Digital technologies are becoming increasingly important for the economic growth and international competitiveness of countries’ economies as well as being a vector of prosperity for the local populations. In consequence, they represent for LDCs a potential source which can increase material prosperity and combat poverty. On the other hand, there is also the danger that, if no efforts are made, some of the LDCs will be technologically left behind and thus will have no chance to be competitive at international level by being left out of the global network of exchanges.
The consequences of the Covid-19 pandemic have further reinforced this trend as digitalization and the connectivity of the world have accelerated even more during the last two years. Therefore, the access to internet is crucial for all LDCs and massive investments should be made in all three dimensions of Broadband Internet access which are the availability, the accessibility, and the skills. This means that the LDCs need to expand their digital infrastructures which require, above all, private investment by companies that must adapt their production facilities to digital technologies.
New national infrastructures are also needed such as data centers and facilities to store data which are in short supply in the LDCs as well as efficient information and communication networks and a secure electricity supply.
Finally, the digital skills of citizens need to be upgraded through a better education along with training opportunities and organizational restructuring. The PSF will be the chance to elevate digital corporate champions to support the transition of the LDCs into the globalized digital economy by facilitating the meeting and cooperation between these actors.