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Online entrepreneurship on a budget

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As the Philippines surges forward in the digital era, now is the time for aspiring entrepreneurs to dive into the digital marketplace, leverage its vast opportunities, and mitigate risks with informed strategies, according to the Philippine E-Commerce Association (PECA).

“E-commerce is one of the best opportunities for anyone to start a business,” said Kyle Matthew C. Jarque, communications director at PECA, in a virtual interview with BusinessWorld on Monday.

“Not only can you start with low capital, but you also don’t need to think about renovations, permanent structures, or even manpower. Essentially, you can use the people you have at home,” he added.

In acquiring supply, business owners can even opt to prioritize getting orders before purchasing from their suppliers as this will require less capital when it is time to scale up the business.

“With e-commerce, you can actually sell the product first and buy it later. You can tell your supplier you’ll sell it first and then buy it once you get customers,” he said.

“Only in e-commerce can you sell products with only visuals.” He added that business owners can opt to do it for free on their own using free tools on the internet like Canva, but hiring someone more experienced in graphic design to create a mockup of the product will give the business an edge against competitors.

“I would say you’re already ahead of everyone else because you’re already asking an expert to do it for you,” he said.

Another part of promotion is generating traffic for the product on social media platforms. 

“Admittedly, with as little as P10,000, you can start your online business. All you need is your product and your social media page, and that’s it. And maybe some skills to talk to people. But in itself, if you can just constantly post on social media, you’ll definitely be able to get the sales and validate your offer,” Mr. Jarque said.

While P10,000 should be enough to start, P30,000 would give the business a bigger buffer for failures and options, he added.

“Let’s say, for example, you want to start your own brand, then probably a P30,000 budget would be better for you. With P10,000, you can opt for pre-made stuff; typical buy and sell, or you can be a distributor of existing brands and all you need to do is sell,” he said.

There are multiple industries for reselling or distributing where a P10,000 starting budget will be sufficient, such as skin care, food, or supplements, he noted.

“At the end of the day, it’s really about starting your business because from there, you’ll learn how to be in business.” — Aaron Michael C. Sy

Chezka Centeno wins WPA World 10-Ball Women’s Championship

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THE WPA World 10-Ball Women’s Championship trophy has returned to where it originally belonged, the planet’s billiards epicenter Philippines.

It was signed, sealed and delivered by an extraordinary lady from Zamboanga City who dared to dream it — Chezka Centeno.

Or world champion Chezka Centeno.

Beating legends after legends, Ms. Centeno punctuated her fairy tale story with a 9-5 decimation of three-time world 9-ball titlist Yu Han of China on a magical Sunday night to remember in Klagenfurt, Austria and crowned herself the globe’s new 10-ball queen.

The many-time Southeast Asian Games gold winner was nothing short of electric in her disposal of Ms. Yu, seizing a commanding 4-1 edge that the latter never relinquished as she unveiled one spectacular shot after another in a near flawless performance that netted her $50,000 (P2.8 million), or the biggest purse in the history of women’s pool.

When she drained the final ball, Ms. Centeno screamed in jubilation, shook the hands of Ms. Yu, bowed to a group of loud and appreciative crowd that included flag-waving Filipinos, and, when it all sank in, shed tears of joy.

Minutes later, Rubilen Amit, a two-time world 10-ball titlist including the event’s first in 2009 and Ms. Centeno’s mentor and idol, gave the latter the Philippine flag that she draped over her slim, shaking body as she cried again from the overwhelming emotion that had engulfed her.

“It was my dream to be world champion,” she said crying and laughing at the same time while being interviewed by the game announcer with Ms. Amit, herself in tears, by her side.

It was a moment that reverberated back home to 113.9 million sports glory-hungry Filipinos who woke up with the wonderful news on Sunday (Oct. 22).

