DTI business name registration for internet sale soars to 68,000

 Business name registration for retail sale via the internet reached over 68,000 with more enterprises and would be entrepreneurs adapting to the opportunities offered by digital technology, according to the Department of Trade and Industry.

In a speech read by DTI Assistant Secretary Mary Jean Pacheco, DTI Secretary Ramon M. Lopez reported this during the Paymaya webinar on “Creating Digital Ecosystems to Jumpstart Local Economies” said that during the community quarantine period there were 1,750 business names registered. This rose to 9,690 in May, a whopping 450 percent increase.

But this peaked with 33,000 business name registration in June alone. As of yesterday, the count has reached over 68,000 business names registered under retail sale via the internet.

“We look at this as a barometer of the booming interest in e-commerce,” said Lopez.

With the robust growth in e-commerce, the DTI has scaled up government interventions. He cited President Duterte’s SONA where the President mentioned the development of e-commerce in the country. Lopez, however, said that DTI is also addressing risks related to security, data privacy and misrepresentation.

The President also declared that the national government shall lead the way in our transition to online systems reiterating his call for all government instrumentalities to implement systems that will make physical queuing a thing of the past.

To build trust and confidence in online transactions, the DTI is working with the private sector and other government agencies including the legislature to safeguard and promote responsible e-commerce.

The DTI is also formulating the e-commerce roadmap with the aim of creating a digital ecosystem to jumpstart local business.

Lopez has urged the local government units to support the e-commerce roadmap and be guided by the strategic framework for a more robust re-ecommerce in the Philippines.