The Department of Finance is asking government agencies to streamline their digital efforts for faster revenue collection and an active investment environment.

DoF secretary Ralph Recto conveyed this in a recent Development Academy of the Philippines leadership forum.

“Government offices must rapidly integrate digital technologies across the bureaucracy to enhance the ease of doing business, streamline processes, expedite responses, and promptly deliver public services to our people,” he said through a speech delivered by DoF Assistant Secretary Niño Raymond Alvina.

To achieve these goals, Recto said the government will enhance the mechanism and courses of the Public Management Development Program, a training program that discusses finance management, international and innovation policies, and data-based policy-making among senior to middle managers both in national and local governments.

Unified policy direction

Recto said he expects a “unified policy direction” that will boost government revenue and increase public investments in government and private securities.

He reported that the Bureau of Customs has realized 161 out of its 166 digital projects, which deal with travel declarations, overstaying of cargoes and intelligence activities.

Meanwhile, Recto said the Bureau of the Treasury is upgrading its mobile-based system that allows individual investors to avail of higher-rate government bonds using their smartphones.

Tokenized or digital bonds

Last year, the Treasury debuted its tokenized or digital bonds that ease transfer of ownership rights to investors at the secondary market and break down the bonds into smaller lot sizes.