It was a Cinderella finish that Ms. Centeno laced with equally mammoth triumphs over world pool icons Allison Fisher of England twice, the first coming in the elimination round and the other in the semis, last year’s winner Chou Chieh-Yu of Chinese Taipei in the quarters and Ms. Yu.

Her victory over Ms. Yu also avenged Ms. Amit’s stinging 9-3 setback in the quarters that shut the door and denied the latter’s bid to claim her first crown after last ruling it exactly a decade ago.

Ms. Centeno, however, made sure it landed in her possession and back home into a tiny archipelagic nation that already produced a row of world beaters headed by Efren “Bata” Reyes and Francisco “Django” Bustamante.

And it all started 19 years ago in dimly-lit pool halls in her hometown in Zamboanga City where she had to step on beer cases just to reach her shots.

“This journey started when I was a five-year-old with a dream, and today (Sunday), I’m living it,” she later posted on her Facebook account. “It’s a surreal moment that brings back memories of countless hours of hard work, tears, and disappointments.”

“They’re all worth it,” she added while thanking God, family, friends and supporters.

It sure does. — Joey Villar

JRU vs LPU open NCAA second round of eliminations

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Games Tuesday
(Filoil EcoOil Arena)
2 p.m. — JRU vs LPU
4 p.m. — EAC vs San Sebastian

JOSE Rizal University (JRU) and Lyceum of the Philippines University (LPU), both determined to end its title drought, go at it for a second time in a week in today’s (Oct. 24) start of the second round NCAA Season 99 eliminations at the Filoil EcoOil Arena.

The Bombers got the better of the Pirates in an epic 88-87 double overtime victory a week ago that opened a two-game streak and paved the way for the former to catch up on the latter at No. 3 with identical 6-3 records.

It sent LPU to its third straight loss after starting the season with six triumphs in a row.

Game time is at 2 p.m.

Regardless of the streaks and skeins, both the school remained in title contention with the Bombers eyeing their first crown since winning it all over half a century back and the Pirates gunning for their historic NCAA trophy since joining the league more than a decade ago.

And JRU coach Louis Gonzales already knew what’s coming.

“We’re expecting them (LPU) to come out strong and prepared,” said Mr. Gonzales.

Marwin Dionisio, who was painfully inconsistent in JRU’s first eight games, found his touch on this one and buried nine of the 11 shots he took including three booming treys while adding four rebounds, three assists and a pair of blocks without turning the ball over even once.

In the other game, Emilio Aguinaldo College or EAC (5-4) and San Sebastian College-Recoletos (3-6) tangle at 4 p.m.

The Jerson Cabiltes-coached Generals are eyeing to remain at No. 5 while John Kallos and his Stags hope to light up their dimming Final Four aspiration. — Joey Villar

Adamson, UST advance to SSL Season 2 quarters with win-once incentives

ADAMSON University turned back College of St. Benilde, 25-18, 10-25, 17-25, 25-18, 15-8, while University of Santo Tomas drubbed Ateneo de Manila University, 25-15, 25-21, 25-18, to clinch the last quarterfinal incentives in the Shakey’s Super League (SSL) Collegiate Pre-Season Championship Season 2 over the weekend at the Rizal Memorial Coliseum in Manila.

The Lady Falcons wrapped up their playoff campaign at 5-1 to finish behind Far Eastern University or FEU (5-1) in Pool F as the Golden Tigresses (5-1) joined reigning champion National University or NU (6-0) as leaders in Pool E.

All four squads will sport win-once bonuses in the crossover quarterfinals against lower-ranked teams in both pools at the end of the preliminary round and the playoff groupings.

NU tangles with UE (No. 4 in Pool F), FEU clashes against Ateneo (No. 4 in Pool E), Santo Tomas battles St. Benilde (No. 3 in Pool F) and Adamson collides with Arellano University  (No. 3 in Pool E) in the quarterfinals this weekend.

Maria Rochelle Lalongisip sizzled with a career-high of 21 points on 18 hits, two aces and a block as Adamson erased a 1-2 set deficit against the team of its former coach Jerry Yee.

