Daily TribunePrivate sector businesses are supporting the ITA law, emphasizing its significant role in setting standards and institutionalizing a code of conduct within the e-commerce ecosystem
Photograph Courtesy of PCO
Large companies operating in the country are in support of President Ferdinand "Bongbong" Marcos Jr.'s signing of the Internet Transactions Act which is intended to strengthen e-commerce in the Philippines.
Marcos signed RA 11967 or "An Act Protecting Consumers and Merchants Engaged in Internet Transactions, creating for this purpose the Electronic Commerce Bureau," otherwise known as the Internet Transactions Act last 5 December 2023.
Stakeholders from the private sector, representing digital platforms, e-marketplaces, social media platforms, banks, and digital payment providers, logistics service providers, telcos, fintech, retailers, wholesalers, MSMEs, and enablers, are among those enthusiastically supporting the ITA law, emphasizing its significant role in setting standards and institutionalizing a code of conduct within the e-commerce ecosystem.
Companies backing the Act include Foodpanda, Grab, Lalamove, Lazada, META (Facebook), Pick-a-Roo, PLDT, Shopee, Zalora, Union Bank, industry organizations like the Fintech Alliance, Philippine Retailers Association, Supply Chain Management Association of the Philippines, as well as research institutions such as the UP Law Center, UP Public Administration Research and Extension Services Foundation, donor agencies like the World Bank and USAID through the Regulatory Reform Support Program for National Development, or RESPOND, and Strengthening Private Enterprise for the Digital Economy, or SPEED, Project, as well as advocacy groups such as GoDigital Pilipinas, and Secure Connections.
Boost, safeguard e-commerce transactions
The new law is designed to boost and safeguard e-commerce transactions in the country and is part of the administration's legislative agenda aimed at building trust in e-commerce and ensuring the development and promotion of e-commerce in the country.
Trade Secretary Alfredo Pascual described the Internet Transactions Act as a landmark measure which comes at a time when online selling and online buying are now part of many Filipinos' way of life.
"The Department expresses its gratitude to President Marcos Jr. for championing the Internet Transactions Act as one of the 20 priority bills of his administration. We are likewise grateful for the firm support of both Houses of Congress, particularly to the legislation's main sponsors," he said.
"Under the law, the regulatory framework is set, and powers are provided the Department of Trade and Industry that will allow the Department to effectively protect consumers against unfair trade practices done online. We are particularly looking forward to the creation of an e-commerce bureau that will also provide the DTI with much-needed resources, both human and financial, in implementing our mandate to develop and promote e-commerce in the country," he added.
