The NEDA Cagayan Valley (NEDA2) highlighted its commitment to laying the foundation to a safer and resilient Philippines through digital economy.  

NEDA2 conducted the Economic and Financial Literacy (EFL) Virtual Forum on November 25. This year’s theme “E-konomiya: Maingat na Pag-angat, Digital Economy for Safer and Faster Recovery” reflects the government’s commitment to equip people with knowledge to help them make sound financial decision while navigating the pandemic.  

The same was highlighted by NEDA–Central Office Governance Staff Director Thelma C. Manuel in her presentation on the Recharge PH Program. This was formulated by NEDA to refocus and accelerate the implementation of programs to mitigate the impact of the Covid-19 pandemic and reboot the country’s economy. 

Engineer Rey M. Parnacio of the Department of Information and Communications Technology presented the implementation of the Technology Empowerment for Education, Employment, Entrepreneurship and Economic Development (Tech 4ED). The program provides access to computer and internet to the underprivileged and marginalized sectors of the society. The aim is to help these sectors adapt to online school and e-commerce.  

PESONet and InstaPay, two of the widely used electronic fund transfer service, were discussed by the Bangko Sentral ng Pilipinas (BSP) Senior Research Specialist Dante M. Cambri. In comparison to the previous years, the volume of transactions through PESONet and InstaPay had exponentially increased in December 2019. The BSP expects this to increase further this year given the quarantine restrictions which forced the majority of the population to turn to e-commerce and online banking. 

Department of Trade and Industry Region 2 Chief of Staff Michael Paggabao shared the agencies’ programs to build and enhance the e-commerce ecosystem in the region. These include the digitalization of MSMEs and conduct of virtual trade fairs. Department of Science and Technology (DOST) Senior Research Specialist II Christopher Musni also proudly showcased, DOST RO2’s home grown e-commerce platform. was developed by the DOST RO2 headed by Regional Director Sancho A. Mabborang. It helps market local products in the region and aims to incorporate e-commerce in the operation of the region’s MSMEs.  

The Economic and Financial Literacy Act or RA 10922 of 2016 mandates NEDA to lead the celebration of the Economic and Financial Literacy Week (EFLW) every second week of November. This year’s virtual forum was attended by more than 80 participants from different stakeholders in the region, including students from the Western Mindanao State University and UP Los Baños.