More competition and changes in policies are needed for the Philippines to take advantage of global digitalization amid the pandemic, an economic planning official said.
The National Economic and Development Authority noted the private sector serves as driver in the country’s move toward a digital economy.
The height of the lockdowns last year made e-commerce stronger as many depended on online deliveries to ensure health protocols are being followed.
NEDA Undersecretary Rosemarie Edillon said the entry of more players in the telecoms sector would boost the overall digital landscape in the country. This is possible if changes would be done on the 85-year-old Public Service Act to encourage more investments from overseas.
Once this is enacted into law, the Philippines would be able to attract new investments from foreign firms in the telecoms, transportation and other services, thereby increasing competition.