PBBM attends 5th edition of the Manila Tech Summit 2025

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Transcript

00:00Though the President hailed the huge strides in financial technology in front of thousands of delegates in the 2025 Manila Tech Summit,

00:08he also pointed out the challenges in broadening financial awareness and education through stepped-up connectivity.

00:15Our Kenneth Paciente threshes out more details in the President's speech in this report.

00:22Often busy with her job as an agent in a company,

00:25Chonna finds digital wallets a big help for paying bills and sending money to her relatives.

00:31But she also takes precautions to avoid becoming a victim of scams.

00:44One of the challenges being addressed in the 5th edition of the Manila Tech Summit 2025,

00:49attended by President Ferdinand R. Marcos Jr., is the widespread issue of scams.

00:54The event gathered over 1,000 delegates from 300 organizations to discuss the challenges and issues surrounding financial technology

01:02with the goal of developing solutions and strategies.

01:06According to the President, apart from the benefits of technology and finance,

01:09it is also important to be open to the challenges that come with it.

01:13We must also recognize that progress comes with challenges.

01:17Any powerful tool cuts both ways.

01:19In this digital age, we must become more vigilant against the risks that come with it.

01:26Fraudulent schemes and scams are becoming increasingly sophisticated every day

01:31with the aid of artificial intelligence, with digital currencies, and syndicates that know no frontiers.

01:39Also, even as artificial intelligence offers breakthroughs,

01:43it brings threats of job displacement and the loss of privacy.

01:46Thus, apart from the support of private fintech companies,

01:50the government is also taking steps to ensure the safety of technology users,

01:54especially in financial transactions.

01:56This is why we must also strengthen our defenses,

02:00manage risks, block malicious attempts before they harm our people.

02:05We are implementing the Anti-Financial Account Summary Scamming Act,

02:09created an e-commerce bureau as a one-stop shop for complaints and compliance

02:14under the Internet Transactions Act,

02:16and pursued the Subscriber Identity Module Registration Act

02:20to protect consumers in the digital marketplace from fraud, scams, and unsafe transactions.

02:27Puffa says that in-app gambling access in mobile payment apps and websites

02:30is being suspended as a response to online gambling issues.

02:34He also shared that the country's digital economy performed well last year,

02:38reaching a value of 2.25 trillion pesos,

02:41equivalent to 8.5% of the gross domestic product,

02:45and generated more than 11 million jobs.

02:47Nevertheless, the government will continue its effort to improve performance.

02:52We are determined to seize that growth.

02:54We are investing in the National Fiber Backbone, or NFB,

02:57and once completed by 2028,

03:01the NFB will span the archipelago,

03:03giving 17 million Filipinos faster and more reliable Internet access.

03:08We are also completing our Philippine identification system

03:12to provide every citizen with a trusted digital national ID.

03:18This will make, in fintech parlance, KYC, or Know Your Customer, easier,

03:23and financial services more accessible to more Filipinos.

03:28Aside from this, we are providing Internet connections to all schools

03:31through the Free Wi-Fi for All program,

03:34complemented by the Bayanihan SIM project.

03:37The President also assured the government's commitment

03:39to strengthen the country's digital infrastructure,

03:42not only to deliver faster public services,

03:45but also to make the nation digitally empowered.

03:48Kenneth Pasciente, from the National TV Network,

03:52for a new and better Philippines.

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Transcript

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