The call for digitalization is real and businesses including micro-enterprises must respond to the challenge, Ferdinand "Perry" Ferrer, who is chairperson of the committee on Digital Innovation and Science and Technology of the Philippine Chamber of Commerce and Industry, said.

The country is falling quite behind in the digitalization race as most of its neighbors made significant advances through the collaboration of their governments and the private sector.

He said that the country's neighbors have fully embraced digitalization since the global pandemic hit.

In an interview with the Daily Tribune's online show Straight Talk, Ferrer said only half of Philippine businesses have embraced financial technologies and the digital economy.

"Half of the Philippines are still not connected. I believe the numbers are 50 to 52 percent of the nation, are still not connected to the Internet, are underserved or have spotty connections," Ferrer lamented.

Connection to the digital world is considered the answer to financial inclusion if only gadgets and strong connections are provided.

"That is where we believe that the Philippines has a significant opportunity to drive economic activity once we connect these entities and these businesses. Imagine the opportunities that neophyte businesses would have once they're connected to the Internet," he said.

Ferrer said a huge opportunity, not just locally but globally, is presented to new business owners if they will use the Internet to promote their brands and services.

"We are happy that President Ferdinand 'Bongbong' Marcos Jr. had stressed, even in his last State of the Nation Address, that digitalization and connectivity are his priorities, and we support that 100 percent," according to Ferrer.

When he spoke at the 77th session of the United Nations General Assembly in New York City, Marcos also stressed his belief that digital transformation would allow the Philippines and other small nations to keep abreast of a changing world.

"Our governance structures must keep up. The world is ready for a transformation. It is up to us as leaders of our nations, to move and shape that transformation," stated Marcos.

"Technologies are rapidly transforming human life and experience. We still barely understand how these transformations are unfolding and where they are leading," he continued.

Marcos added that employing emerging technologies could solve many of the country's problems but could also disrupt the political and social order.

Satellite connectivity steps in

Ferrer said in support of full connectivity, the PCCI has launched a project to connect far-flung areas to the Internet through satellite.

The first phase of the project called Proof of Concept, or POC, will entail the setting up of the Internet via satellite in six geographically isolated and disadvantaged areas, divided equally among the three main islands of Luzon, the Visayas and Mindanao.

The second phase will seek to push the government to have its satellite to connect the entire country to the Internet.

"The Department of ICT is open to looking at all technologies, with the intent to cascade Internet connectivity throughout the Philippines. We have been talking with new players in satellite space. Instead of rushing in, we are incorporating these companies to be part of the POC," he said.