Strengthening the Philippines' Digital Economy: Internet Transaction Act

AmCham Philippines

AmCham came to life in 1902 as the Manila Coffee Round Table and later as Manila Merchants Association. Incorporated in 1920, it has since then recognized and reconfirmed the commitment of American business to the development and welfare of the Philippines and the Filipino people.

This is a commitment of long-standing, as its mission statement declares:

The Chamber exists to serve the interests of U.S. businesses through the participation of members in promoting their long-term objectives while contributing to the civic and economic development of the Philippines.”

Event Details

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All industries and sectors of society have been afflicted by the damage caused by COVID-19. This health crisis has delivered a negative blow to businesses even if they were big and successful pre-pandemic. The ramifications of the COVID-19 are particularly severe to Small and Medium-Sized Enterprises (SMEs).

COVID-19 also brought an unprecedented change to the workplace. The shift to work from home arrangements and services offered virtually became imperative for businesses to continue to survive. The forced transition expedited their adjustments to deliver the same service with little to no physical contact.

The rapid growth of internet transactions prompted the government to create a bill that will strengthen the Philippine digital economy. Many realized that internet sales and transactions are becoming more of a necessity because it can help drive economic recovery while following quarantine guidelines and without jeopardizing safety. Buyers can purchase while at the comfort of their residences while businesses rely on delivery services to bring the product to their customers.