Thursday, February 29, 2024

NEDA cites importance of competitive environment for emerging technologies

The National Economic and Development Authority (NEDA) has stressed the importance of fostering an enabling and competitive environment for new and emerging technologies to attract more investments, catalyze job creation, and generate economic prosperity.

“Experience has taught us that to harness the benefits of the digital revolution, we must first learn how to streamline the country’s regulatory processes and ensure a more efficient framework,” said NEDA secretary Arsenio Balisacan.

Balisacan also underscored the need to safeguard user privacy and data protection amid the rapid proliferation and development of new technologies, as well as emphasized the importance of working jointly with public and private stakeholders toward achieving the desired end goals.

NEDA said it is committed to intensifying its efforts to push for policies enabling the Philippines to become a tech-ready country.

This commitment is driven by the government’s goal of achieving socioeconomic transformation for the country within the medium term.

Under the Philippine Development Plan 2023-2028, digitalization is among the six key cross-cutting strategies towards achieving this goal.

The plan recognizes that by leveraging technology, the Philippines can see more significant improvements in efficiency and productivity, ensuring that economic growth is sustained and improves the lives of Filipino citizens.

NEDA is also pushing for the passage of the Open Access in Data Transmission Bill that aims to narrow the digital divide in the country by promoting the development of data transmission infrastructure and removing any barriers to competition in data transmission services.

The bill was recently included in the priority list of bills under the Legislative-Executive Development Advisory Council (LEDAC) Common Legislative Agenda and is expected to improve internet connectivity, accessibility, and inclusivity, as well as facilitate digitalization and innovation in the country.

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