Masayoshi Son, president of Softbank Corp., urged a U.N. development panel Wednesday to work on entrepreneurship and stock markets.

He identified these as key factors in developing countries' battle to cope with the rapid advance of information technology.

"Bridging the digital divide between developing and developed countries is as essential as resolving education and medical problems to overcome poverty," Son said in an interview with Kyodo News after the first meeting of the High-Level Panel on Financing for Development.

The panel was created in December to help U.N. Secretary General Kofi Annan formulate new strategies for helping developing countries with trade, aid, debt relief and investment.