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PH Generates $59 Million In Sales And Commitments At Canada Summit
- By The Financial District
- Oct 16, 2023
- 2 min read
The Philippines achieved $55.8 million in revenue, contracts, and foreign direct investments (FDI) following its participation in the External Development Summit (XDS) 2023 held in Vancouver, Canada, as reported by the Department of Trade and Industry (DTI).
The DTI disclosed that the country earned $6.5 million in sales revenue solely from the participation of game development companies during the External Development Summit (XDS) 2023 held in Vancouver, Canada. I Photo: The Philippine Consulate General, Vancouver, Canada
The DTI disclosed that the country earned $6.5 million in sales revenue solely from the participation of game development companies during the summit.
The agency showcased game development companies such as Pixel Mafia, GameOps Inc., Synergy88, Animation Vertigo, and Neun Farben Corporation at the Philippine Pavilion exhibition during the event in September.
The Philippines' involvement in the summit also resulted in $14.3 million worth of contracts under negotiation and $35 million in direct investments, facilitated by the DTI Competitiveness and Innovation Group (CIG), Export Marketing Bureau (EMB), Philippine Trade and Investment Center (PTIC) – Silicon Valley, Game Developers Association of the Philippines (GDAP), and the International Trade Center (ITC) ARISE Plus Philippines.
Additionally, the DTI has launched the Philippine Online Dispute Resolution System (PODRS) and the DTI Consumer Complaints Assistance and Resolution System (CARe System) in the Philippines.
These systems aim to enhance the complaint filing process and promote a more inclusive society.
They are part of the Association of Southeast Asian Nations (ASEAN) Strategic Action Plan on Consumer Protection (ASAPCP) 2016-2025, which seeks to bolster consumer confidence in the ASEAN Economic Community and cross-border commercial transactions.
The PODRS and the CARe System streamline the dispute resolution and consumer complaint handling processes, making it easier for individuals and businesses to seek redress and find solutions to their issues while prioritizing data privacy and system integrity.
