Shopee founder Forrest Li highlighted Thursday the growth potential of ecommerce in Southeast Asia at the Singapore FinTech Festival.

He noted the region’s lower online shopping penetration compared to the United States and China.

Li emphasized the role of emerging technologies like AI and blockchain in enhancing consumer experiences.

Despite post-pandemic challenges in the tech sector, including layoffs, he pointed to the promise in tech-driven solutions.

Sea Group, the parent entity of Shopee, returned to profitability in the year’s second quarter after earlier losses.

The company identified fintech as a growth area, having started e-wallet services in Vietnam and Thailand.

In discussing financial services, Li noted the low credit service usage in Indonesia. He remarked on the considerable impact small loans have on borrowers there.