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Philippines progressing to nationwide digital transformation

Written By Cristina Joy Valerio
Published • June 21st, 2023
FintechNews
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The government of President Ferdinand Marcos Jr. is focusing on a national digital transformation that lays the way for the successful adoption of new technology in addition to the tourism industry.

Marcos has emphasized the necessity of avoiding falling behind other nations in the digitalization and adoption of new technology ever since he gave his first State of the Nation (SONA) address at the start of his term last year. The Department of Information and Communications Technology (DICT) has been assigned by Marcos “to identify and utilize these innovations to improve governance.”

International and local business leaders, inventors, and startups are willing to collaborate with the government on its national digitalization agenda through the administration’s encouragement of innovative technology. The Philippines has made steady progress toward the objective of becoming Southeast Asia’s hub for digital assets and fully digitizing government operations and services ever since.

To raise public awareness and educate the public about cutting-edge technologies and what they can actually do to address pressing problems in the real world, numerous financial technology (fintech), Web3 and blockchain events have been hosted. In order to aid local proponents in developing and implementing these new technologies as well as forming business alliances, many global technology corporations participated in them.

A Memorandum of Understanding (MOU) was signed in January between the Provincial Government of Bataan (PGB) and the international blockchain firm nChain, which will provide blockchain solutions and expert assistance in the digitization of the province’s systems, processes, and services. Bataan, a special economic zone and freeport, aids in the growth and development of the area by luring in foreign businesses.

Bataan Governor Joet Garcia is confident that his province’s partnership with nChain will employ “cutting-edge blockchain technology and improve the efficiency and transparency of our government operations, as well as provide innovative, secure and accessible online services to our citizens.”

Philippines Progressing To Nationwide Digital Transformation

On May 25, the DICT and the Philippine Economic Zone Authority (PEZA) agreed to work together to create a “more synchronized and well-coordinated ICT system in the ecozones,” as well as to advance transparency and enhance data security for the benefit of the government and its people.

“By adopting e-governance and advancing the development of various solutions, together, we can eliminate bureaucratic inefficiencies, reduce red tape, and provide faster and more convenient access to critical government services,” DICT Secretary Ivan John Uy said during the MOU signing in Pasay City.

“We are once again making another breakthrough as we continuously enhance data security, transparency, and government transactions to better serve our ecozone developers, locators, and investors making the country more conducive to do and expand businesses with,” PEZA Director General Tereso Panga added.

The latest government initiative supporting the drive for the digital transformation of the Philippines is the collaboration between PEZA and DICT. The importance of implementing emerging technologies in governance is illustrated by the Southeast Asian archipelago’s increased aggressiveness toward national digitalization and digitization. It also demonstrates the Philippines’ determination to play a bigger role in the emerging digital economy.

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Cristina Joy Valerio

Cristina Joy D. Valerio, more commonly known as CJ to most, is a Multimedia Producer at Yugatech. She has an interest in the evolving world that is technology. Apart from that, she organizes D&D sessions, plays video games, and watches anime to kill time. CJ's alma mater is iACADEMY and graduated with a Bachelor of Science in Information Technology specializing in Web Development.