Digital Transformation ng Pilipinas (DigiPinas), a multi-sector initiative led by UBX, is urging the Philippine government to accelerate its digital transformation efforts to tap into the full potential of the country’s growing digital economy. The initiative believes that the government is on the right track in creating a more inclusive digital world, but it must do more to fully cater to its constituents’ needs and support the digital revolution taking place in the country.
According to a 2022 study by Google and Temasek, the Philippine digital economy is valued at US$20B and is projected to reach US$150B in the next decade. The study found that digital retail, online travel, media, payments, transportation, and food deliveries make up the majority of the e-conomy’s value. With more Filipinos adapting to digital technology, the government must address the demand for digital solutions to keep up with the trend.
“The national government is definitely on the right track towards achieving a new digital world where everyone is included. But while the Internet is considered the greatest equalizer, the national and local governments play an important role in driving digital services that fully cater to their constituents on a more intimate scale,” according to Mikan Leachon, DigiPinas Spokesperson.
The reopening of Southeast Asian economies created a significant impact on consumers and the digital economy with the pandemic normalizing online transactions. Google and Temasek data point to a continued growth path for digital transactions despite the resumption of on-ground economic activities. Given this, the Philippine government must quickly address the demand for digital government solutions to complement this uptrend.
DigiPinas is advocating for policies aimed at addressing issues such as low digital adoption, lack of awareness, access gaps, digital skills gaps, and complex regulations. The initiative aims to provide government partners with digital tools and solutions to bring their services closer to the people. UBX, the leading open finance platform in the Philippines, is leading the initiative and offering its expertise in digital financial solutions to national and local governments, especially in rural areas.
UBX, the leading open finance platform in the Philippines, is leading this initiative, providing its expertise in digital financial solutions to the national and local governments, especially those that are in the far-flung and rural municipalities.