The Prince’s Government is developing a legal framework so companies in the Principality can develop and create new digital services. A press lunch was organized on 2 May with Frédéric Genta, Interministerial Delegate in charge of the Digital Transition, and Julien Dejanovic, Director of the Digital Administration, to discuss these services.
The digital economy in Monaco today represents 5% of the GDP. Back in December 2019, the Digital Principality law was passed by the National Council to guarantee an equivalent value between a digital document and a paper document. Through this law, the Principality is looking to create a stimulating environment for its economy and attract new businesses.
Under the impetus of Extended Monaco and in consultation with local stakeholders, the Principality is beginning to use digital solutions at the cutting edge of innovation. With cloud storage and digital identity, this law represents the basis of the Monegasque model in a digital world.
Monegasque companies will be able to digitize pay slips, file documents electronically without the need to keep a paper copy, send registered letters electronically, have the acknowledgment of receipt recognized electronically and even create electronic contracts with the same legal value as paper contracts.
Thanks to the new legislative base, Monaco now aligns with European eIDAS standards to facilitate digital exchanges. After defining the digitization of salary slips in December, the Prince’s Government will define additional elements of these laws through other sovereign ordinances by March / April 2020; as well as Monegasque certificates for signatures and electronic seals via the Monegasque Agency for Digital Security (AMSN).
Starting today, companies can begin their internal work to create procedures in regard to the digitization of pay slips, which can save around 3.4 tonnes of paper per year.
In addition to echoing the Prince’s Government’s environmental commitments, this digital approach will also free up physical space in the Principality, a place where square metres are precious. An estimated area the size of ¼ of the extension at sea, or 15,000 m² will be saved, according to AMAF.
Relations between the private sector and the state will continue to digitize in several new ways:
By the end of 2020 / beginning of 2021, internal administrative exchanges will be digitized;
By the end of 2020 / beginning of 2021, salary slips will be digitized;
By creating a digital identity and offering many new teleservices, the Monegasque State will be meeting the challenges of a digital world.