Manila, Philippines – President Ferdinand R. Marcos Jr. expressed optimism about the Philippines' potential to become a significant technological hub, leveraging its young and skilled workforce and advancements in technology. His vision includes positioning the country at the forefront of emerging technologies like artificial intelligence (AI).
According to Philippines News Agency, during a media interview before his departure for Manila, the key to achieving this goal lies in the country's workforce. He emphasized that the young demographic of the Philippines is adept at technology and requires only minimal upskilling to lead in this sector. The President's discussions with various US tech companies focused on how they can assist the Philippines in reaching these objectives. He highlighted the importance of not just applying technologies but also opening markets to different elements of the tech industry, including experts, engineers, and coders.
President Marcos also noted that his team gained insights into the thinking of American planners in the tech industry and the potential role of the Philippines in this arena. He mentioned commitments for continued discussions to detail plans for making the Philippines a technological hub. However, he acknowledged that the country faces challenges, particularly in creating an ecosystem supportive of start-ups, which often have high failure rates. The President stressed the need for an ecosystem that can support and leverage the success of the few start-ups that do become highly successful or 'unicorns.'
During his US visit, President Marcos met with forward-thinking individuals who could aid the Philippines in technology. He concluded by emphasizing the uniqueness of the tech industry, which, unlike traditional industries, doesn't require large capital investments, making it an accessible and promising sector for the Philippines.