20K PH SMEs Seen to Transition to e-Commerce in 5 Years

20,000 small and medium enterprises (SMEs) are targeted to transition to e-commerce in the next five years through a program by the Strengthening Private Enterprises for the Digital Economy (SPEED) project.

The project, funded by the United States Agency for International Development (USAID), aims to open three sites for the program launching this year, with one to be opened each for Luzon, Visayas, and Mindanao.

Moreover, the Philippine News Agency reported that the Visayas leg of the program will start with a partnership with the Cebu Chamber of Commerce and Industry (CCCI).

The project will be a supplement to the Nueva Vizcaya Agricultural Terminal, Inc.

USAID launched the SPEED project in the country on January 11, 2023, with PHP1 billion peso (USD18 million) funding and in partnership with the Philippine government to aid SMEs to transition to e-commerce as the country further pushes for digitalization, which became a focus during the onset of the COVID-19 pandemic.

“As we all know, COVID-19 has fundamentally altered the way we do things, accelerating the shift toward e-commerce, digital platforms, and the digital economy of the post-pandemic world,” Ambassador Extraordinary and Plenipotentiary to the Republic of the Philippines MaryKay Loss Carlson said during the project launching in January. (GFB)