Ambassador Medardo G. Macaraig led the Philippine Pavilion’s ribbon-cutting at the 2024 Singapore FinTech Festival, highlighting the country’s digitalisation efforts to attract foreign investments.
SINGAPORE, 6 November 2024 – H.E. Medardo G. Macaraig, the Philippine Ambassador to Singapore, inaugurated the Philippine Pavilion at the 2024 Singapore FinTech Festival (SFF) with a ribbon-cutting ceremony. Ambassador Macaraig was joined by prominent Filipino representatives in fintech and government, including Mr. Lito Villanueva, Founding Chairman of FinTech Alliance.ph; Mr. Joshua M. Bingcang, President and CEO of the Bases Conversion and Development Authority (BCDA); Mr. Jose Querubin, Monetary Board Member from the Bangko Sentral ng Pilipinas (BSP); and Ms. Sharlene Zabala-Batin, Assistant Secretary for Tourism Digitalization and Resource Generation at the Department of Tourism. Key personnel from the Philippine Embassy in Singapore were also present to support the event.
Held at the Singapore Expo from 6 to 8 November, the Singapore FinTech Festival 2024 is one of the world’s largest and most influential fintech events, drawing thousands of participants worldwide. Organised by the Monetary Authority of Singapore, Elevandi, and Constellar, in collaboration with the Association of Banks in Singapore, this year’s SFF focuses on the “Applications of AI and Quantum Computing in Financial Services.” The event serves as a platform for fintech innovation, connecting leaders from finance, technology, and public policy.
The Philippine Pavilion, themed “Bagong Pilipinas,” highlights the country’s commitment to digital transformation and the administration’s agenda to position the Philippines as a digital hub for foreign investments. Spearheading this initiative, FinTech Alliance.ph, which represents over 100 corporate members responsible for more than 95 percent of the Philippines’ digital financial transactions, is leading the Pavilion’s efforts. Industry giants like GCash, Maya, Home Credit, and Grab, all members of the Alliance, are present to support the Pavilion’s theme.
During the event, Ambassador Macaraig introduced a pre-recorded message from President Ferdinand R. Marcos, Jr., in which he underscored the significance of digital finance for the Filipino people. President Marcos emphasised digital finance’s potential to drive financial inclusion, ensure secure transactions, and stimulate economic growth. He highlighted ongoing initiatives to expand digital services, aiming to reach all Filipinos while opening opportunities in international markets. President Marcos also extended an invitation to investors, expressing the Philippines’ ambition to establish itself as a competitive player in the global fintech landscape.
The Philippine Pavilion at SFF 2024 serves as a testament to FinTech Alliance.ph’s strong industry presence and its strategic partnerships with government agencies. This collaboration embodies the “Bagong Pilipinas” theme, advancing the administration’s vision of economic progress through digital transformation.
Source: Philippine Embassy in Singapore
