1. Alibaba Cloud’s entry into the Philippine data centre market is indicative of our view that the country will become an increasingly relevant cloud computing location over the medium-to-long term. 2. Efforts by incumbent operators, the regulatory environment and the country's demographics have enhanced the Philippines' attractiveness to cloud computing vendors. 3. We believe that the Philippines' cloud computing market will grow at a CAGR of 28.9% between 2021 and 2024, higher than the region's average growth rate of 25.2%.
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