Monday, June 24, 2024

NEDA sees expanding PH digital economy

The National Economic and Development Authority (NEDA) is optimistic that the Philippine digital economy will continue to expand as the government enables businesses — particularly micro, small, and medium enterprises or MSMEs — to adapt to digitalization and leverage the rise of emerging technologies such as 5G, cloud computing, and artificial intelligence.

NEDA secretary Arsenio Balisacan said the government will collaborate with the private sector to enhance the content of training programs for workers and employers and integrate courses on cutting-edge productivity tools utilizing emerging technologies.

He also reiterated that the passage of the Konektadong Pinoy Bill, the latest iteration of the Open Access Bill, will help reduce barriers to entry in the data transmission sector and upgrade physical and digital infrastructure to enable greater participation in the digital economy.

“We also intend to take advantage of trade deals such as the CHIPS Act of the United States, which aims to improve the country’s semiconductor product assembly, testing, and packaging,” said Balisacan.

He expects the CHIPS Act will lead to more investments in higher value-added segments in the semiconductor supply chain.

“This will also support the country’s efforts to explore and tap into natural reserves of green metals such as nickel, copper, and cobalt. We also see opportunities to strengthen and establish new ties through bilateral agreements, such as those with Qatar and Japan, to promote tourism investments and mutual visits,” Balisacan added.

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