Digital Economy

Philippine authorities have worked to develop the digital economy in recent years, prioritising strengthened internet service provision and a more competitive telecoms market. The country saw an increased reliance on online services and digital technologies, such as e-commerce, during the its extended lockdown period in response to the Covid-19 pandemic. This increased the impetus for players across the value chain to strengthen ICT infrastructure, fast-track the digitalisation of business processes and prepare to upskill the workforce for the new normal. Meanwhile, the versatility of the business process outsourcing industry during the quarantine period, alongside an expanding start-up ecosystem and the entry of a third telco in 2021, signals potential for the digital economy to enhance the post-pandemic recovery. Measures to accelerate digital development look set to improve the ease of doing business, create a more attractive destination for investment, and ultimately facilitate more inclusive and sustainable economic growth. This chapter contains interviews with Marc Carrel-Billiard, Global Senior Managing Director and Technology Innovation Lead, Accenture Labs; and Simoun Ung, President and CEO, OmniPay.