For Santo Tomas, Cassie Carballo tallied 15 excellent sets to command a scattered attack from Jonna Perdido (9), Kyla Cordora (7), Mary Banagua (6), Regina Jurado (6), Angeline Poyos (5) and Athena Abbu (5). — John Bryan Ulanday

Wong, Tabugara snare wushu silver medal in World Combat Games

AGATA WONG — PHILIPPINE STAR/ EFIGENIO TOLEDO IV

THE PHILIPPINES’ Agatha Wong and Clemente Tabugara, Jr. each copped a silver medal in wushu of the World Combat Games at Riyadh, Saudi Arabia over the weekend.

Ms. Wong elicited 19.486 points that nabbed her the silver in the women’s Taolu Taijiquan and Taijijian where she had identical 9.743s in finishing behind eventual winner Hu Shuting of China, who mustered a 19.533.

The effort made up for Ms. Wong’s heartbreaking effort in last May’s Phnom Penh Southeast Asian Games where she wound up seventh and medal-less for the first time after five gold medals.

Mr. Tagubara, for his part, succumbed to Egyptian Elsayed Mohsen in the men’s 65-kilogram finale, 2-0.

Jones Llabres Inso and Thornton Sayan delivered a bronze apiece in the men’s Taolu Taijiquan and Taijijian and men’s Taolu Nanquan and Nangun, respectively.

And possibly, there’s more coming SEA Games gold winners Jenna Kaila Napolis from jiu-jitsu and Gretel De Paz from kickboxing and world champion Philip Delarmino of muay thai. — Joey Villar

Smart Giga Arena Gamerfest grand finals at SM Mega Trade

SMART Communications held the grand finals of the Smart Giga Arena Gamerfest at the Mega Trade Hall 2 of the SM Megamall over the weekend in Mandaluyong City with hundreds of participants.

The Giga Arena is a popular online arcade and e-Sport tournament platform exclusively available to Smart wireless subscribers that was launched just last year and is now widely played by gamers in the country.

“We just recently started and we now have two million views at the Smart Giga Arena,” said Melvin Sixto Nubla, Smart first vice president and head of consumer marketing and subscription base management.

Smart Senior Vice President and Consumer Business Individual Head Alejandro Caeg and AC Valdenor, Dark League Studios chief executive officer, also graced the Sunday festivities.

Apart from the Smart Giga Arena Gamerfest’s Ultimate Battleground Championships, Smart also raffled off cool prizes from vouchers to headphones and other gamer kits.

It also held a Cosplay competition and a meet and greet with the Smart Giga Arena squad.

Lucky fans also got the chance to participate in a showdown with Smart Omega.

Also in the event was Al Chua, the Ginebra San Miguel team governor and manager of the Gilas Pilipinas team that struck gold in the Hangzhou Asian Games. — Joey Villar

Indonesia easily defeats PHL in futsal finale, 5-2

HOST Philippines settled for runner-up honors in the PFF Women’s Tri Nation Futsal Invitational 2023 after conceding a 2-5 loss to Indonesia in Sunday night’s finale at the Ninoy Aquino Stadium.

The Pinay 5 stayed within striking distance of the more-experienced Puri Merah Putih but fell short amid Fitri Rosdiana’s two-goal binge in the last 6:38.

“We definitely gave them a good fight!” the Philippine Football Federation said of the team, which finished ahead of New Zealand in the three-country meet.

The Pinay 5 previously stunned the Futsal Ferns in a playoff, 1-0, to earn the right to face the Putri Merah Putih, who gained an outright ticket to the championship game with their 2-0 sweep of the elims.

Indonesia jumped the gun on the Philippines with Alya Hendrita blasting the ball into the back of the net barely 30 seconds in. Novita Murni made it 2-0 eight minutes later with her long-distance strike.

No-quit Philippines broke through the Indonesian defense six minutes before intermission with Isabela Bandoja converting Hannah Marie Muros’ assist to the delight of the home crowd.

