Austrade invites Australian companies with capabilities across AI, Cyber and Blockchain to participate in our upcoming mission to the Philippines from 26-28 February 2025.
In collaboration with State and Territory Governments, Austrade is leading a three day in-market program as part of the Australia Southeast Asia Business Exchange program. This mission is aligned to Australia’s Southeast Asia Economic Strategy to 2040, and aims to create a comprehensive dialogue that fosters collaboration and growth in the tech sectors of both Australia and the Philippines. By bringing together industry leaders and key opinion makers from both nations, the program seeks to address various aspects of the tech landscape, creating opportunities for mutual benefit and innovation.
Why you should participate
The Philippine digital technology sector has been experiencing rapid growth and transformation in recent years, driven by a combination of government initiatives, private sector investments, and changing consumer behaviors. As of 2022, the country's digital economy surged to approximately $36.5 billion, contributing a significant 9.4% to the Gross Domestic Product (GDP).
At the heart of this digital revolution is the Philippines' massive internet user base. As of early 2024, the country boasted 86.98 million internet users, representing a penetration rate of 73.6 percent of the total population.
The Philippine government has recognized the importance of digital transformation in driving economic growth and improving public services. The Philippine Development Plan (PDP) 2023-2028 explicitly identifies digital transformation as a key underlying theme. This has led to various initiatives, including the establishment of more common tower infrastructures to enhance connectivity, the digitalization of business registration processes in local governments, and the integration of online government services into a single platform through the eGov PH Super App.
The mission provides delegates with curated business matching, pitching, site visits and networking events. The mission is designed to deepen their understanding of the business environment in the Philippines, including market briefings and regulatory roundtables
Market Background
Artificial Intelligence
The government has taken proactive steps to position the country as a leader in AI research and development in Southeast Asia. In 2024, the Department of Trade and Industry (DTI) launched the National AI Strategy Roadmap 2.0 (NAISR 2.0) and established the Center for AI Research (CAIR). These initiatives aim to drive AI innovation, bolster the economy, and improve the lives of Filipinos through strategic AI adoption. The roadmap focuses on developing AI capabilities in key sectors such as agriculture, education, healthcare, and manufacturing, while also addressing ethical considerations and promoting responsible AI use.
Cybersecurity
Cybersecurity in the Philippines has gained significant attention in recent years due to the country's rapid digital transformation and increasing cyber threats. The cybersecurity market in the Philippines is expected to grow by 13% to reach $387.10 million by 2028, driven by increasing awareness and the need for robust security measures across various sectors including government, business process outsourcing, finance, and telecommunications.
Blockchain
Blockchain technology is gaining traction in the Philippines, with both the government and private sector exploring its potential applications. The technology is being explored for various use cases, including improving financial inclusion, enhancing supply chain management, and ensuring transparency in government processes. Several blockchain startups have emerged in the country, focusing on areas such as remittances, digital payments, and decentralized finance.
FinTech
The fintech sector in the Philippines has experienced significant growth, expanding by over 38% from 216 companies in 2021 to 299 in 2023. Key subsectors include digital payments, digital banking, mobile wallets, and alternative lending. The government has supported this growth through initiatives like digital banking frameworks and the Digital Payments Transformation Roadmap. Despite challenges such as complex regulations and cybersecurity risks, the sector benefits from a tech-savvy population and increasing internet access. Digital payments lead the sector, with significant contributions from companies like GCash and Maya.
Please note that the expression of interest in NOT yet an official registration to the Tech Mission to the Philippines. Austrade will evaluate all expressions of interest submitted. We will reach out to you to confirm your eligibility, as well as provide information on the next steps for registration and confirmation of participation.
