COVID-19 steered PH to an improved digital economy

COVID-19 steered PH to an improved digital economy

The pandemic-induced lockdowns forced the Philippines’ telcos to improve their internet services and steer the nation into the so-called digital economy, Albay Rep. Joey Salceda said.

Salceda, who is also the chairman of the ways and means committee of the House of Representatives, wants the entry of new telco players for more competition, because fast internet connection has suddenly become a basic commodity.

In a report by Tufts University in Massachusetts and Mastercard Inc., the country ranked 64th on a metric called “digital evolution” and 52nd in terms of “digital momentum” – placing behind Indonesia and Vietnam.

“The internet is the lifeblood of the new economy. If you do not have [a] fast internet, you’re [as] good as finished in the global competition. If we want bigger ambitions for our country, we need faster internet,” Salceda added.

Read more here.