Adapting to digital world a matter of survival for small businesses


This picture taken on April 8, 2020 at the Giza Systems Education Foundation in the New Cairo suburb east of the Egyptian capital, shows the plastic portion of a protective face shield being cut by a laser machine, before being assembled to be delivered to medical professionals treating COVID-19 coronavirus patients. - The company uses digital printing technology mainly to produce assistive devices for people with disabilities, working in a lab called Project Nitrous. The face shield it designed can be printed in plastic, cut out by laser and simply assembled, and started delivering the devices to thousands of doctors -- for free. - AFP

KUALA LUMPUR: The need for a stronger concerted effort among Asia-Pacific Economic Cooperation (Apec) economies and a more focused strategy for structural reforms, especially in harnessing modern digital technology to address economic challenges, has become more critical than ever amid the adverse impact of the Covid-19 pandemic.

For instance, if a shift to digital was a looming need a few months ago, it is now a stark reality. For some sectors of society, such as smaller businesses, it is a matter of survival, chair of Apec Economic Committee (EC) Dr James Ding said.

He said the EC provides support for advancing Apec’s agenda to help economies implement structural reform to stimulate economic growth and bolster trade and investment volume.

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