Indonesia restored a 3-1 cushion five minutes after restart as Insyafadya Saksabillah scored on transition.

The Pinay 5 cut it down to one anew with still 10:30 left after a crafty strike by Agot Danton. However, the hosts couldn’t follow through even as Rosdiana struck off a corner for a 4-2 breathing room then put the finishing touches with goal No. 2 in the dying seconds. — Olmin Leyba

Argentina’s Peronists soar in polls to seal runoff with Milei

AN ARGENTINIAN FLAG waves at the Presidential Palace Casa Rosada in Buenos Aires, Argentina, Oct. 29, 2019. — REUTERS

BUENOS AIRES – Argentina’s ruling Peronist coalition smashed expectations to lead the country’s general election on Sunday, setting the stage for a polarized runoff vote next month between Economy Minister Sergio Massa and far-right libertarian radical Javier Milei.

Mr. Massa had 36.6% of the vote, ahead of Mr. Milei on just over 30%, while conservative Patricia Bullrich was behind on 23.8% with nearly 98% of the vote counted, a result that defied pre-election polls that had predicted a libertarian win.

The surprise strength of the Peronists, despite overseeing inflation hitting triple digits for the first time since 1991, sets up an intriguing second round on Nov. 19 between two polar opposite economic models for the embattled country.

The result eases concerns about a radical shift in policies in the event of a decisive win for Mr. Milei who has proposed dollarizing the economy and shutting the central bank, but it still leaves the country with few answers to its worst economic crisis in two decades.

Argentines had flocked to the polls on Sunday amid the economic woes and rising anger with the traditional elite.

“I know that many of those who voted for us are the ones who are suffering the most,” Mr. Massa said after the results. “Our country is experiencing a complex, difficult situation, full of challenges to face… I am not going to fail them.”

Many blamed the Peronists, but Mr. Massa — a moderate — had shot back that the government’s social safety nets and subsidies were key for many hard-up Argentines, including a recent stunt showing how train and bus fares could rise sharply if he lost.

That message seems to have hit home.

“Peronism is the only space that offers the possibility that the poorest of us can have basic things at our fingertips,” said bricklayer Carlos Gutierrez, 61, as he went to vote on Sunday.

Mr. Milei, meanwhile, is proposing radical moves such as dollarizing the economy and has criticized major trade partners China and Brazil. He also is in favor of slashing the size of government and is anti-abortion.

To win outright on Sunday, a candidate would have needed over 45% of the vote or 40% and a 10-point lead.

The result, leaving things delicately poised and pushing out of the race establishment candidate Ms. Bullrich, will likely give already wobbly markets the jitters on Monday, with little clarity about the country’s route forward.

“We have never had so much polarization,” said 72-year-old pensioner Silvia Monto as she voted in Buenos Aires on Sunday.

‘SINKING US A LITTLE MORE’
Mr. Milei has pledged to “chainsaw” the economic and political status quo, luring some angry voters to his tear-it-all-down message, fed up with rising prices outstripping salaries.

“He is the only one who understands the situation in the country and understands how to save it,” said Buenos Aires student Nicolas Mercado, 22.

Milei, in a defiant speech after the result, said he would fight on to win in the second round next month.

“We are faced with the most important election of the last 100 years,” he said. “If we work together we can win, if we work together we can recover our country.”

Election authorities said turnout was around 74%, up from the August primaries, but considerably lower than the 81% participation at the last election and the lowest general election turnout since the 1983 return to democracy.

Whoever emerges victorious will have to deal with an economy on life support: central bank reserves are empty, recession is expected after a major drought, and a $44-billion program with the International Monetary Fund   is wobbling.

Silvana Dezilio, 37, a housewife in Buenos Aires province, said it was hard to see a positive outcome whoever won.

