DTI-BOI, Digital Pilipinas, PH Investment Champions push PHP 1.5 trillion investment target

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Manila, Philippines – With a GDP growth rate of 7.6% in 2022 and a PHP 1.5 trillion investment in progress, the Philippines is poised to become the prime investment and digital bridgeway to the thriving ASEAN region. This was demonstrated by the event co-hosted by Digital Pilipinas and the Department of Trade and Investment – Board of Investments (DTI – BOI) that brought together the country’s leading investment champions and ambassadors in support of the “Make it Happen in the Philippines” campaign.

This year, Digital Pilipinas, the largest private sector-led movement for creating an innovation and technology ecosystem that is actively engaged in a global digital economy, has partnered with DTI to support their “Make it Happen in the Philippines” campaign, which aim to create awareness on the various investment opportunities the country has to offer to the global market.

With the theme “Philippines as the Investment and Digital Bridgeway to ASEAN”, the event gathered industry experts, government officials, investors, and foreign dignitaries to discuss the potential of the Philippines as an investment hub and gateway to both the ASEAN region and the global stage.

Under the leadership of DTI Secretary Alfredo Pascual, DTI-BOI remains committed to advancing initiatives that actively promote investment opportunities for the country’s economic development. Incidentally, this September is the 56th anniversary of the founding of BOI. Secretary Pascual emphasized, “We’re going to launch a platform that will provide massive training to millions of our young people with the support of the tech companies in the United States with our involvement.”

 He further added, “To support this platform, we are putting up what we call the national innovation hub and there will be a physical hub. We’re getting the support of the Asian Development Bank (ADB) with significant funding, and this will house also the Center for Artificial Intelligence (AI) Research that will work on the application of AI in the operations of our small to large businesses.”

One of the champions shaping the Philippine investment landscape, Ambassador Hjayceelyn Aurora Quintana, Permanent Representative of the Philippines to ASEAN, shared her insights, “The Philippine government is implementing several strategies to create the necessary environment to enable the creative industries, information technology and business process management sectors to participate in the global value chains. Among these strategies is making use of a combination of financial and technical support to academic and skills training institutions, business incubators, and startups.”

The occasion also served as the launch of the upcoming Digital Pilipinas Festival x Philippine Fintech Festival Year 2 happening on November 21-24, 2023 at SMX Aura and in various co-located venues and innovation hubs across the country. The festival supports the push for more investments to the country alongside the DTI and various national line agencies. Anticipated to be the biggest gathering of industry leaders and country delegations, the festival aims to set new benchmarks for collaborative progress.

Digital Pilipinas Convenor Amor Maclang affirmed, “We stand united with DTI-BOI as we champion the cause to draw in more investments to the country, underscoring the pivotal role of the Philippines as the gateway to investment and digital connectivity within the ASEAN region. With its strategic location, robust economy, and commitment to technological innovation, the Philippines provides a central access point for investors and digital pioneers to tap into the diverse opportunities across ASEAN nations.”

Happening immediately after the Singapore Fintech Festival and coinciding with the Philippine Startup Week, the line-up of activities during the Digital Pilipinas Festival & Philippine Fintech Festival Year 2 includes several exclusive global enrichment opportunities to foster collaboration and innovation such as the Global Investment Forum, where investors from all over the world meet with startups interested in doing business in ASEAN, and the gathering of the ASEAN member states during the “World, Meet ASEAN: The ASEAN Digital Economies Summit.”

The Digital Pilipinas Festival & Philippine Fintech Festival Year 2 will also serve as the launchpad for several international partnership programs such as the launch of the International Digital Economies Association, and the community launch of the Global Tech Advocates and Tech Philippines Advocates featuring Russ Shaw, Founder of Tech London Advocates and Global Tech Advocates.

Beyond these partnerships, the festival will be an avenue to promote world-class ideas and talent through the ASEAN Startup Village and the Tech Career Expo.

Moreover, the festival will honor the achievements of local and international digital leaders with the Asia Digital Leader Awards by Spark Asia, and the Voice of Digital Pilipinas – Digital Bayanihan Awards.

The Global Fintech Institute (GFI) will also co-lead C-suite masterclasses zeroing in on smart cities and proptech, sustainability tech, fintech and lending, big data and AI, insurtech and healthtech, and trusttech that will be globally certified.

The “Make it Happen in the Philippines” event was graced by ambassadors from Spain, the United Kingdom, Belgium, Canada, Hungary, Papua New Guinea, Romania, Saudi Arabia, Singapore, Thailand, Cambodia, Brunei, Malaysia, and Vietnam, as well as the Consuls of Monaco, Montenegro, Norway, Nigeria, Egypt, and Myanmar. Organizations in attendance included Lufthansa Philippines, Collins Aerospace, Schneider Electric, Transcend Towers Infrastructure (Philippines) Inc. An American Tower Corporation Company, Etiqa Life & General Assurance Philippines, Inc., IT & Business Process Association of the Philippines, Inc., Esquire Financing, Inc., Global Impact FinTech Forum, GROVER Pte Ltd, Prosperna, Dragonpay Corporation, GeiserMaclang Marketing Communications, Inc., SolX Technologies Inc., CyberQ Group, StackTrek, Collabera Digital, KPMG in the Philippines, Foxmont Capital Partners, Xendit, Igloo, Finscore, Tala Financing Philippines Inc., Bosch Philippines, Brankas, and Takeda Healthcare Philippines, Inc.

By creating an environment conducive to investor success and through the collaborative efforts of industry leaders, key stakeholders, and dedicated advocates, the Philippines can be a thriving investment destination. To register for the Digital Pilipinas Festival x Philippine Fintech Festival Year 2, please visit https://digitalpilipinas.ph.

ABOUT DIGITAL PILIPINAS

Digital Pilipinas is now the largest private sector-led movement for creating an innovation and technology ecosystem in the country that is actively engaged in a global digital economy through its domestic and international trajectories.

To learn more about Digital Pilipinas, the Digital Pilipinas Festival and the Philippine Fintech Festival Year 2, visit https://digitalpilipinas.ph/