FINANCE Secretary Carlos Dominguez III has invited the Alibaba Group to team up with the Duterte administration and the private sector in building an inclusive financial system in the Philippines.
Dominguez said in a statement having an inclusive financial system 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 was among the ways of further cementing bilateral ties between the Philippines and China.
Ma, during a closed-door meeting with visiting Philippines government officials in Hangzhou, China on Feb. 1, said the Philippines, like other emerging economies, had 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.