The Asian Development Bank will hold its fifth Southeast Asia Development Symposium or SEADS in Manila next year, gathering experts from a range of industries to exchange insights on climate change and technology, among others.

ADB said it is preparing the program for the symposium which is supported by global industry leaders, including Meta, Amazon, Google, Microsoft, Samsung, VISA and Mastercard.

ADB is collaborating with at least 46 knowledge partners worldwide to organize the symposium as the multinational lender aims to spread digital literacy and solutions among developing countries and help create a carbon emission-free society.

"With the strong support of its partners, SEADS will continue to provide insights, foster innovation, enhance policy discussions, and promote stakeholder matchmaking and networking," ADB said.

High demand for digital skills

Based on the ADB report in 2022, demand for workers with digital skills in Asia-Pacific surged to 75 percent in five years. ADB said critical areas for digital upskilling include e-learning, renewable energy, smart cities and e-commerce.

ADB said the Philippines has been lagging in digital upskilling, with 58 percent of firms offering in-house digital training to employees compared to 73 percent in Indonesia last year.

Similarly, fewer firms or 33 percent of the surveyed Philippine firms worked with external parties for digital training compared to 53 percent in Indonesia.

"Digital skills that will allow workers to increase their economic value and organizations to innovate," ADB said.

According to Google's e-Conomy Southeast Asia 2023 Report, the Philippine digital economy could expand by over 20 percent to $150 billion in transaction value by 2030.

The report said the growth will be boosted by e-commerce projected to contribute $60 billion within this decade.

Meanwhile, ADB continues to fund energy firms with extensive renewable energy plans as it aims to expand its loan portfolio of renewable power to 75 percent in the next seven years.

Over 13,000 people participated in the first four symposia, which showcased 428 speakers.

The last symposium was held in Bali, Indonesia in March last year on the sidelines of the ASEAN Finance Ministers and Central Bank Governors' Meeting.