“All governments promise things and end up sinking us a little more. It seems unbelievable, but we are getting worse and worse. We read that other countries have overcome the problems that for us are getting worse every day,” she said. — Reuters

Israel bombards Gaza, Lebanon as Netanyahu convenes war cabinet

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GAZA/JERUSALEM — Israel bombarded Gaza with air strikes early on Monday and its aircraft struck southern Lebanon overnight, as Israeli Prime Minister Benjamin Netanyahu convened a meeting of his top generals and his war cabinet to assess the escalating conflict.

Israel’s attacks concentrated on the Gaza Strip’s center and north, Palestinian media reported. A strike on a house near the Jabalia refugee camp, in northern Gaza, killed several Palestinians and wounded others, according to media reports.

In the Israeli-occupied West Bank, two Palestinians were killed at the Jalazone refugee camp near Ramallah, the Palestinian health ministry said on Monday.

Residents told Reuters that Israeli forces raided the camp and carried out widespread arrests, as they clashed with gunmen and some youths who threw stones. The Israeli army has not issued a statement about the incident.

Health authorities in Gaza said at least 4,600 people were killed in Israel’s two-week bombardment that began after a Hamas Oct. 7 rampage on southern Israeli communities in which 1,400 people were killed and 212 were taken into Gaza as hostages.

Palestinian Hamas leader Ismail Haniyeh and Iranian Foreign Minister Hossein Amirabdollahian discussed in a call late on Sunday the means of stopping Israel’s “brutal crimes” in Gaza, Hamas said in a statement.

Israel has amassed tanks and troops near the fenced border around Gaza for a planned ground invasion aiming to annihilate Hamas.

Fears that the Israel-Hamas war could mushroom into a wider Middle East conflict rose over the weekend with Washington warning of a significant risk to US interests in the region and announcing a new deployment of advanced air defenses.

The Pentagon has already dispatched a significant amount of naval power to the Middle East, including two aircraft carriers, support ships and about 2,000 Marines, to help deter attacks by Iran-affiliated forces.

“What we’re seeing … is the prospect of a significant escalation of attacks on our troops and our people throughout the region,” US Defense Secretary Lloyd Austin told ABC’s This Week program on Sunday.

China’s Middle East special envoy Zhai Jun, who is visiting the region, warned that the risk of a large-scale ground conflict was rising and that spillover conflicts in the region were “worrisome,” Chinese state media said on Monday.

Iranian security officials told Reuters Iran’s strategy was for Middle East proxies like Hezbollah to pursue limited strikes on Israeli and US targets but to avoid a major escalation that would draw in Tehran, a high-wire act for the Islamic Republic.

In neighboring Syria, where Hamas’ main regional backer Iran has a military presence, Israeli missiles hit Damascus and Aleppo international airports early on Sunday, putting both out of service and killing two workers, Syrian state media said.

Along Israel’s northern border with Lebanon, the Iran-backed Hezbollah group has clashed with Israeli forces in support of Hamas in the deadliest escalation of frontier violence since an Israel-Hezbollah war in 2006.

Early on Monday, Israeli aircraft struck two Hezbollah cells in Lebanon that were planning to launch anti-tank missiles and rockets toward Israel, its military said. Israel’s military also said it struck other Hezbollah targets, including a compound and an observation post.

Hezbollah said on Monday that one of its fighters was killed, without providing details. Israel’s military said 7 troops have been killed on the Lebanese border since the latest conflict began.

With violence around its heavily guarded borders increasing, Israel on Sunday added 14 communities close to Lebanon and Syria to its evacuation contingency plan in the north of the country.

MORE AID ARRIVES IN GAZA
Palestinian Prime Minister Mohammad Shtayyeh called on the international community to create “a united front” to stop Israel’s attacks in Gaza and allow desperately needed aid which has only begun to trickle in.

A second convoy of 14 aid trucks entered the Rafah crossing to the besieged Gaza Strip on Sunday night, and US President Joseph R. Biden and Mr. Netanyahu affirmed in a call “there will now be continued flow of this critical assistance into Gaza,” the White House said.

