Logo of Phnom Penh Post newspaper Phnom Penh Post - Youth keying into digital economy

Youth keying into digital economy

Content image - Phnom Penh Post
Panellists speak during a session on ‘The Asean Dream’ at the World Economic Forum on Asean yesterday in Phnom Penh. SIKARIN THANACHAIARY/WORLD ECONOMIC FORUM

Youth keying into digital economy

Southeast Asia’s youthful population is embracing the internet and rapidly connecting to the digital economy, creating enormous potential for economic growth throughout the region, panellists at the World Economic Forum on Asean said yesterday.

Addressing a panel discussion on “The Asean Dream”, Kao Kim Hourn, the minister attached to the prime minister of Cambodia, said that youth participation in the region’s development was imperative as they represent such a large portion of the population.

“The youth need to participate in the future of the region and they need to consider how they dream the region will be [in the future],” he said. He added that technology is providing youth opportunities to help their countries and the region develop.

“Technology is developing very fast and it creates new opportunities and a chance to grow,” he said. “Youth need to recognise this potential and try to seize the opportunity.”

According to the World Economic Forum (WEF), more than half the population of the 10 countries that make up Asean is under 30 and the region has the fastest growing internet users in the world.

The number of people with internet access is growing by 124,000 every day, and will continue to grow at this pace for the next five years.

Anthony Fernandes, group CEO of AirAsia, said increasing connectivity throughout the region could accelerate economic development and provide higher skills employment opportunities for younger generations. He added that the development of technology provided a chance for Asean youth to pursue their own ideas and expand on them for the benefit of their country and the entire region.

When asked about how young people in Asean could succeed and achieve their dreams, Fernandes encouraged them to find their strengths and start their venture by focusing on the advantages provided by their own countries.

“Be good in your own country and then you have the ability to grow outside and expand to the 700 million [population of the regional] market,” he said.

Cambodia is hosting the World Economic Forum for the first time. The three day regional summit, which opened yesterday, is being held in Phnom Penh under the theme, “Youth, Technology and Growth: Securing Asean’s Digital and Demographic Dividends”.

MOST VIEWED

  • Hong Kong firm done buying Coke Cambodia

    Swire Coca-Cola Ltd, a wholly-owned subsidiary of Hong Kong-listed Swire Pacific Ltd, on November 25 announced that it had completed the acquisition of The Coca-Cola Co’s bottling business in Cambodia, as part of its ambitions to expand into the Southeast Asian market. Swire Coca-Cola affirmed

  • Cambodia's Bokator now officially in World Heritage List

    UNESCO has officially inscribed Cambodia’s “Kun Lbokator”, commonly known as Bokator, on the World Heritage List, according to Minister of Culture and Fine Arts Phoeurng Sackona in her brief report to Prime Minister Hun Sen on the night of November 29. Her report, which was

  • NagaWorld union leader arrested at airport after Australia trip

    Chhim Sithar, head of the Labour Rights Supported Union of Khmer Employees at NagaWorld integrated casino resort, was arrested on November 26 at Phnom Penh International Airport and placed in pre-trial detention after returning from a 12-day trip to Australia. Phnom Penh Municipal Court Investigating Judge

  • Sub-Decree approves $30M for mine clearance

    The Cambodian government established the ‘Mine-Free Cambodia 2025 Foundation’, and released an initial budget of $30 million. Based on the progress of the foundation in 2023, 2024 and 2025, more funds will be added from the national budget and other sources. In a sub-decree signed by Prime Minister Hun Sen

  • Two senior GDP officials defect to CPP

    Two senior officials of the Grassroots Democratic Party (GDP) have asked to join the Cambodian People’s Party (CPP), after apparently failing to forge a political alliance in the run-up to the 2023 general election. Yang Saing Koma, chairman of the GDP board, and Lek Sothear,

  • Cambodia's poverty cut in half from 2009 to 2019: World Bank report

    A report published by the World Bank on November 28 states that Cambodia’s national poverty rate fell by almost half between 2009 and 2019, but the Covid-19 pandemic recently reversed some of the poverty reduction progress. Cambodia’s poverty rate dropped from 33.8 to 17.8 per cent over the 10