DTI chief urges retailers to accelerate digital transformation
Department of Trade and Industry (DTI) Secretary Alfredo Pascual encourages retailers to accelerate digital adoption and utilize digital payment in their operations.
In the general membership meeting of the Philippine Retailers Association (PRA), Pascual said that the digital transformation of all businesses — from large corporations to micro, small, and medium enterprises (MSMEs) — will help improve productivity, enhance efficiency, reduce costs, and earn more profit.
“Digitizing merchant payments is of utmost importance and that will be an important instrument for facilitating transactions between consumers and retailers…,” he added.
Additionally, the DTI chief is persuading retailers to cooperate with their agency for consumer protection and empowerment, as well as initiating the Philippine Skills Framework for Retailers (PSF-Retailers).
Pascual also encouraged retailers to take advantage of the Retail Trade Liberalization Act (RTLA) by partnering with foreign companies. The DTI chief noted that the enactment of RTLA could bring about PHP54 billion (US$964 million) to the country within five years.
