BOI approves P35.2 million IT-BPM project

MANILA, Philippines — The Board of Investments (BOI) has approved the application for registration of a P35.2 million information technology (IT) service project in Taguig as it will strengthen the country’s IT- business process management (IT-BPM) sector.

In a statement yesterday, the BOI said it approved the registration of DB Results (Philippines) Inc. as a new service provider in the IT-BPM industry in the country.

“The firm’s project activity falls under Tier 1 of the Strategic Investment Priorities Plan (SIPP) under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act,”the BOI said.

DB Result’s soon-to-be-opened P35.2 million site in Bonifacio Global City in Taguig would provide digital software to major companies in the financial services, retail, utilities, and pharmaceutical industries to improve their operations and efficiency.

The company  is an expansion of DB RESULTS Pty Ltd, an Australian firm engaged in providing high-end digital software solutions to major companies in various fields such as financial services, retail or FMCG (fast-moving consumer goods), utilities, telecommunications, pharmaceutical, among others.

DB Results chose the Philippines as the location of its project because of its known competitive Filipino workforce with high technical skills and level of English proficiency.

“The project will strengthen the country’s growing IT-BPM industry even more. Attesting to the competitive edge of the Philippines in the industry, this latest addition to the many thriving companies in the sector is a testament that the Philippines remains as a top destination for IT-BPM industry,” Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said.

DB Results is engaged in providing information technology services, including but not limited to digital software development and solutions, cloud managed services, software program management, and delivery, systems implementation, and integration; and IT consulting services.

Specifically, 70 percent of its revenues will come from its export services to Australia, Hong Kong, and Thailand, while 30 percent will be generated from its domestic clients in the Philippines.

The enterprise will adopt 100 percent work-from-home (WFH) arrangements.

“In support of the income and job generation of many Filipinos, the new project is seen to provide job opportunities to 198 (direct labor and selling/admin) full-time employees in the fifth year of its operation,”the BOI said.

The IT-BPM sector is one of the top-performing and job-generating activities in the Philippines, as it registered $29.49 billion in revenue for 2021, or a 10.6 percent jump from the preceding year.