Makati City: The Philippine government is ramping up efforts to boost economic growth and is currently focusing on digitalization, seen as a major source of productivity growth, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said Tuesday. In a briefing at the sidelines of the High-Level Conference Middle-Income Countries (MIC) in Makati City, Balisacan said prioritizing digitalization is part of the government's efforts to ensure that sources of economic growth will continue to evolve.

According to Philippines News Agency, Balisacan emphasized that digitalization is a top priority for the government, aiming to enhance productivity both in the public and private sectors. He highlighted the significant efforts being put into digitalizing processes across the board. "Digitalization, as you have heard, is one of the priorities of this government. That's clearly going to be a major source of productivity growth," Balisacan stated. He further explained that digitalization is not just limited to public sector operations but also encompasses how the private sector interacts with government entities.

The government's commitment to digitalization is reflected in the Philippine Development Plan (PDP), which outlines strategies to leverage digital technology for economic advancement. Balisacan expressed optimism about the growth potential of the digital economy in the Philippines, noting that the country is starting from a relatively low base compared to its regional neighbors, indicating room for significant growth.

In addition to digitalization, Balisacan mentioned that the government is working to improve the investment climate and enhance the competitiveness of the country's exports, particularly amidst global economic uncertainties. These initiatives are part of a broader strategy to transition the Philippines to upper-middle income status by 2026, a key developmental milestone for the nation.