MANILA: A House leader on Sunday said President Ferdinand R. Marcos Jr.’s focus on digital reforms and infrastructure is driving growth in Filipinos’ online purchasing power.
According to Philippines News Agency, House Information and Communications Technology (ICT) Committee chairperson and Navotas Rep. Toby Tiangco attributed the growth in digital transactions to the President’s prioritization of information technology as a key economic pillar.
‘President Marcos identified information technology as one of the key pillars of his administration and we are now reaping the benefits of this renewed focus on ICT development and digital transformation,’ Tiangco said.
Tiangco stated that the government has laid a solid foundation for digital economies to prosper by enhancing internet connectivity, expanding access to digital services, strengthening cybersecurity, and streamlining technological processes.
He also noted that effective inflation management, improved public-private sector collaboration, and a drop
in unemployment have supported demand for digital services.
The legislator cited the latest e-Conomy SEA report from Google, Temasek, and Bain and Company showing that the Philippines’ internet economy posted the highest growth rate among six Southeast Asian countries.
Additionally, data from the Bangko Sentral ng Pilipinas revealed that digital payments accounted for 52.8 percent of retail transactions in 2023, up from 42.1 percent in 2022.
“I am confident that these positive trends will continue as the country fully embraces the digital revolution. More importantly, targeted government initiatives will further empower digital economies as drivers of growth,” he said.
Tiangco thanked private sector partners for supporting the government’s mission to position the Philippines as a significant player in the global digital economy.
He urged the Department of Information and Communications Technology and the National Telecommunications Commission to intensify measures against cybercrime, warning of the rise
in sophisticated text scams.
Tiangco further advised the public to remain vigilant against scams disguised as legitimate e-wallet advisories.
