Dominguez invites Alibaba to help build an inclusive financial system in the Philippines

February 17, 2018

Finance Secretary Carlos Dominguez III has invited the Alibaba Group to partner with the Duterte administration and the private sector in building an inclusive financial system in the Philippines that would help fuel growth in rural communities and level the playing field for small businesses.

Dominguez said a closer relationship between the Philippine government and Alibaba is among the ways of further cementing bilateral ties between the Philippines and China on the Duterte watch.

During a closed-door meeting with visiting Philippines government officials in Hangzhou, China  last Feb. 1​, Ma said the Philippines, like other emerging economies, has a “huge potential” to embrace the technology revolution, especially because he believes that e-commerce was specifically designed for developing countries.

“This delegation coming here made a very brave and inspiring step forward to embrace and understand the technology revolution,” said Ma in commending the Philippine government officials and representatives from the business sector led by Dominguez who took part in the New Economy Workshop organized for them by the Alibaba Business School  in its campus in Hangzhou.

“Someday, I think the Alibaba people would be very happy to go to the Philippines to learn from you,” Ma has ​told the members of the delegation. “The Filipinos are a great and kind people and I have a lot of people working together who come from the Philippines. I think they are intelligent, hardworking and professional.”

The three-day New Economy Workshop for Philippine officials held from Jan. 31 to Feb. 2​ was the first overseas government training program organized by the Alibaba Business School, an institution focusing on implementing Alibaba Group’s e-commerce training system and empowering leaders and entrepreneurs across the globe with knowledge and insights on how to succeed in today’s digital era.

The workshop lectures included topics on e-commerce development in China, inclusive finance through digital technologies, rural e-commerce development and smart or data-based logistics in the digital economy. DMS