Arroyo challenges IT industry

"Information and communication technology will play a key role in the development thrust of the new administration," President Arroyo declared at a reception hosted by the Philippines’ first virtual mall, E-Store Exchange.com, laying emphasis on her administration’s vision to boost the IT industry.

The President’s presence at the investment signing ceremony where she delivered a speech underscores the fact that "The partnership is a manifestation of a fired-up economy that is fast gaining the interest of the international community." She referred to the event, which marked the signing of a joint venture agreement between E-Store Exchange.com; Mitsui & Company, Japan’s largest trading firm; Boston Ventures Partners, a company providing financial advice and access to international markets; and GMA Network Inc., the country’s most awarded and second largest television station.

Mitsui & Company and Boston Venture Partners are the first foreign investors to forge a business alliance with a local company under the Arroyo administration. E-Store Exchange.—com’s president and CEO, JJ Soriano, along with the new investors, pledged to strongly participate in the promotion and development of the Philippines’ new economy.

"We are happy to be at the forefront of e-commerce in the Philippines and believe that with all the other dot com and dot net undertakings, we all can help our country achieve greater economic growth with Internet speed," Soriano said.

"The first good news on the IT front this year," was Trade and Industry Secretary Manuel Roxas II’s reaction to the foreign investment made in E-Store Exchange.com. "We believe it signals that the information and communications technology sector will lead the economy in the coming years," he said.

President Arroyo also pointed out that IT will help the Philippines establish its niche in the global village in the 21st century, and that she believes that Filipinos have an edge over their Asian competitors because they are skilled, easily trainable, proficient in English, and are developing a growing spirit of entrepreneurship.

She cited the need to design programs which will ensure the quality of ICT professionals; improve math and science instruction in the elementary and secondary levels; build advanced structures to provide far-flung communities with telephone access; promote legislative measures on mobile security and convergence; and foster a policy of transparency that will nurture the Filipinos’ entrepreneurial spirit.

Japanese Minister and Deputy Chief of Mission, Yoshiyuki Sadaoka, who was present at the signing of the agreement, stated that his government is supportive of the Philippines and foresees the further development of the IT industry, as more Japanese companies play key roles in that field.

Mrs. Arroyo, in turn, assured the new investors that high moral standards will be imposed to ensure the success of all business undertakings, adding that, "We will not only level the playing field in business and economics, but we will also see to it that these sectors are free of unnecessary interference."