Davao City Rep. Paolo Duterte has sought the swift approval of the e-commerce bill to further protect internet transactions and promote internet economy.

Duterte said the proposed Internet Transactions Act (House Bill 3050) will complement the SIM Registration Act that was recently enacted into law.

“In order to protect the merchant and the consumer, an effective regulation of commercial activities through the internet or electronic means must be established,” said Duterte.

The solon said that the measure will promote trust and accountability in the e-commerce market and will encourage micro, small, and medium enterprises (MSMEs) to take advantage of digital innovations to expand their businesses.

HB 3050, Duterte said seeks to ensure that consumer rights and data privacy are protected, innovation is encouraged, fair advertising practices and competition are promoted, online transactions are secured, intellectual property rights are respected and product standards and safety are observed.

The measure will also create the E-Commerce Bureau under the Department of Trade and Industry (DTI) that will act as a virtual one-stop shop tasked to receive, address and facilitate the speedy resolution of consumer complaints on unresolved internet transactions.

Duterte noted that as a result of the pandemic, online retail and other e-commerce services are slowly becoming the norm in the day-to-day lives of many Filipinos, who have found conducting contactless transactions easy and convenient.

Since the start of the pandemic, the country has recorded 12 million new digital consumers based on the 2021 e-Conomy report for Southeast Asia by Google and Temasek.

The same study showed that the $17 billion gross merchandise value (GMV) of the Philippines’ internet economy in 2021 will grow to $40 billion in 2025.