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Manila fell four places to 125th out of 146 cities in the latest edition of the Smart City Index. This was the Philippine capital’s lowest ranking thus far according to Switzerland-based International Institute for Management Development (IMD).
The Smart City Index measures and rates each city’s level of technological application to the five key areas: health and safety, mobility, activities, opportunity, and governance.
Source: Business World
The Public-Private Partnership (PPP) Center said more smart city projects are needed, citing the need to incorporate advanced technology in key infrastructure projects.
“There is a need for us to develop more digital infrastructure, smart city projects,” PPP Center Director for project development service Raphael M. Badillo said in an online briefing.
Smart City projects refer to the efficient management of infrastructure and public services like mobility, water, and energy.
The PPP Center website lists 18 information and communications technology projects valued at a combined P35.87 billion. The projects are currently in the pipeline or being implemented, the PPP Center said.
“Private sector expertise and efficiencies play a vital role in enabling smart city development since these smart cities heavily depend on technology and innovation,” Mr. Badillo said.
Projects include the P2.10-billion Bacolod Super City Project which was awarded to Highdata Infra Corp.
This project involves a centralized command center for traffic monitoring, natural disasters, criminal activity, emergency response and public alerts. The Bacolod Super City project also includes the installation of video surveillance equipment, deployment of analytics, and the development of comprehensive geographic information system software for the creation of maps, spatial analysis and data integration.
The smart city PPP projects also include the P3.29-billion smart urban mobility proposal of the Metro Pacific Tollways Corp. (MPTC) which is currently being negotiated.
MPTC’s unsolicited proposal for Baguio City involves the financing, design, procurement, construction, and installation of urban mobility solutions, including a congestion fee scheme; traffic enforcement system; parking management system and smart command center.
“The private sector can finance these critical infrastructure development projects to enable this smart city development. We encourage companies expressing interest in pursuing more digital infrastructure because a lot of local government units definitely need these innovations and technological advancements,” Mr. Badillo said.
Source: Business World
The Philippine digital economy is expected to maintain its growth trajectory, driven by e-commerce and the continued development of digital infrastructure.
The e-Conomy SEA report by Google, Temasek Holdings and Bain & Co. found that the Philippine digital economy is projected to grow 20% to $31 billion in terms of gross merchandise value (GMV), making it the fastest-growing digital economy in Southeast Asia.
The report also reiterated earlier market-size forecasts for the Philippines of $80 billion and $150 billion in GMV growth by 2030.
E-commerce will be the main driver for digital economy growth, with the segment projected to post $21 billion in GMV this year, up 23%.
Transport and food are expected to deliver $3 billion worth of GMV this year; while online media and online travel were valued at $4 billion and $3 billion, respectively.
“The increase in digital payment volumes is compelling service providers to maintain competitive fees while enhancing security and service reliability,” it said.
Digital payments are projected to post 22% growth in 2024 to $125 billion in gross transaction value (GTV). By 2030, digital payments are projected at between $200 billion and $300 billion in GTV.
GTV for digital payments includes the value of credit, debit, prepaid card, account-to-account, and e-wallet transactions, according to the report.
Google, the Singapore state investment company Temasek, and consulting firm Bain added that the surge in digital payments in the Philippines is keeping fees competitive while forcing providers to enhance security and service reliability.
“As the digital payments landscape matures and adoption becomes more widespread, e-wallet providers are increasing merchant discount rates,” according to the report.
The expansion of Philippine digital infrastructure is also expected to contribute to the overall digital economy’s growth, with broadband poised to connect even in remote areas.
Source: Business World