Borrowers who wish to know their creditworthiness can now request for their credit report online, according to the Credit Information Corporation (CIC).
But a report from the World Bank noted that the country’s Internet connectivity – the foundation of the digital economy – is limited in rural areas, and where they are available, services are relatively expensive and of weak quality.
A recent survey conducted by the World Bank (WB) revealed that almost two-thirds of Philippine companies have turned to digital solutions for sales, marketing, and payment methods to adapt to the new normal.
The Philippine Ports Authority (PPA) is conducting a recent test run of the unified electronic ticketing system at the Port of Batangas and the Port of Calapan in Mindoro prior to full rollout next year.
An official of the Bangko Sentral ng Pilipinas (BSP) warned of the risk of financial exclusion of some sectors even as the "new normal" makes going digital imperative.
Acting socio-economic planning secretary and NEDA chief Karl Kendrick Chua said the government must be the one to provide the direction and impetus for innovation to prosper.
Anti-Red Tape Authority (ARTA) said the process of securing permits to install common telco towers has been significantly reduced to 16 days from 241 days following the recent signing of a joint memorandum circular (JMC).
The Intellectual Property Office of the Philippines received 80 reports and complaints of IP violations in the first semester of 2020, 66% higher than the 47 reports received in 2019.
Business groups are urging micro, small, and medium enterprises (MSMEs) to equip themselves with digital skills and tools to remain competitive and survive the current pandemic.
The National Economic and Development Authority (NEDA) has stressed the importance of using digital technologies to ensure price stability and support the agriculture value chain necessary to help build consumer confidence and gradual recovery of the domestic economy.
