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ADB’s developing member countries are working towards harnessing technology to boost economic growth, expand employment opportunities, and improve service delivery. However, there needs to be a supportive legal and regulatory environment with clear laws to secure online transactions and provide legal certainty to paperless trade. Furthermore, government officials and the private sector require knowledge and capacity to support a safe, efficient, and effective digital economy. At the same time, digital transformation must be more inclusive to ensure that no one is left behind.

 

Our Impact

ADB’s Law and Policy Reform Program recognizes that for digital technology to have sustainable development impact, more investment is needed in building the legal infrastructure and capacity building. We do this by:

Enabling a Conducive Environment for the Growth of the Digital Economy

  • Deepening knowledge and enhancing national and regional expertise on legal and regulatory frameworks for e-commerce
  • Conducting diagnostics and identifying legal and regulatory barriers to effective and efficient e-commerce
  • Facilitating policy dialogue and supporting legal and regulatory reforms

Digitalizing Trade 
 

  • Closing the legislative gap in recognizing digital documents for trade
  • Assisting client countries with drafting legislation based on UNCITRAL Model Law on Electronic Transferable Records (MLETR) to permit the legal use of electronic documents of title domestically and across borders
  • Capacity building of government officials and private sector
  • Partnership with the ICC Digital Standards Initiative and UNCITRAL

Developing the Fintech Industry

  • Assessing existing legislative and regulatory frameworks for FinTech
  • Developing roadmaps and legal and regulatory frameworks for FinTech 
  • Strengthening the capacity of regulators and industry associations
     

Sharing Knowledge and Ideas

  • Developing e-learning courses for government officials and private sector
  • Facilitating workshops on e-commerce, digital trade, and FinTech
     

“I extend my appreciation to ADB and experts. The pandemic has shown that electronic e-commerce is a big benefit to the economy… this research will help us in future decision-making when improving the legislative framework.”

Nurlan Dzhusumaliev, Head of Trade, Policy and Export, Ministry of Economy and Commerce, Republic of Kyrgyzstan

 

 

LPR In Action

ADB’s Trade and Supply Chain Finance Program and Law and Policy Reform Program, along with CAREC Secretariat and People´s Republic of China (PRC) Ministry of Commerce gathered over 50 government officials and private sector representatives in Beijing to discuss potential legislation recognizing electronic trade documents aligned with UNCITRAL’s Model Law on Electronic Transferable Records (MLETR).
ADB and the Trade Training and Research Institute (TTRI) of the Ministry of Commerce co-organized an e-learning workshop on e-commerce via the website of the Asian Development Bank Institute (ADBI).
To help the Kyrgyz Republic transform its legal frameworks to modernize and catch up to electronic transactions, ADB drafted a report that reviews the legal framework for e-commerce in the country.
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AI Webinar
Artificial intelligence (AI) brings many potential benefits and opportunities but also practical and ethical concerns and risks to society. Governments must understand its advantages, protect users, as well as prevent unintended consequences that can lead to existential crisis within their countries and globally. The Asian Development Bank hosted an engaging webinar that aims to answer the big questions related to AI Regulatory Models.
 

Knowledge Resources