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Digital Economy in the Philippines

Future growth for the Philippines lies in digital innovations

Jovy Hernandez, SVP and Head of PLDT & Smart Enterprise

In an interview with Global Platform, Jovy Hernandez, Senior Vice President of PLDT Enterprise, talks about leveraging the country’s talented and forward-thinking labour force by introducing new...

Bridging the Digital Divide
Overview

What does a third telecoms provider mean for the Philippines?
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The Philippine authorities have worked to develop the digital economy in recent years, prioritising strengthened internet service provision and a more competitive telecoms market. This proved to be fruitful after the onset of the Covid-19 pandemic in early 2020, which saw an increased reliance on online services
Economic View

Al Panlilio, President and CEO, Smart Communications; and Chief Revenue Officer, PLDT

We have an optimistic view of the second quarter of 2020, as we have seen our revenue continue to increase both year-on-year and quarter-on-quarter. On the consumer side, we have witnessed a significant uptake of data services, while on
Interview

Marc Carrel-Billiard, Global Senior Managing Director and Technology Innovation Lead, Accenture Labs: Interview
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Business as usual is no longer an option. The digital gap widened with the outbreak of Covid-19, and companies are having to accelerate to higher levels of

Economic Update

Covid-19 and the digital divide: how can emerging economies boost their ICT infrastructure?

While the coronavirus pandemic has rapidly accelerated digital transformation around the world, many emerging economies are still afflicted by inadequate ICT infrastructure, limiting their capacity to fully capitalise on the opportunities that

Philippines 2019 Telecoms & ICT
What does a third telecoms provider mean for the Philippines?
Al Panlilio, President and CEO, Smart Communications; and Chief Revenue Officer, PLDT
Marc Carrel
Marc Carrel-Billiard, Global Senior Managing Director and Technology Innovation Lead, Accenture Labs: Interview
Covid-19 and the digital divide: how can emerging economies boost their ICT infrastructure?
 

Case Study

Sucor Asset Management has managed public funds in Indonesia since obtaining an asset management licence in 1999.

Several new partnerships were established with banks and selling agents between 2016 and early 2020, before the Covid-19 pandemic reached the country. In addition to growing the value of the company’s assets under management, these partnerships helped Sucor Asset Management’s customer base shift to the retail segment,
enabled the online onboarding of new customers, and facilitated digital transactions – which proved particularly important during the year amid lockdowns and social-distancing regulations.

The firm implemented remote working early in 2020 to ensure the continuity of business operations. Retaining this model, engagement activities with partners and investors are expected to take place through virtual meetings and social media until at least the end of 2021, at which point Sucor Asset Management plans to continue communications with stakeholders through a variety of channels.

Looking towards potential growth avenues over the course of 2021, an increase in the number of domestic investors is expected to drive expansion in Indonesia’s environmental, social and governance (ESG) arena, as well as in the sharia investment ecosystem. Sucor Asset Management, now having developed the required infrastructure for sustainable investments, intends to launch an ESG fund and sharia products in 2021.

“Aligned with the general industry trend, continuous innovation and consistent performance will remain priorities,” Jemmy Paul Wawointana, CEO of Sucor Asset Management, told OBG. “Despite pandemic-related restrictions and limitations, we will also continue working to increase transparency for the benefit of all stakeholders, as well as boost inclusion through strategies such as financial education programmes delivered via social media.” 

Digital Catalysts and Benefits
Analysis

How is the Philippines' BPO sector faring amid global business disruption?
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Business process outsourcing (BPO) was disrupted by fluctuations in demand and restrictions on the mobility of workers during the early part of the Covid-19 pandemic, but there are signs that new engines of growth are emerging that could bode well for the longer-term development of the sector.
Analysis

Is the heightened demand for e-commerce in the Philippines here to stay?
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In an effort to promote social distancing and restrict the movement of people during the Covid-19 pandemic, retailers selling hardware, clothing and electronics were mandated to close during the Philippines’ strictest lockdown phase.
Covid-19 Response Report

What business opportunities are arising from the disruption of the pandemic in the Philippines?

Although the Philippines has experienced some of Asia’s most stringent coronavirus containment measures and registered one of the highest case counts in the region, it has also maintained a fatality rate below the global average. As

Analysis

New offerings seen from Philippine banks amid Covid-19
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The Philippines is experiencing a boom in digital banking as a result of the Covid-19 pandemic, with several digital-only banks announcing plans to enter the market and legacy banks rapidly upgrading their online offerings. East-West Banking Corporation, the country’s 11th-largest bank by assets,
Economic Update

The new ABCD of global finance, and what it means for emerging markets

One outcome of the coronavirus pandemic has been a massive acceleration of the digital transformation process. Nowhere is this more evident than in the finance industry, where Covid-19 prompted a complete overhaul of legacy processing systems and the widespread implementation of what are known as ABCD

Philippines BPO
How is the Philippines' BPO sector faring amid global business disruption?
Is the heightened demand for e-commerce in the Philippines here to stay?
What business opportunities are arising from the disruption of the pandemic in the Philippines?
New offerings seen from Philippine banks amid Covid-19
The new ABCD of global finance, and what it means for emerging markets
 

Opportunities in Fintech
Economic Update

Can cryptocurrencies drive a Covid-19 recovery in emerging markets?

