by Xinhua writer Tu Yifan
RIYADH, Oct. 13 (Xinhua) -- An effective and timely resolution of the COVID-19 pandemic can only be achieved through collaboration between all institutions, Yousef Al-Benyan, chairman of the Business 20 (B20) Saudi Arabia, has said.
The institutions must include governments, multilateral organizations and businesses, Al-Benyan told Xinhua in a recent interview, saying that "as we reflect on the lessons learned from 2020, it is clear that we must embrace the notion of action through collaboration, locally, regionally and internationally, if we are to successfully manage this pandemic."
As the voice of business to the Group of 20 (G20), the presidency came at a time like no other in modern history when the world is facing the urgent need to unite the efforts of political leaders and cooperate amid the current COVID-19 crisis, Al-Benyan noted.
When asked about emerging signs of protectionism during the crisis, Al-Benyan said it is critical to note that the fundamental principles of the global market-based economy must be preserved.
Governments, including those of the G20 countries, must take this opportunity to accelerate structural and regulatory reforms. Policies, regulations and support measures for economic revival should be reviewed and carried out over time, Al-Benyan added.
The overarching goal at the B20 is straightforward, he said, "(which is to) deliver policy recommendations to the G20 that advance the strength and viability of all businesses -- small, medium and large -- and (of) the communities and ecosystems which they serve."
Al-Benyan said that the B20 has developed fundamental, actionable policy recommendations to address the immediate health and economic crisis that could serve as the guideposts for a post-COVID-19 recovery phase.
The recommendations address several objectives, which include building health resilience of citizens, maintaining financial stability by ensuring open supply chains and strategically reviving important sectors, as well as embracing technology to digitize responsibly and inclusively, he added.
Talking about China's steady recovery from the pandemic, Al-Benyan said, "I have expressed many times how inspired I am by the extraordinary efforts made by the Chinese people during this crisis at every level. It is only because of these efforts and sacrifices that we are now witnessing a significant recovery in China."
Meanwhile, he pointed out that uncertainty around the world would remain for some time. "Demand for goods and services may take a long time to recover to pre-pandemic levels and will vary significantly between sectors."
"At B20, we believe that while we must urgently contain the short-term fallout, it is critical to invest in long-term resilience that is environmentally sustainable and socially inclusive," Al-Benyan said, adding that "now more than ever we cannot take our eyes off of the Sustainable Development Goals (SDGs) that we are hoping to meet by 2030. China, its people, and its companies have a huge role to play in helping us achieve them."
The coronavirus crisis has in many ways sped up the transition to digital technologies and is re-engineering the way people work and learn. Due to the pandemic, it is now more essential than ever for the G20 to boost investment in digital infrastructure and to facilitate affordable digital access for all, Al-Benyan said.
"Its policy recommendations are aimed at promoting utilization of and access to the Internet, enabling digital transformation by preparing everyone for a digital future and securing innovation and investment while protecting data privacy and security," he added. Enditem
