MANILA, Philippines 鈥� In line with its thrust toward digitalization, the Department of Budget and Management (DBM) has allotted a chunk of its information and communication technology (ICT) budget for cybersecurity projects.
DBM Secretary Amenah Pangandaman revealed this during a cybersecurity conference on Wednesday organized by Stratbase ADR and the Canadian Embassy to the Philippines.
Pangandaman said the DBM鈥檚 ICT group allotted 20.92 percent of its budget for cybersecurity projects.
She noted that this is even higher than the 10 percent internationally recommended standard based on the report published by the Deloitte Center for Financial Services and the Financial Services Information Sharing and Analysis Center, which is the only global information-sharing community focused solely on financial services.
鈥淚n today鈥檚 fast-paced, modern, and interconnected world, it is inevitable that we fortify cyber cooperation toward digital security,鈥� Pangandaman said in her speech.
The DBM has an
Meanwhile, Stratbase Institute President Dindo Manhit said such investments in cybersecurity will give the Philippines an edge in attracting investors.
鈥淎 thriving digital economy backed by safe and secure cybersecurity strategies gives the Philippines a strategic and competitive advantage to attract 鈥� and keep 鈥� investors,鈥� Manhit said.
鈥淐ybersecurity issues have the potential to influence the operations of businesses across different sectors and the country鈥檚 national economic growth,鈥� he added.
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