President Ferdinand Marcos Jr. urged industry leaders on Tuesday to help turn the Philippines into a global financial technology hub, promising the government will build the infrastructure and adopt policies needed to keep pace with fast-changing technologies.
Speaking at the Manila Tech Summit 2025 in Taguig City, Marcos said the country’s digital economy has already “grown by leaps and bounds,” accelerated by the COVID-19 pandemic.
Filipinos have turned to digital wallets, online stores and e-marketing to keep businesses alive, he said, fueling an industry that reached P2.25 trillion in 2024—about 8.5 percent of the country’s gross domestic product—and created 11.3 million jobs.
“Now this ihs a good development, but there is much room for growth,” Marcos said. “We see the greater need to tap the endless possibilities of a truly digital Philippines. We are determined to seize that growth.”
The president thanked “leaders, thinkers and innovators” in the audience, urging them to “make the Philippines a fintech innovation hub and a key voice in shaping the global financial system.”
Building the digital backbone
Marcos pointed to flagship programs already underway: the National Fiber Backbone project, set for completion in 2028, to provide faster internet to 17 million Filipinos; the Philippine Identification System to issue trusted digital IDs; and nationwide initiatives such as Free Wi-Fi for All and the Bayanihan SIM Project to expand access in schools and remote areas.
To strengthen consumer protection, he cited the Anti-Financial Account Scamming Act, the creation of an e-commerce bureau under the Internet Transactions Act, and SIM card registration rules. These, he said, are designed to curb fraud and unsafe online transactions.
Reskilling workers
The president also highlighted efforts to reskill workers for jobs in artificial intelligence, cybersecurity, e-commerce and creative design. “Because the connected nation that we dream of will only come online if we all choose to build it brick by brick, gigabyte by gigabyte,” he said.
However, acknowledging the risk involved, he said the rise of online gambling and the misuse of artificial intelligence in scams and digital currencies have already forced regulators to act, including suspending in-app gambling access in e-wallets.
“Even as artificial intelligence offers breakthroughs, it brings threats of job displacement and the loss of privacy,” Marcos said. “And this is why we must also strengthen our defenses, manage risks, [and] block malicious attempts before they harm our people.”
Opportunities, dangers
Marcos stressed that the government remains committed to both seizing opportunities and managing dangers.
“We envision a Philippines where every Filipino can reach their full potential and where new technologies open wider possibilities for all,” he said.
The Manila Tech Summit — now in its fifth year and themed “Forging a New Global Order: Risks and Opportunities Redefined” — is organized by FinTech Alliance PH, the country’s largest digital industry group representing more than 130 companies that handle 95 percent of digital retail transactions nationwide.
About 1,300 delegates attended this year’s event.
The summit, Marcos said, is more than a showcase of domestic innovation. It is the Philippines’ bid to claim a seat at the table where the rules of the global digital economy are being written.
