IT-BPM sector expects sustained growth to continue
Date:
February 6, 2017
The domestic IT-business process management industry is confident it can sustain growth saying they are on track with the projections under the new roadmap because businesses around the world continue to invest and expand in the Philippines.
Ike Amigo, president and CEO of IBPAP (IT & Business Process Association of the Philippines) has confirmed that the projections of the Accelerate PH Roadmap 2022 are on track and the industry is geared to solve the challenges that, once overcome, will become a reason for increased global interest in Philippine IT-BPM services and revenue for the country.
According to Amigo, the IBPAP the Philippines’ thriving IT and business process management (IT-BPM) sector remains positive in carrying out its plans for the coming years. This is because businesses from all over the world continue to express interest in investing in Philippine IT-BPM services. Some of these include: United States, Japan, New Zealand, Australia, Canada, India, and more.
In fact, in addition to its thorough research in putting together the IBPAP did a recent quick-poll among its members to gauge the interest of global investors and found that they are continuing expansion plans to the Philippines.
“We are confident that, if we can collaboratively harness our respective strengths to maximize the potential of the industry and protect what we have already achieved, we can continue our progress in terms of economic development and job generation,” Amigo added.
IBPAP issued this statement in reaction to an earlier statement of the Director-General of the Philippine Economic Zone Authority Charito Plaza that expansion projects of IT-BPM companies in the country have been put on hold because of the pronouncements of new US President Donald Trump that he will ban offshoring of American jobs. The Trump administration is seeking to pass the bill on “End of Offshoring Act” within its first 100 days in office.
Amigo, however, said that to-date, there has been no definitive word about how international trade policies will develop.
During this time, he said, the IT-BPM industry will continue to work with the national and local governments, industry regulators, legislators, the financial sector, and all other stakeholders to mitigate the possible shift in trade relations, and protect the Philippines’ leadership in the global outsourcing industry.
Some of the industry challenges are: How to adapt to advances in technology by synchronizing the skills of the local talent pool, how to distinguish ourselves from competition on a global level, and how to up-skill and better educate the current labor supply to make Philippine IT-BPM service a cut above the rest. The objective of all this is to improve our capacity to move up the value chain to better wages, benefit the industry and inevitably contribute a greater percentage to the country’s GDP.
In 2016, the Philippine IT-BPM industry generated $22.9 billion in revenue. It also provided direct employment to some 1.15 million Filipinos and created an additional 3.68 million jobs outside the industry (indirect and induced employment). With an upward trajectory projected by IBPAP’s Accelerate PH Roadmap 2022, the Philippines remains to be a preferred investment destination given its deep pool of high quality Filipino professionals, a positive business environment that supports 7 by 24 operations, and the partnership and support of the government like the Department. of Finance, Department. of Trade and Industry, Department of Information and Communications Technology, and the Philippine Economic Zone Authority.
Amid the positive outlook, the IT-BPM industry shares the concern of the national and local governments, industry regulators, legislators, the financial sector, and all other stakeholders regarding the future development of trade policies between the Philippines and the United States.
After all, the industry is an essential component of the Philippine economy, especially in terms of providing high-paying, sustainable, and inclusive jobs for the Filipino people.
Source: https://goo.gl/rhsZ4e
