BPOs see rural dev’t as key contribution to 10-point agenda

The Business Process Outsourcing (BPO) industry said its six-year plan is closely aligned with the government’s 10-point economic agenda, particularly in terms of countryside development, after a meeting last week with administration officials.

In a statement, the Information Technology and Business Process Association of the Philippines (IBPAP) said that its representatives met with line government heads in Davao last week to discuss the prospects of the industry in the next six years.

“Countryside development is one of the highlights of discussions as it contributes to inclusive growth, which is part of the socioeconomic agenda of the government, hence industry members are very interested in understanding what the capabilities are outside of Metro Manila and how they can continue to work in partnership with local governments,” the association said.

It added that it participated in four of five working groups during the forum — those on macroeconomic and fiscal policy, infrastructure and competitiveness, rural development, and human capital development.

IBPAP released its latest six-year road map in late October,which projects industry revenue of $38.9 billion by 2022, and an expansion in its global market share to 15.5% from the current 12.6% .

In its Roadmap 2022, IBPAP sees faster development outside the National Capital Region, with an 11% projected compound annual growth rate in terms of jobs, compared to 7% within the NCR.

Citing preliminary findings from its research partner Frost & Sullivan, IBPAP said that the property and telecommunications sectors are preparing for exponential growth as BPOs expect to grow by more than 700,000 seats in the next five or six years.

There will be continued discussions on the road map through a road show aimed at increasing awareness among the sector’s various stakeholders.

The Finance department chaired last week the two-day Philippine Development Forum, a policy dialogue with stakeholders in both the public and private sector.

The consultations came in the wake of the US Presidential Election result, won by Republican Donald J. Trump, who campaigned under a protectionist policy, widely seen as a potential threat to the outsourcing industry in the Philippines.

Genny I. Marcial, IBPAP’s executive director for External Affairs and Membership, said last week that the association will “monitor” the policies to be enacted by Mr. Trump.

Remittances from overseas Filipinos and revenue from BPO firms mostly catering to American companies have kept the country’s current account in surplus and account for about a fifth of gross domestic product.

Source: https://goo.gl/lTFo8u