The Philippines is aiming to attract small and high technology investors to set up business in the country following the launch of the National Intellectual Property Strategy (NIPS) 2020-2025.
Among the regions, the highest percentage utilization of e-commerce via Internet was recorded in ARMM, in which one out of three establishments reported purchased of goods or services via Internet translating to 33.3 percent.
The DTI’s Export Marketing Bureau has urged domestic businesses, particularly exporters, to utilize an online tool called “Tradeline Philippines” to access world trade statistics.
The Philippine Institute of Development Studies (PIDS) said the online platform economy faces a number of challenges as it continues to reshape the way people do business.
Cobena Business Analytics and Strategy (CBAS) president and CEO Francis Del Val stressed that bigger is not necessarily better when it comes to digital transformation.
The Institute of Corporate Directors (ICC) has encouraged domestic small and medium enterprises (SMEs) the need to undergo digital transformation to harness the benefits of technological developments under the new globalization era.
The digital exports of the Philippine are projected to grow rapidly by 218 percent to hit $11.3 billion by 2030 if the country would adopt domestic legislation and international agreements on digital trade.
A survey conducted by AIM found that for SMEs, regulatory compliance was perceived to be "moderately burdensome," with the BIR and LGUs seen as among the most difficult agencies to deal with.
A recent study by the Philippine Institute for Development Studies (PIDS) revealed that certain policies and regulators have limited the ICT sector from gaining its full potential.
NEDA chief Ernesto Pernia said the Philippine Innovation Act will be a landmark legislation because innovation is an important driver of long-term growth, and that science and technology is key to making the Philippines a more competitive player in the global knowledge arena.
