π-Economy (Aug 2023)
Unlocking the potential of the digital economy in the EAEU countries: identifying and overcoming obstacles
Abstract
In this research work, the conditions of digitalization in the countries of the Eurasian Economic Union are considered. The essence and trends of the digital strategy of the EAEU are revealed, in particular, the emphasis is placed on its structural composition. We analyzed digital indicators by comparative analysis. The foreign experience in the field of problem solving in the process of digital transformation of the economy was studied as well. The features and constraining factors for the development of digital transformation of economic sectors are determined, and on their basis scientific conclusions are drawn on the formation of a single digital space of the EAEU. Scientific conclusions are made for the further development of the digital economy by studying the features and constraints of the development of digital transformation in various sectors of the economy of the EAEU. Digitalization is one of the dominant processes of modern economic development both at the national level and globally. Because of this, digital transformation is seen as the main agenda for the Eurasian Economic Union, facilitating the free movement of goods, services, labor and capital between member states. The EAEU creates the appropriate conditions for the member countries to fulfill the key statutory tasks in all areas of the country's foreign and domestic economic activities. This is confirmed by the significant growth of macroeconomic indicators following the results of the first five-year period. The EAEU gross domestic product at purchasing power parity (GDP at PPP) increased by 13%, GDP per capita by 12%, the unemployment rate decreased by 12%, investment in fixed assets increased by 19%. The volume of mutual trade of the EAEU in November 2019 amounted to 5,628.8 million US dollars. By November 2018, its value increased by 11.3% or $572.3 million, or by 5.9% or $315.6 million compared to the previous month. For Kazakhstan, the growth rate compared to 2018 was 123.7% (USD 598.2 million) Purpose of the study. The purpose of the study is to study the regional challenges and opportunities of the member countries of the EAEU in the sector of digital economy. Furthermore, we aimed to investigate the barriers, problems in the field of digitalization and to provide scientific and practical conclusions on their solutions. Research methods. In the process of research, structural-system approaches, classification, logical method, scientific abstraction, generalization method were used. Using these methods together made it possible to carry out a comprehensive and complex analysis of the studied area, to make theoretical generalizations, to formulate practical recommendations and conclusions.
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