FOR BUSINESSES
29 May 2020

Dr Mochtar Riady shares exclusive insights on “New Challenges and Opportunities in Post-Covid-19 World”

Business China is pleased to have Dr Mochtar Riady, Founder and Chairman of Lippo Group, share his perspectives on “New Challenges and Opportunities in Post-COVID-19 World” on 28 May 2020. This session is jointly organised with Fortune Times. Supporting organisations include National University of Singapore Executive MBA (Chinese), Singapore Management University, Nanyang Technological University and Singapore Manufacturing Federation.

Dr Riady’s exclusive sharing and also the second run of the FC Global Business Series, was a big draw to the audience from Singapore, China and ASEAN.  Close to 700 registrants participated in the entire session of the webinar with up to 80% of them being senior management and 30% coming from China and ASEAN.

The two consecutive weeks of the series attracted a regional audience of close to 1,200. The first episode last week focused on Asia Pacific technology landscape. Through the series, Business China aims to provide insider insights by renowed experts to corporate and business leaders.

Business China CEO Ms Tin Pei Ling gave the opening remarks, which outlined the vital need for businesses to navigate challenges and capture opportunities in the uncertain post-COVID-19 era. 

Dr Riady who has accumulated 60 years of wisdom in regional markets, was able to give his wealth of experience to the businesses. As a business veteran with deep regional knowledge, Dr Riady explained in detail on how COVID-19 has led to the acceleration of the Fourth Industrial Revolution. By bringing the audience through the history of the First, Second and Third Industrial Revolutions, he stressed the importance for countries and businesses to ride on the opportunities brought about by the Fourth Industrial Revolution through new technologies. However, he also cautioned that COVID-19 had brought about huge chain reactions to industries such as aviation, travel and finance, with unemployment rates possibly rising even higher for countries like US. It is critical for countries and businesses to be adaptable to the changes in this post-COVID-19 world.

A poll survey was also conducted during the session to understand the sentiments on the ground. About half of the respondents felt that technology and research-enabled projects will be the next wave of opportunities between China and ASEAN.  On the other hand, 57% surveyed stated that the main challenge for Chinese and ASEAN businesses in the post-COVID-19 economy will be the uncertainty in global governance and geopolitics.

Attendees participated actively during the question and answer segment to seek Dr Riady’s views and advice on a wide range of issues. Dr Riady drew on examples and facts to highlight how businesses can prepare themselves for post-COVID-19 recovery, the impacts of the global geopolitics, the shift in supply chain to ASEAN as well as the future of Chinese Currency Yuan.

Business China Chairman Mr Lee Yi Shyan also shared his views on how ASEAN as a community can help strengthen the economic relations with other countries through trade deals such as the Regional Comprehensive Economic Partnership (RCEP) and the ability to remain neutral and united.

The next session will be held on 23 June 2020 in collaboration with Asia House. Please stay tuned for more updates.