Businesses encourged to accelerate digitalization amid RCEP ratification

Philippine enterprises are urged to accelerate digital transformation as this can help them take advantage of the benefits of the Regional Comprehensive Economic Partnership (RCEP).

Embracing technology amid the RCEP ratification will help Philippine-based businesses to tap the large market of participating countries, according to digital transformation accelerator Stratpoint Technologies founder and chair Paco Sandejas told reporters in a recent interview.

The 15 participating countries in RCEP -- Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, South Korea, Thailand, and Vietnam -- comprised onethird of the world’s popu- lation and economy.

Chapter 12 of the RCEP deal is about electronic commerce.

Sandejas said Philippine businesses can be more competitive through digital technology, and Stratpoint aims to help local businesses accelerate their digital transformation.

Stratpoint chief executive officer MR Dela Cruz said talent and resources

Green lanes to help realize investment pledges from Marcos’ trips, DTI says

The country’s major investment promotion agencies (IPAs), the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) have welcomed the issuance of the Executive Order (EO) No. 18 or the creation of green lanes for strategic investments.

investments,” he said. It was Pascual and the DTI-BOI that recommended the creation of green lanes to President Ferdinand R. Marcos Jr. last October that will help the administration to realize the investment pledges from the Chief Executive’s foreign trips.

are the main challenges for Filipino businesses in starting their digitalization.

But she said enterprises have to allocate a part of their resources to get on board with digital transformation.

“We’ve just scratched the surface of bringing companies to the cloud. It hasn’t been fast enough,” dela Cruz said. “Now, 2023

In a statement Monday, Department of Trade and Industry (DTI) Secretary and BOI chairperson Alfredo Pascual said the green lanes for strategic investments will facilitate ease of doing business and will increase the country’s attractiveness as an investment destination.

“This EO complements our efforts to facilitate a robust economic recovery and expansion. It promotes ease of doing business as national government agencies including its regional and provincial offices, as well as local government units are now mandated to create green lanes that will fast-track the process of securing necessary licenses and permits for strategic

“It was during the meeting that we communicated to the President that several investors are interested to expand operations in the Philippines. Most of them have emphasized the importance of advancing ease of doing business after we have identified barriers across multiple regulatory agencies that hamper the smooth entry of FDIs (foreign direct investments) in the country,” he added.

The new EO will provide ease of doing business for highly desirable projects, FDIs and activities under the Strategic Investment Priority Plan (SIPP).

EO 18 covers all national government agencies, government-owned or -controlled corporations