chairman of the SGTech, will be actively participating at the newly formed DIWG, and Mr Lawrence Leow, Chairman and Chief Executive Officer of Crescendas Group at the Micro, at the Small and Medium Enterprises and Entrepreneurship (MSMEEWG). We will look into how services trade facilitation and digitalisation can help our companies grow in overseas markets” added Mr Ho.

The Media Release for 2018 ABAC I Meeting is available here.

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