Supporting Digitalization: Key Goal for National Competitiveness in Digital Global Economy

Abstract

Creating a modern competitive economy and achieving irreversible economic growth is hardly possible without the realization of an innovation-based approach. In the 21st century, the leading role for the long-term growth of the national economy lies in new, revolutionary technologies capable to formulate and support the long-term economic growth and social welfare. Innovative development and science-based growth is incredible without digital technological development and transformation. Digital technologies affect development and introduction of innovation in several ways. In contemporary global economy digital technologies gaining speed to be incorporated in every spare of our lives over the globe. These processes entail continuous evolution of business models, which eventually are becoming more and more digitalized. The given paper analyzes one of the main factors that supports such kind of development, namely the development of physical infrastructures that is heavily relies on government efforts to develop and creates basics for private business to further advance digitalization.