NEDA secretary Arsenio Balisacan said 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.
The National Economic and Development Authority (NEDA) has emphasized the need to expand the digital economy, including the digitalization of micro, small, and medium enterprises (MSMEs) and startups, to address the declining labor force and increase labor market gains in 2024 and beyond.
This year’s e-Conomy SEA report from Google, Temasek and Bain & Company, said the Philippine digital economy is set to continue its double-digit growth by 2025, making the Philippines one of the fastest-growing digital economies in Southeast Asia.
The Regional Comprehensive Economic Partnership (RCEP) Agreement, which will take effect early this year, is the first free trade agreement (FTA) of the Philippines with comprehensive provisions on e-commerce.
Jeremille Raton, a digital advocate and business development manager for a Chile-based technology and data science company, said the digital economy’s cross-border nature is crucial to its success.
The “complex and multifaceted” nature of the digital economy creates tax issues, according to a study published by state think tank Philippine Institute for Development Studies (PIDS).
Thomas Abell, chief of Asian Development Bank (ADB)’s Digital Technology for Development, said the world might see an economic boom that will fuel digital economy as countries transition to the so-called ‘new normal’ once “the pandemic starts to recede.”
A study conducted by state think tank Philippine Institute for Development Studies (PIDS) showed that there are certain groups who “benefit more from [the] digital economy”.
The study revealed that 40 million people came online for the first time this year, bringing the total number of Internet users in Southeast Asia to 400 million.
Its Allianz-as-a-Service offers products and services through open APIs (application programming interface) to leverage many technologies, among them Internet of Things (IoT) or blockchain.
