22 January 2023, Skopje – Technology will play one of the leading roles in the new reglobalized economy, making positive contribution to all systems, staring from trade and investments, improved innovations and resilience of the private sector, labor force, until coping with climate change and energy transition. It is estimated that digital technology will produce around 70% of the new value as regards the global economy, Minister of Finance, Fatmir Besimi wrote in his most recent column.
Technology is of exceptional importance for cost reduction and increased trade of services.
“In the modern age, technologies change the physical trade faster than ever, as the artificial intelligence, DLT, 3D printing, smart sensors, etc., bring about greater elasticity of the supply chain, cross border trade, better risk management, and mitigate financial crime. To that end, implementation of the processes of digital identity, improvement of the system’s operability and regulatory environment require enhanced cooperation”. Minister pointed out.
By touching upon the investments, he mentioned new tools for boosting foreign direct investments, such as creating databases of suppliers and sustainable investors.
As for managing climate change and energy transition, Besimi again mentioned the role the new technologies play in these processes.
“Energy transformation is closely related to climate change, being predominantly manifested during the past period. Measures related to energy transition are focused on innovative technologies and greater energy efficiency, as well as separating economic growth from energy consumption, primarily in developing countries. Green technology was on the rise during the past decade as well, whereby the continuous improvements thereof provided for making solar and wind energy cheaper. As per certain estimations, by 2050, the transition from fossil fuels to solar and wind energy will provide for saving US$12 trillion on a global scale”, Minister wrote.
Besimi furthermore added that new technologies could provide for attaining greater productivity and sustainability in the field of agriculture. They can also be exploited in testing the soil quality, the sowing season, the crop health monitoring, the tillage evaluation, as well as in connecting with the new suppliers and purchasers.
“Digital platforms for agricultural products such as Farm Pass are helping millions of farmers from the rural areas, to have access to fair prices, as well as funds, so as to be able to expand their businesses”, Minister pointed out.
As for the next period, innovations and adaptability will be the exact factors for ensuring the business sustainability, as indicated in this column. New technology, such as artificial intelligence will make a significant contribution to plenty of sectors such as manufacturing, agriculture, pharmaceutical industry, health services and care, etc. Boosting and supporting direct investments in the field of digitalization, such as e-commerce and FinTech, may substantially underpin the economy, to the end of creating new jobs, particularly in post-COVID times.
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