The government intensifies its support for the continuous development of the information technology-business process management (IT-BPM) industry, following the industry’s generated revenue of around US$23 billion and direct employment of 1.3 million last year.
Speaking at the office opening of financial institution ING Business Shared Services BV on 20 June, Department of Trade and Industry (DTI) Secretary Ramon Lopez said that ING’s expansion comes at a perfect time when the Philippines is considered the global leader in IT-BPM, having an annual growth rate of 30% over a decade.
Sec. Lopez also mentioned that IT-BMP’s economic contributions surpass remittances of overseas Filipino workers, making the industry more competitive and growth-driven.
“The industry benefits from an enabling policy environment under the administration of President Rodrigo Duterte. I encourage the IT-BMP industry players to continue expanding and specifically take advantage of this moment, when the Philippines is experiencing an economic breakout, as further intensified by efforts to improve ease of doing business,” he said.
The trade chief also highlighted that the country has a qualified, highly-trainable, hardworking work force, with notable English proficiency and fast learning curve.
“Filipinos’ adaptability to universal cultures and their high level of commitment and loyalty prove that the country’s greatest asset has always been its people, who will bring inclusive growth to the rest of the country,” he said.
Globally, the Philippines is competitively positioned in terms of talent, costs, and risks relative to established and emerging offshore destinations. Cities from Metro Manila to Clark, to the cities of Cebu, Davao, Santa Rosa, Bacolod, Iloilo, Dumaguete, and Baguio are listed in the 2016 Top 100 Outsourcing Destinations as reported by Tholons.
While the Philippines is the number one global provider of voice BPM services, it is also rapidly expanding in the value-driven non-voice, complex services segments of the industry.
Non-voice services included range from engineering, health care, legal, financial, creative, and software services for the energy, banking, investment, insurance, shipping, media, and other industries.
DTI has set up Training for Work Scholarship Program (TWSP) for IT-BPM, wherein the government invests on training for students to work in the industry.
DTI also has a partnership with the Commission on Higher Education (CHED) and the IT & Business Process Association of the Philippines (IBPAP) to run the Service Management Program (SMP), a specialized track for business and IT schools to develop skills in students needed to work in the IT-BPM industry.
The first foreign bank that transitioned into a universal bank in the country, ING offers banking insurance, retirement and investments services with global presence in 40 countries.
*This is Press Release