Technology undeniably benefits society. Mr. Anthony Patrick Chua, Philippines Lead Staff of the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC), expounded on the topic entitled “Facilitating the digital led transformation in the Philippines’ – Opportunities and Challenges” which covers the following current legislative measures benefitting the Philippines and the region: (1) Public Service Act; (2) Foreign Investment Act; (3) Retail Trade Liberalization Act; and (4) E-Commerce Roadmap.
These are the key strategies and measures of success to achieve the above legislative measures:
Improvement in Internet speed, quality, and connectivity;
Streamlined processing of government permits, i.e., telecom and power;
Facilitation of online transactions in government; and
Uptake in digital tools and technology (digital adoption of MSMEs and consumers).
Digitalization and innovation allows for greater Ease of Doing Business (EOBD), i.e., global supply chain and logistics, particularly goods and services.
Moreover, Mr. Chua highlighted that policy shifts and perspective changes are needed to embrace new technology and business models. It is vital to remain open to taking advantage of the global economy as presented during the Public-Private Dialogue: Innovating Industrial Policy in the Philippines last 09 February 2023 in Makati City. AOB