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E-financial services and digital economy transformations is a global trend: PlanMin

Minister Hala El-Said added that this is within the framework of this year's call for social justice in the digital economy.

By: Business Today Egypt

Mon, Feb. 22, 2021

The transformation to the digital economy and the expansion of electronic financial services has become a global trend and approach adopted by various countries of the world, says Minister of Planning and Economic Development Dr. Hala El-Said, adding that this is within the framework of this year's call for social justice in the digital economy.

The minister added that the International Day of Social Justice is an important occasion to call for the promotion of social justice, which includes addressing issues such as poverty and unemployment, promoting equality, human rights, and social protection.

“The transformation to the digital economy is one of the products and fruits of the interaction between the applications of the global economy, the knowledge revolution and the successive developments in information and communication technology,” El-Said explained.

She explained that the transition to the digital economy has become a necessity because of the economic and social development challenges that the countries of the world are witnessing, especially with the increasing calls for the necessity of keeping pace with the requirements of what is known as the "Fourth Industrial Revolution."

El-Said also pointed out that the repercussions of the Corona pandemic crisis have revealed the growing digital divide within and between developed and developing countries.

El-Said stressed that the process of digitizing the economy contributes to the implementation of the 2030 Sustainable Development Goals by adopting proactive policies to build productive capacities suitable for the new digital economy through the formation of digital skills and competencies for institutions and individuals while advancing innovation policies.

This came on the occasion of the International Day of Social Justice, which is celebrated on February 20 of each year, and this year 2021 is celebrated under the slogan "A call for social justice in the digital economy" to support the efforts made by the international community to search for solutions to achieve sustainable development and eradicate poverty, promote full employment and decent work, provide comprehensive social protection, gender equality, and access to social welfare and justice for all.