Platform established to seek business under Belt and Road initiative

PwC today launched a membership-based platform to explore business opportunities especially in the e-commerce sector under the One Belt One Road initiative.

PwC today launched a membership-based platform with nearly 20 companies to explore business opportunities especially in the e-commerce sector under the One Belt One Road initiative.

PwC experts envisioned wide online retail sales market along the OBOR once infrastructure is set up in the areas.

“The OBOR countries are ready for online retail thanks to the status of the economies along the routes which are characterized by changing consumer behavior among thriving young populations, accelerated urbanization, increasing Internet users and high mobile penetration,” said Michael Cheng, PwC Asia Pacific Consumer Leader.

The OBOR initiative was put forward by Chinese President Xi Jinping in 2013 to boost economic links between China and 68 countries across Central Asia, the Middle East and East Europe, Southeast Asia and Africa.

Government support for digital industries in some OBOR countries will also drive e-commerce growth, and the total online retail sales of key OBOR countries and regions excluding China are expected to reach US$300 billion by 2020, PwC said.

It expected companies in logistics, payment, cyber securities, technology and healthcare sectors will find big deal-driven opportunities in the next 12 to 36 months.

The first batch of members include consulates of OBOR countries and various companies.

The platform aims to facilitate information and knowledge sharing online, and encourages offline activities among business, professional service, academic, and government entities.


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