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Seminar II · Global Markets & the Economy

Innovation Growth in Asia: Spearheading R&D in the Modern Age

An explosion of R&D in Asia has propelled Asian companies to become more efficient, competitive, and innovative. In fact, Asia accounts for nearly 30% of global R&D spending, totalling $782 billion. Behind this movement are major tech leaders such as Alibaba, which spent nearly $4 billion on R&D, as well as governmental support for developing cutting-edge technology. This new focus on tech driven—by AI and digitization—will have wider implications on whether Asia can maintain its competitive edge with the Western world and even spearhead innovation of the future.

While Asia’s investment in R&D is growing faster than western countries, this investment—especially Chinese investment—still lags significantly behind Western investment in terms of value, according to PwC. At the heart of R&D is the ability to adapt to changing times, and it remains important for business leaders and policymakers to create an environment conducive to innovation. In this seminar, delegates will explore best practices for companies to maintain competitiveness and analyze government policies to allow Asia to take the lead in global R&D.

Earlier Event: August 18
Plenary II
Later Event: August 18
Lunch