The Permanent Mission of the Principality of Monaco at the United Nations in New York participated to the 59th session of the Commission for Social Development (CSD), held from February 8 to 17, 2021.

This subsidiary body of the UN Economic and Social Council (ECOSOC) has chosen as its priority theme for this session: “The transition to sustainable development and social justice: digital technology at the service of social development and well-being of all ”, a theme perfectly suited to the current context.

Alyson Calem-Sangiorgio, Third Secretary at the Permanent Mission of the Principality of Monaco to the United Nations, took the floor during the general debate in order to outline the essential role of digital technology for the Principality of Monaco, in particular through Extended Monaco and Monaco Santé programs.

This session also resulted in the adoption of a resolution on digital technology for social development. The Monegasque delegation, aware of the importance of playing sports at home, and in particular in the context of the pandemic, has obtained that this theme be included in the resolution on the main theme. The Commission therefore recognizes the potential of digital technologies in the practice of sport and physical activity.

In her speech, Alyson Calem-Sangiorgio recalled Monaco’s ambition to become a nation fully geared towards digital technology and “the growing importance of this sector which will contribute to the achievement of our objectives in terms of social development and quality of life”.

« In a digital world, Monaco is a country that transforms its size into a strength, an asset that enhances the performance of our economic and social model, that makes it more sustainable and more human.»

HSH Prince Albert II of Monaco – during the launch of the Extended Monaco program in April 2019

According to data from the Monegasque Institute of Statistics and Economic Studies (IMSEE), Monaco is the 6th country in the world with the largest digital footprint (95% of the population uses the internet) ; the digital economy of the Principality represents 5% of its GDP (2019 database).

“The next phase of the program consists of training, equipping and supporting Monegasque companies to digitaliize their activities by focusing on the development of e-commerce,“click and collect” catering and digital payments. To achieve this, a € 20 million blue fund has been set up to help companies realize their digital potential.”

Alyson Calem-Sangiorgio, Troisième Secrétaire à la Mission Permanente de la Principauté de Monaco auprès des Nations Unies

Alyson Calem-Sangiorgio’s speech was also the opportunity to recall on the one hand the importance of a secured digital sector, ensured in the Principality thanks to the Blockchain technology and the work of the Commission de Contrôle des Informations Nominatives (CCIN).

And on the other hand, the development of a legal framework favorable to the development of this innovative digital economy which is the fruit of the Sovereign, HSH Prince Albert II goodwill and the efforts of the National Council which works to broaden the scope of application of this legal framework.

“Monaco is the first country in the world to have a specific legal framework for security token offerings (STO), a financial instrument that has become an essential tool used by entrepreneurs to raise capital. The Principality thus hopes to create around 100 new jobs each year.”

Alyson Calem-Sangiorgio, Third Secretary at the Permanent Mission of the Principality of Monaco to the United Nations

Article: Joana Foglia – Source: Direction de la Communication du Gouvernement Princier de la Principauté de Monaco; IMSEE, Extended Monaco