PHILIPPINE Chamber of Commerce and Industry (PCCI) President Ferdinand Ferrer on Monday said the proposed Asean Digital Economy Framework Agreement (DEFA) will boost micro, small and medium enterprises (MSMEs) in the Philippines and Vietnam.
“Vietnam has MSMEs similar to ours. If we’re all in agreement, the two countries will benefit the most among all of Asean, not because of our population, but the eagerness of young entrepreneurs,” Ferrer told reporters at the Vietnam-Philippines Business Forum 2026.
Negotiations for the DEFA opened in September 2023, while the drafting concluded in May this year. It is set for signing in November at the 49th Asean Summit in Manila.
MSMEs comprise 99.5 percent of all enterprises in the Philippines and 97–98 percent in Vietnam.
“We want transparency and growth in business processes. The DEFA will give us that,” Ferrer said.
DEFA is considered the most comprehensive agreement on the digital economy and e-commerce, aiming to create an open, secure, interoperable and inclusive digital environment.
It also seeks to narrow development gaps and strengthen MSME participation with more inclusive, resilient and sustainable growth opportunities throughout the region.
The Asean digital economy is projected to reach $1 trillion by 2030 based on current growth trends. DEFA could potentially double the amount.
Also on Monday, Ferrer signed a memorandum of understanding with Vietnam Chamber of Commerce and Industry Vice President Nguyen Quang Vinh to help expand trade and investment relations between the two countries.
Both countries will support trade delegations and missions organized by PCCI or VCCI, as well as business visits by individuals or groups to the Philippines and Vietnam.
In 2025, bilateral trade between the two countries totaled $7.17 billion, with Vietnam as the Philippines’ 11th trading partner.
