Metro Manila — The current administration under President Marcos is being encouraged to enhance the nation’s digital infrastructure, a move seen as pivotal in making Philippine startup companies key players in economic development.
Angkas, a tech startup in the motorcycle taxi industry, made this appeal, representing the Philippines at the Asia-Pacific Economic Cooperation (APEC) CEO Summit, which took place from November 14 to 17 in San Francisco, California.
President Ferdinand Marcos Jr. emphasized the importance of digital tools in advancing the nation’s educational and financial sectors. Echoing this sentiment, Angkas CEO George Royeca pointed out that other sectors, including transportation, stand to gain significantly from digital advancements.
Royeca stressed, “The adoption of a strong digital infrastructure is essential not only in education and financial services but also in creating a more effective and productive society overall.”
He noted that the Philippines’ involvement in APEC has paved the way for startups to engage with global companies, opening doors to numerous possibilities.
The Department of Trade and Industry aims to grow the national startup ecosystem to a valuation of $10 billion by the end of President Marcos’ tenure.
Government statistics reveal that micro, small, and medium enterprises make up 99.5% of all businesses in the Philippines, indicating the substantial impact a fortified digital framework could have on the economy.