The Philippine government is ramping up efforts to boost economic growth and is currently focusing on digitalization, seen as a major source of productivity growth, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said Tuesday.
In a briefing at the sidelines of the High-Level Conference Middle-Income Countries (MIC) in Makati City, Balisacan said prioritizing digitalization is part of the government’s efforts to ensure that sources of economic growth will continue to evolve.
“Digitalization, as you have heard, is one of the priorities of this government. That’s clearly going to be a major source of productivity growth,” Balisacan said.
“And it is a top thrust of our government, digitalizing not just in the public sector but also the way the private sector deals with government. Kaya (That’s why) there’s so much effort put into digitalization,” he added.
Digitalization efforts are included in the government’s Philippine Development Plan (PDP).
Balisacan said the digital economy in the country is expected “to be on an uptrend, especially [since] we’re starting from low base compared to our neighbors.”
Aside from digitalization, Balisacan said the government is also improving the investment climate in the country as well as the competitiveness of the country’s exports amid global uncertainties.
The Philippines is aiming to transition to upper-middle income status by 2026. (PNA)
