Manila: The Philippines has reclaimed its title as Southeast Asia's fastest growing internet economy based on the recent report by Google, Temasek, and Brain and Company. According to the 9th edition of the Google e-Conomy SEA Report, a 20 percent growth of the overall digital economy has been recorded based on Gross Merchandise Value, surging from USD26 billion to USD31 billion in 2024. According to Philippines News Agency, the Department of Trade and Industry (DTI) has attributed the Philippines' resurgence to the Marcos administration's strategic reforms in the digital economy. "The results of the 2024 Google, Temasek, and Bain and Co. Study reaffirm the effectiveness of the administration's digital economy strategies. The country's whole-of-government approach fosters economic growth, drives innovation, and ultimately improves the lives of all Filipinos," DTI Secretary Ma. Cristina Roque said in a statement on Wednesday. Roque lauded the administration's policy and reform implementation, which helped im prove digitalization progress in the country, including the Internet Transactions Act and the 12 percent value-added tax on non-resident digital services. "This collective effort includes the DTI's digitalization of micro, small, and medium enterprises; the DICT (Department of Information and Communication Technology)'s acceleration of digital infrastructure; the BSP (Bangko Sentral ng Pilipinas)'s promotion of digital payments; the DOF (Department of Finance)'s adoption of a digital taxation and customs policy, and the Congress' passage of relevant laws," she said. The report validated the Philippines' upward trajectory in terms of online business transactions, making it one of the leading countries for e-commerce. Despite the milestone, the DTI vowed to continue working on the full implementation of the Internet Transactions Act, with the target development of an 'Online Business Database, an Online Dispute Resolution System, an Online Consumer Complaints mechanism across the whole of government, and an E- commerce Trustmark.' Roque emphasized the crucial role of the private sector in this feat, adding that, "in strong partnership with the private sector, we are actively implementing the e-Commerce Philippines 2028 Roadmap." "This roadmap outlines our strategies to stimulate the growth of e-commerce and build trust between online consumers and businesses. We are committed to a more vibrant e-commerce, recognizing the vast potential of our large, young, and tech-savvy population," she added. She likewise cited the Philippines' thriving e-commerce sector as an enabler of further economic growth, job creation, and increased business and government revenues. Moreover, it sees the country's digital transformation as crucial for boosting our global competitiveness and attracting foreign investment, she added. "The Philippines is strategically positioned to maximize its demographic advantages and technological capabilities and become a dominant force in the global digital economy," she said.