Manila made a huge leap in its startup ecosystem value this year, growing by 85% to post an impressive $3.5 billion from a value of $2.1 billion, according to the 2023 Global Startup Ecosystem Report (GSER).
NEDA secretary Arsenio Balisacan told participants of the Philippine economic briefing held at the Fullerton Singapore on Thursday, June 15, that the government is promoting PPPs as a mode of financing the Infrastructure Flagship Projects (IFPs) and other high-impact projects in physical, digital, and social infrastructure.
The government is losing substantial revenue as it struggles to impose taxes on digital transactions and non-resident digital service providers amid the digital commerce boom, said a law expert at a webinar organized by state think tank Philippine Institute of Development Studies (PIDS).
A UP Law professor explained that the current tax system was developed for brick-and-mortar or traditional businesses with a physical location and is not applicable for e-commerce firms.
The eGov SuperApp, which underwent a lengthy beta test before its launch, brings most online government services in a single platform, including the eTravel system which travelers need to use when leaving or entering the country.
Bangko Sentral ng Pilipinas (BSP) governor Felipe Medalla earlier told the media in an interview in Cebu City that GCash had already reimbursed from its own funds the money taken by the scammers, although it has not publicly acknowledged that a phishing attack had transpired on the e-wallets of GCash users.
