Renewed interest in IT-BPM sector seen

MANILA, Philippines — Legislative measures being put in place have helped spark renewed investment interest in the country’s IT and business process management (IT-BPM) sector, the IT-Business Process Association of the Philippines (IBPAP) said.

In a statement, IBPAP president and CEO Rey Untal lauded lawmakers’ efforts in recognizing the IT-BPM industry’s vital role in the economy, as well as “the need to retain incentives that enable us to maintain our global competitiveness as an outsourcing destination.”

Untal said sustaining and enhancing current fiscal incentives are key to the country’s ability to attract and retain foreign investors and locators, which in turn are essential to job creation and revenue generation.

“The industry has been facing a number of headwinds, which appear to have a dampening effect on IT-BPM investments during the first half of 2017. However, there is a renewed investor confidence in the Philippines  primarily due to the recent developments in the TRAIN bill where the Senate has continued to support the sound fiscal and regulatory environment for our sector by preserving the current incentives,” he said.

“Sustaining an attractive business environment through industry and government partnership is critical in overcoming industry challenges. The senators’ genuine desire to fuel job generation, spur inclusive economic growth, and help alleviate poverty, is seen in their recent stance on the TRAIN bill,” Untal added.

According to the IBPAP official, the IT-BPM industry continues to be a sunrise industry and finds itself once again in an infancy period due to advancements in technology brought about by global digital transformation and disruption.

He said these advancements would inevitably impact the Filipino workforce as well as future graduates.

“Therefore, industry-academe-government linkages need to further enhance the talent development ecosystem, which will require focused attention and additional investments from multiple stakeholders,” Untal said.

“There is much to be done on the horizon not only for our industry, but other sectors as well, to nurture the economic growth of the nation. We certainly support and laud all the lawmakers who have advocated and fought for the country’s competitiveness by maintaining a sound fiscal and regulatory environment. These legislative actions will go a long way towards achieving our goals in generating more jobs, developing the Filipino talent, and expanding growth in the countryside,” he said.