FILIPINO entrepreneurs can now look forward to a more progressive journey toward financial empowerment with the successful creation of the Department of Information and Communications Technology (DICT).
With technology playing such a big part in the lives of millions of Filipinos these days, the DICT will be highly instrumental in laying down the groundwork for the Filipino entrepreneurs’ foray into global e-commerce. The long-standing relationship between the public and the private sectors is expected to be strengthened further as both parties will play significant roles in advancing the interest of the Filipinos in the digital age.
In a recent interview, Information Secretary Rodolfo A. Salalima said, “The ICT industry is fast becoming the country’s top dollar earner. Its capacity to generate jobs is projected to surpass the big dollar remittances of overseas Filipino workers [OFWs] to the Philippines.”
The DICT’s first objective, as mandated by President Duterte during his first State of the Nation Address, is to develop the country’s “national broadband plan” to accelerate broadband deployment across the nation. This, thought leaders believe, will greatly help Filipino small and medium enterprises (SMEs) confidently take the jump onto the digital platform.
For Filipino entrepreneurs, it is seen to complement the implementation of key initiatives geared toward pursuit of the Department of Trade and Industry’s (DTI) 2020 E- Commerce Road Map.
Genaro V. Lapez, UnionBank of the Philippines EVP, who also happens to be the chief advocate of the UREKA Forum-the Philippines’s most comprehensive e-commerce mass conversion movement, welcomed this development.
“The creation of the DICT is a huge step forward towards realizing this goal, but the real success of this endeavor will also need the all-out support of stakeholders from the private sector,” Lapez said.
“Obviously, a lot of work needs to be done to radically improve our Internet infrastructure and put the Philippines at par with the best in region, if not in the world.”
The partnership between government and the private sector is the catalyst for change the SMEs are looking for, as this allows more Filipino entrepreneurs to gain access to more efficient tools they need to enjoy a rewarding e-commerce journey.
“Technology is a great leveller in the development of business sector as it opens up growth opportunities for entrepreneurs who would not have enjoyed the same opportunity of bringing their businesses to the consciousness of more potential customers,” Lapez said.
The Philippines ranks as the 16th country housing the most number of Internet users worldwide. However, despite being tagged as one of Southeast Asia’s “hottest e-commerce markets,” the Philippines has yet to fully utilize e-commerce as a unique business edge and a significant economic-growth contributor. Unfortunately, only 1 percent of Filipino SMEs have a working website, despite the fact that they comprise over 95 percent of all registered businesses in the country and employ 62 percent of the labor force.
Innovations, indeed, play a big role in the DICT’s development plans aimed at enabling more businesses to engage the rest of the country and the world via technology and e- commerce. Having a governing body dedicated to all things technology can help make the e-commerce a more efficient and rewarding platform for both the Filipino businessman and consumer.
E-commerce advocates like the UREKA Forum and its consortium members hope the DICT can finally provide a lasting solution and empower the entire business value chain to go beyond their growth potential. By making technology and the Internet as key competitive advantages of for every local enterprise and consumer, Filipinos from all walks of life are slowly making e-commerce as the Philippines’ next biggest economic success story.