Infra improvements boost e-commerce growth

Infrastructure improvements are among the latest factors that could contribute to the rise of e-commerce in the Philippines while the demographics and the ability of citizens to adapt and respond to current and future innovations. During a virtual conference last Tuesday, August 17, Foxmont Capital Partners Managing Partner Franco Varona stated that while numerous investors are focusing more on Singapore for technology-related investments, the Philippines is starting to make a name for itself in terms of attracting related businesses. He further added that Indonesia’s experience around a decade ago, when they dominated the Southeast Asian technology-related market, may also happen here in the Philippines as the volume of revenue that entered Indonesia is now searching for other areas to invest. Lastly, he stated, “So what does that actually mean for the Philippines? That actually means that the Singaporeans are sitting in Singapore with a lot of capital to deploy, that are looking at other different places that they can do it outside of Indonesia. And this is where, I think, the Philippines becomes extremely interesting.” Varona said the Philippines’ over 109 million population is also a major contributing factor for investors to consider, as more and more Filipinos are now social media-savvy and are purchasing more things online.

 

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