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British Chamber of Commerce Philippines Executive Director and Trustee Chris Nelson
British Chamber/Released
The British Chamber of Commerce of the Philippines (BCCP), a long advocate of the digitalization and ease of doing business, warmly welcomes the ratification of Congress of the Open Access in Data Transmission Act or also known as the Konektadong Pinoy Act.
The bill will be sent to Malacañang which now awaits signing into law by President Ferdinand Marcos Jr.
BCCP Executive Chairman Chris Nelson identified this as a significant move to improve the country’s digital infrastructure and promote a competitive telecommunications sector to further assist in digital transformation, which is also a key agenda of the administration.
The bicameral approved version of the bill identifies that, “The State shall pursue an open-access policy providing an open, accessible, and competitive environment to all qualified participants in all segments of the data transmission network. Further, the State shall encourage investments in the digital infrastructure development of the country by promoting the construction and development of reliable, affordable, open, and accessible data transmission networks comparable to the best in the world.”
The bill also seeks to establish a level-playing field among industry players, making it accessible and affordable for Filipino consumers.
DICT spokesperson Assistant Secretary Renato Paraiso noted that the bill will also reinforce the number of data centers, marking the Philippines as a cyber hub of Southeast Asia and an investment hub in the region.
Fintech companies, among the growing sector for the British business community in the Philippines, also expressed interest and support for the signing of the bill that could promote investment opportunities and financial inclusivity in the country, narrowing the digital and financial gap.
Nelson further added the Chamber’s advocacy as an Anti–Red Tape Authority (ARTA) Champion in further streamlining processes and ease of doing business through digital transactions, which can further attract foreign investors in the Philippines.
Furthermore, the support towards its passage is strongly linked to the Chamber’s support to the passage of the Cybersecurity Act and the E-Governance Act. Nelson reiterated its support for major reforms and key legislative measures aimed at enhancing foreign direct investment in the Philippines.
He emphasized that these efforts, alongside other economic reforms, could significantly improve the overall ease of doing business initiatives.
“It’s about passing legislation, it’s about moving the economy, and getting the growth rate up to 6% or more. UK companies are looking at opportunities in Southeast Asia and in ways where they can do possible trade investment. In that context, we have to keep moving forward on liberalizing the economy,” Nelson noted.