The U.N. humanitarian office said the volume of aid entering so far was just 4% of the daily average before the hostilities and a fraction of what was needed with food, water, medicines and fuel stocks running out.

Mr. Biden also ramped up his diplomacy, convening calls on Sunday with Netanyahu and Pope Francis and speaking with the leaders of Canada, France, Britain, Germany, Italy and Britain about getting aid into Gaza and preventing the conflict from spreading.

In a joint statement, the leaders voiced support for Israel’s right to defend itself. They also called for adherence to international humanitarian law, including the protection of civilians.

Mr. Netanyahu also held a phone call with the leaders of France, Spain and the Netherlands late on Sunday, the Israeli leader’s office said. — Reuters

France boosts air, rail security amid rise in bomb hoaxes

REUTERS

PARIS — France, already on its highest security alert, is to boost security at airports around the capital and on trains after a wave of bomb hoaxes, the transport minister said on Sunday.

Security patrols at Paris airports will be increased by 40% and staff at the national railway company SNCF will be reinforced by 20% in addition to extra police patrolling railway stations, minister Clement Beaune said on France Inter.

France has been on its highest alert since Oct. 13 after a 20-year-old man fatally stabbed a teacher in the city of Arras in northern France.

“Transport (networks) have been places that have seen heavy tolls in attacks in the history of our country and in Europe,” said Mr. Beaune.

Alongside the heightened risk, there were “people who are playing with fear,” he said, referring to the wave of fake bomb alerts that have hit transport networks, schools and cultural centers over the last week.

Since last Wednesday, there have been 70 bomb hoaxes in airports in France, he said, adding that almost all of these alerts were sent from the same Swiss-based email address.

False alerts are generally punishable by two years in prison and a 30,000-euro fine. This can rise to three years in prison and a 45,000 euro fine if the alert includes a threat.

Mr. Beaune told France Inter that hoaxes are not “small jokes, they are serious crimes” and that they will be investigated.

The Palace of Versailles outside Paris was evacuated for security reasons at midday on Sunday for the seventh time in the last eight days, re-opening two hours later after checks were made, a spokesperson said. — Reuters

Three listed Chinese firms used endangered animal parts as ingredients- report

EN.WIKIPEDIA.ORG

SHANGHAI/HONG KONG — Three publicly traded Chinese drugmakers which count global banks such as UBS and HSBC as investors have used parts of endangered animals as ingredients in their products, an environmental group said.

In a report published Monday, the London-based Environmental Investigation Agency urged global investors in the three firms – Beijing Tong Ren Tang group, Tianjin Pharmaceutical group and Jilin Aodong Pharmaceutical Group – to divest their stakes.

The three companies are among a list of 72 firms the environmental non-profit organization (NGO) said used body parts of threatened leopards and pangolins as ingredients in at least 88 traditional Chinese medicine (TCM) products.

The group said it focused on the pharmaceutical companies because they are publicly listed, and display products that include leopard or pangolin parts on their websites.

TCM products are known for using a wide variety of animal parts as ingredients, and manufacturers often publicly tout the efficacy of such ingredients and list them in on their product packages.

“It’s particularly disappointing to see so many major banks and financial institutions effectively endorsing this damaging exploitation,” said Avinash Basker, a legal and policy specialist for the NGO, in a media release.

“They need to divest from TCM manufacturers using threatened species at the soonest opportunity.”

Beijing Tong Ren Tang and Tianjin Pharmaceutical group did not respond to several emails and calls from Reuters asking for comment. Jilin Aodong Pharmaceutical Group could not be reached for comment.

The NGO said 62 financial institutions have invested an unspecified amount in at least one of the three firms, and include UBS, Deutsche Bank, HSBC Holdings, Citigroup and BlackRock.

Some investors, including Wells Fargo & Co said they had either sold the funds which were invested in the TCM firms or had sold their shares in the companies, the agency said.

