February 22, 2024

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The Philippines to Strengthen E-Commerce Partnerships with China

The Philippines and China signed a memorandum of understanding (MoU) on electronic commerce (e-commerce) to strengthen cooperation in the trade sector. The partnership was done during the state visit of President Ferdinand R. Marcos Jr. to China, with DTI Secretary Alfredo Pascual and Chinese Minister of Commerce, Wang Wentao.

Under the MoU, the two countries vowed to promote trade of high-quality featured products and services; pursue business exchange between micro, small and medium enterprises (MSMEs) and e-commerce platforms, start-ups, and logistics service providers; and share best practices and innovative experiences in utilising e-commerce.

“This agreement will make it easier to share experiences, best practices, important information, and trade and e-commerce policies. We anticipate initiatives to promote consumer and merchant protection, intellectual property, data security, and privacy regulations. This MoU will help to strengthen our local enterprises’ ability to compete in the modernising business sector,” DTI Secretary Pascual explained.

The MoU is in line with the agenda of the E-Commerce Philippine 2022 Roadmap, which intends to expand cross-border collaboration and market access through trade agreements and cooperation programmes with important e-commerce trading partners.

The MoU will also push for capacity-building programmes to improve MSMEs’ knowledge and skills to maximise their potential in e-commerce. It establishes the Working Group on Electronic Commerce between Manila and Beijing as a focal point of coordination for the two sides.

Countries in Southeast Asia accelerated their e-commerce business. The White Book on Vietnamese E-business 2022 reported that with online marketplaces now a vital distribution channel in digitalisation, Vietnamese enterprises are investing more in expanding their presence on these platforms. According to the book, those doing business on social networks spurred 41% in 2021 and 57% in 2022.

Despite the pandemic’s impacts in 2020 and 2021, e-commerce has still flourished in Vietnam and is expected to increase by double digits this year, placing it third in Southeast Asia. Moreover, the Vietnamese e-commerce market is predicted to be the fastest-growing in Southeast Asia by 2026. Another 2022 study by a big data analysis company indicated that Vietnam is emerging as the second largest e-commerce market in Southeast Asia, second only after Indonesia.

Meanwhile, the gross merchandise value (GMV) of Indonesia’s digital economy is predicted to rise more than fivefold by 2030, reaching IDR 24 quadrillion (US$1.5 trillion). As a result, the contribution of the digital economy to total GDP increases by 18%, or nearly IDR 4,531 trillion (US$290 trillion). As a result, Indonesia’s digital economy will be worth twice as much as the rest of Southeast Asia.

Bank Indonesia said that considerable e-commerce growth mirrored Indonesia’s trade-side digital economic growth. E-commerce transactions climbed by 22.1% year on year to IDR 227.8 trillion (US$15 trillion) in the first half of 2022, while volume increased by 39.9% to 1.74 million transactions.

In response to the country’s greater and broader expansion of online trading firms, Indonesia’s Ministry of Trade recently updated online trading legislation. Minister Zulkifli Hasan referred to the amended Minister of Trade (Permendag) Number 50 of 2020 on Provisions for Business Licensing, Advertising, Guidance, and Supervision of Business Actors in Trading.

The more equitable treatment of domestic and foreign business actors, as well as formal and informal business actors, should arise from better policy. Improvements will safeguard national interests while also bolstering business actors, local products, and consumer protection; and supporting the expansion of e-commerce in Indonesia to give equal advantages to all parties involved in the electronic commerce ecosystem.

In Thailand, the government created a National Digital ID that allows users to access and authenticate numerous digital services, including e-commerce and financial technology. In addition, the single ID will improve service levels in both the private and public sectors. The ID will gain in the long run from a more flexible, safer, and efficient transportation system that cuts congestion and service costs.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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