THE country’s chief economist is pushing for the establishment of rules-based investment regime and environment conducive to developing the digital economy to ensure robust economic growth benefits to most Filipinos even amid technological change.
Socioeconomic Planning Secretary and National Economic and Development Authority (NEDA) Director General Ernesto Pernia made the proposal in light of the threats to jobs in emerging and developing countries where access to technology is unequal.
“However, the digital economy is also vulnerable to regulatory issues such as data security, intellectual property protection, consumer protection and safeguarding cultural values. Thus, investment promotion agencies, or IPAs (investment promotion agencies), should be more involved in the formulation of digital development strategies,” said Pernia during the 13th World Islamic Economic Forum in Sarawak, Malaysia this week.
Pernia identified opportunities offered by digital economy, including new foreign markets, e-value chain integration, boosting competitiveness and improving government services. rw: wjg