Photo Release

February 7, 2023

No holding back on digital economy growth: Senate Majority Leader Joel Villanueva expresses his full support for the passage of Senate Bill No. 1846 or the Internet Transaction Act of 2022 which seeks to protect consumers and merchants engaged in internet transactions and create the Electronic Commerce Bureau. Villanueva, in his co-sponsorship speech, noted the contribution of digital economy to the Philippine gross domestic product amounting to P1.87 trillion in 2021, a significant increase from the P1.73 trillion recorded in 2020. Villanueva said there is no holding back on the growth of digital economy but with it comes inherent risks and loopholes that can be exploited by both consumers and sellers. “The good sponsor, again Mr. President, can expect our full support in seeing to it that the objective of this bill, the protection of both consumers and merchants engaged in digital transactions, come to fruition,” Villanueva said Tuesday, February 7, 2023. (Voltaire F. Domingo/Senate PRIB)