On June 14th, Beijing time, the “Urban Youth Join Hands Across Lands and Seas” 2024 Asian Youth Dialogue was held, focusing on “Driving Towards Entrepreneurship and Innovation.” Youth from China, Singapore, and Pakistan engaged in video discussions, exploring opportunities and challenges in entrepreneurship and innovation to foster development.
Regional economic growth fueling opportunities
Asia’s rapid economic growth has created unprecedented opportunities for youth in employment and entrepreneurship. Liu Zhenwei, a Communication Engineering major at Chongqing University of Posts and Telecommunications, highlighted the significant export growth of China’s “New Three” industries in 2023, including new energy vehicles, lithium batteries, and photovoltaic products, which increased by 29.9%, capturing a leading international market share.
Steven Shi, a Master’s student in AI at the National University of Singapore, discussed AI applications in financial services, emphasizing efficiency improvements in document processing and new opportunities for young innovators.
Saddam Hussein, Assistant Director of the Pakistan Institute for Development Economics, outlined Pakistan’s emerging entrepreneurial ecosystem, supported by government initiatives in IT, e-commerce, fintech, agriculture, food technology, and renewable energy.
Government policies driving innovation
Government policies play a pivotal role in encouraging entrepreneurship. Wilson from the Nanyang Academy of Fine Arts in Singapore noted Singapore’s role as a platform for East-West enterprise compatibility despite challenges like funding and high trial costs for young entrepreneurs.
Ali Zaki, Marketing Director at Aiwa City 5G in Pakistan, detailed government support in education, employment, and entrepreneurship. Bai Zixuan from Chongqing University highlighted China’s policies, including tax reductions and special funds for innovation projects, benefiting 256 projects in Chongqing alone. Rahman Sagedu, a graduate student, discussed Bangladesh’s initiatives under “Digital Bangladesh 2021,” supporting technological innovation.
Fostering global collaboration
Wei Yutong from CQUPT highlighted Chongqing’s role in the Belt and Road Initiative by developing innovation parks with free incubators and startup tax incentives. She emphasized the importance of international exchanges to foster global learning platforms and organize competitions for youth to showcase innovative ideas.
Lin Xiaoqiang, a Computer Science doctoral candidate at the National University of Singapore, stressed the significance of AI skills in current job markets and suggested governments promote short-term AI courses in universities. He called for enhanced international cooperation to leverage diverse strengths for advancing innovation globally.
The dialogue featured scholars and students from nine universities, facilitating discussions on entrepreneurship and innovation among emerging economies. The event was broadcast live and streamed on multiple platforms, underscoring global opportunities for young innovators.