Philippine government officials will be attending a three-day lecture series on e-commerce at the Alibaba Business School beginning January 31 through an invitation from Alibaba Group founder Jack Ma, the Department of Finance (DOF) said.
DOF Secretary Carlos G. Dominguez III will be leading the delegation which consists of Bangko Sentral ng Pilipinas (BSP) and Finance officials.
The Finance chief said that they “will look at the financial regulations in China and explore how we can tap digital technologies to empower our MSMEs, especially those in the countryside, the same way that Jack Ma did to help small enterprises in China gain a foothold in the global e-commerce industry”.
Alibaba Business School’s three-day workshop, which was made to fit the Philippines’ situation, the DOF quoted, “will incorporate firsthand experience with real-life e-commerce applications in an effort to provide a framework for creating a regulatory environment that encourages growth across the fintech (financial technology), logistics, e-commerce and big data industries”.
According to the DOF, it was created “to gain a wider understanding of an e-commerce ecosystem including the digital technologies that can be employed to improve the Philippines’ nascent online payment system”.
The lecture series will be covering topics on “e-commerce development in China, inclusive finance through digital technologies; rural e-commerce development, and smart logistics in the digital economy”.
In addition, Alibaba Cloud will also about the use of artificial intelligence (AI) “for smart traffic management”, which the DOF expects to be useful in easing the state of Metro Manila traffic.
Dominguez added that the lecture series is advantageous as the current administration is targeting “a secure, seamless and efficient digital payment system in the country to make it financially inclusive”.
Located just beside the Alibaba Group’s head office in Hangzhou, the Alibaba Business School applies the e-commerce giant’s training system.
The DOF also said in a statement that the Finance chief, with officials from his department, will be meeting with Ma on February 1 “to explore innovations in digital commerce that will help fuel the growth of the Philippines’ micro, small and medium enterprises (MSMEs) and help attain the Duterte administration’s goal of financial inclusion”.
Featured photo from CNBC.com (Photo by David A. Grogan)