Demand for Bitcoin has been surging globally since the beginning of the coronavirus pandemic, with interest reaching a fever pitch early this year. While it is not without its potential pitfalls, emerging economies are increasingly looking to cryptocurrencies as a way to drive their recoveries from the economic fallout of the
Interview

Simoun Ung, President and CEO, OmniPay: Interview
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Covid-19-related lockdowns forced many consumers to transact electronically in order to limit physical interaction amid hygiene concerns over handling cash. Prior to the pandemic in 2019, the peso value of electronic transactions through PESON et and InstaPay was roughly on a par with that of ATM cash withdrawals.
Economic Update

How state support and agritech solutions are enhancing the Philippines' food security during Covid-19

With the outbreak of the novel coronavirus disrupting agricultural links to consumers, the Philippine government has sought to bolster food security by providing farmers with financial support and forming new localised supply chains.
Economic Update

Will Covid-19 boost private insurance in the Philippines?

With 273,000 recorded cases and 4700 virus-related deaths as of September 16, the Philippines has been the hardest-hit country in South-east Asia – despite the implementation of stringent lockdowns over the past six months. The spread of the virus has not only placed pressure on hospitals, clinics and staff within the
Economic View

Michael Gorriz, Group Chief Information Officer, Standard Chartered

In Africa, where Standard Chartered opened eight digital banks in 2018-19, the cost to serve is a crucial determining factor when offering banking services. A large part of the continent is underbanked primarily because the cost to serve in Africa is quite high within traditional banking networks, so digital solutions provide the

Can cryptocurrencies drive a Covid-19 recovery in emerging markets?
Simoun Ung, President and CEO, OmniPay: Interview
How state support and agritech solutions are enhancing the Philippines' food security during Covid-19
Will Covid-19 boost private insurance in the Philippines?
Michael Gorriz
Michael Gorriz, Group Chief Information Officer, Standard Chartered
 

Wider Tech Ecosystem

Economic Update

Will South-east Asia’s tech giants turn to SPACs to boost post-pandemic growth?
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outh-east Asia is seeing a wave of interest in special purpose acquisition companies, or SPACs, with various major tech players considering them as a means to fast-track public listings. In parallel to this, several exchanges in the region are moving to allow SPAC listings, with a view to boosting post-coronavirus growth. SPACs are shell companies set up by investors and then listed on a given stock exchange. Their sole function is to acquire a private company, enabling it to go public without having to go through a traditional initial public offering (IPO).

Economic Update

Disrupted by Covid-19, will South-east Asia's super apps join forces?
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After a year of external expansion and internal reorganisation due to Covid-19, South-east Asia’s super apps appear to be looking towards mergers and public listings as a strategy for future development. In early January international media reported that Indonesian ride-hailing and payments giant Gojek was in advanced talks about merging with local e-commerce company Tokopedia, in a deal estimated to be worth $18bn.

Economic Update

How is Covid-19 changing South-east Asia’s super apps?
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In recent years so-called super apps – online or mobile platforms that combine multiple services into one app – have sought to continuously expand their offerings. While many started off with one core business, such as online messaging, ride-hailing or digital payments, they have expanded into increasingly diverse areas. The development of super apps has been more prominent in Asia than anywhere else. Among the world’s largest are Chinese platforms WeChat and Alipay, Indonesia’s Gojek and the Singaporean-headquartered Grab.

Economic Update

Despite Covid-19, South-east Asian investors prepare for a flurry of IPOs
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The onset of Covid-19 gave rise to a dramatic, worldwide decline in IPOs, with April and May registering a 48% decrease in volume and a 67% drop in proceeds compared to the same period last year. IPO activity in June remained muted in the Americas, Europe, the Middle East and Africa. However, listings increased in Asia Pacific compared with the same year-to-date figures in 2019: volume was up 2% and proceeds were up 56%.

Analysis

Indonesia's tech start-ups' role in the economy
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The innovative tech scene in South-east Asia has garnered international attention. A jolt occurred in the international tech industry in early 2018, when the Singapore-based ride-hailing app Grab announced that it would take control of the Southeast Asian operations of its US-based competitor, and global first-mover, Uber. The purchase, which gave Uber a 27.5% stake in Grab, put the spotlight on the increasing competitiveness of tech start-ups across the region.

Economic Update

Covid-19 and cyberattacks: which emerging markets and sectors are most at risk?
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The coronavirus pandemic has helped drive the rapid growth of digital solutions. While this has enabled a number of positive developments, it has also exposed many sectors to a heightened threat of cyberattacks. As lockdowns and curfews were introduced around the world to stop the spread of Covid-19, various aspects of daily life shifted online.

Economic Update

ICT Sector Year in Review 2020
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The shifting of daily life online has been one of the most far-reaching consequences of the coronavirus pandemic. While it is not without its challenges, broad-based digitalisation has helped governments around the world to combat Covid-19, as well as created new growth opportunities for private companies. A widely shared meme repeats the same image of a person sitting in front of a computer under a series of different headings: working, studying, watching TV, socialising and so on. For many, indeed, this has been the reality of 2020.

Featured Sectors in Philippines
Featured Reports in Philippines