PHILIPPINE enterprises are urged to accelerate digital transformation as this can help them take advantage of the benefits of the Regional Comprehensive Economic Partnership (RCEP).
Embracing technology amid the RCEP ratification will help Philippine-based businesses to tap the large market of participating countries, according to digital transformation accelerator Stratpoint Technologies founder and chair Paco Sandeja.
The 15 participating countries in RCEP – Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, the Philippines, Singapore, South Korea, Thailand, and Vietnam – comprised one-third of the world’s population and economy.
Chapter 12 of the RCEP deal is about electronic commerce.
Sandejas said Philippine businesses can be more competitive through digital technology.
Talent and resources are the main challenges for Filipino businesses in starting their digitalization but enterprises have to allocate a part of their resources to get on board with digital transformation, the digital transformation accelerator added. (PNA)/PN