HSBC Global Asset Management Canada and Royal Bank of Canada told the agency their investments in the companies were limited to passive or tracker funds, while UBS told the agency its shareholdings were held on behalf of clients.

The environmental group said Deutsche Bank, HSBC Holdings, Citigroup and BlackRock did not respond to its queries.

CitigroupDeutsche Bank, BlackRock declined to comment when asked by Reuters.

The activist group urged the Chinese government to prohibit the use of parts of endangered animals for all commercial purposes in its domestic markets.

China’s National Medical Products Administration did not respond to a Reuters’ request for comment.

China’s amended Wildlife Protection law, which came into effect in May, bans trade in most wild animals for consumption as food, but permissions for breeding and utilization can still be issued for certain circumstances. — Reuters

Philippines may face more cyberattacks in 2024 — experts

PIXABAY

By Miguel Hanz L. Antivola, Reporter

As digital reliance increases, the Philippines is expected to face more cyberattacks in 2024, experts said, urging organizations and individuals to ramp up their cybersecurity measures. 

“For 2024, expect higher incidents of cyber hacks,” Sam Jacoba, founding president of the National Association of Data Protection Officers of the Philippines (NADPOP), said in a Viber message to BusinessWorld on Monday. 

“The government, private sector, and communities of practice have to be more vigilant,” he said. “Do not let up in awareness, education, training, certification, and consistent hardening of critical infrastructure.”

Internet security company Kaspersky earlier said the Philippines was the second most attacked country by web threats last year, with 39,387,052 internet-borne threats detected. The country placed fourth in 2021. 

It also saw 2,409,085 brute force or trial-and-error attacks among remote workers, 52,914 financial phishing cases among businesses, 24,737 crypto-phishing cases, 15,732 mobile malware cases, and 50 mobile banking Trojan cases last year, according to data from Kaspersky. 

Ronald B. Gustilo, national campaigner for Digital Pinoys, said the Department of Information and Communications Technology should set a base standard of cybersecurity infrastructure and recommendations for government agencies, especially those who hold huge amounts of critical data.

“Such agencies should be required to employ stronger cybersecurity infrastructure,” he said in a separate phone message. “All government agencies should also have first responder teams in case of possible data breach.” 

Included in this proposed proactive cybersecurity framework is the need to allocate sufficient budget for necessary technologies and experts, Mr. Gustilo said. 

“It has been so easy to attack the Philippines,” Dominic Ligot, founder and executive director of Data Ethics PH, said on the sidelines of the DevConnect Philippines, Inc. Pro Summit 2023 on Friday last week. 

“If you have an amount to insure, let’s say the GDP [gross domestic product] of the Philippines, then you must be willing to pay a fraction of that amount — anywhere from 1-5%,” he said on cybersecurity equal to economic growth.

NADPOP’s Mr. Jacoba noted the need to deliver at least 1,800 new world-class cybersecurity practitioners in three years, which is 1% of the 180,000 he said the country needs. 

“It will be a significant number that can inspire others to pursue careers in cybersecurity,” he said.

Winston L. Damarillo, DEVCON president, told BusinessWorld that upskilling to produce more cybersecurity experts will continue next year, alongside the mainstream adoption of cybersecurity insurance akin to regulations in the United States. 

“Even our VCs [venture capitalists] are now making sure we have cybersecurity insurance,” he said as an entrepreneur as well.

“People will learn, and some will learn the hard way,” he said about next year. “The consciousness around having cybersecurity readiness and posture will improve.” 

“More companies shall collaborate and work together for resilience. It’s going to get more complicated, but cooperatively we’ll combat it.”

Additionally, Mr. Gustilo of Digital Pinoys recommended adding cybersecurity to the education curriculum. 

“This topic should be taught from basic until secondary education, covering the matter of the pros and cons of using technology, cybersecurity, data privacy, and other relevant matters,” he said.

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