‘PHL can be dominant force in global digital economy’

Quick Summary:

THE Philippines can become a "dominant force” in the global digital economy after it emerged as the fastest-growing internet economy in Southeast Asia in 2024, based on the recent report by Google, Temasek and Bain& Company, according to the Department of Trade and Industry (DTI).

Meanwhile, the country posted a 13-percent growth in the Transport and food sector; 13 percent in Online travel and 12 percent in Online media.

For one, it noted, “The government’s enactment of the Internet Transactions Act, requiring all online businesses to register with the Department of Trade and Industry, aims to enhance safety in e-commerce.“These regulations also impose compliance obligations on e-marketplaces and e-merchants alike,” the study added.

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Article Details

Author / Journalist: Andrea E. San Juan

Category: BusinessStartups

Markets: PhilippinesIndonesiaMalaysiaSingaporeThailandVietnam

Topics: Philippines Billion Noted Report Growth 2024 Economy Digital Posted Percent Online

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-06 @ 16:09:00 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 614 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 33 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23449930

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 88 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 11 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #37

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