Following a challenging 2017, the IT-Business Process Management (IT-BPM) industry continued to show signs of recovery by slowly gaining back its positive momentum with numerous incumbents proceeding with their expansions, particularly in the countryside.
This is according to industry group IBPAP (IT and Business Process Association of the Philippines) which announced on Monday, May 27, that the industry grew by 5.1% in 2018 with direct employment of 1.23 million employees.
“While we saw signs of recovery in 2018, this was slower than the 8% annual growth projected in our Roadmap 2022. Although a missed opportunity to generate more jobs overall, there was strong performance by new locators, which offered a wider range of higher-end services i.e. from customer service to e-commerce, supply chain management, IT infrastructure support and analytics,” the organization said in a statement.
“We remain optimistic and equally grateful for the continued support received as we have clearly see a direct and pivotal link between government support and investment growth,” it added.
IBPAP noted that over the last two decades, the formula adopted by PEZA (Philippine Economic Zone Authority) consistently attracted and successfully retained investors in the Philippines and was key to creating more jobs across multiple industries.
“PEZA, led by director general Charito B. Plaza, continues to play a very important role in strengthening our overall global competitiveness and ensuring a more inclusive business environment,” the group said.
IBPAP also said the seamless collaboration with the BOI (Board of Investments) and the DTI (Department of Trade and Industry) in providing support to both existing and potential investors continues to be critical in ensuring the growth in FDI (foreign direct investment).
“With the pace of the disruption and transformation, we cannot be more thankful to DICT (Department of Information and Communications Technology) for being at the forefront in advocating innovation and forward thinking across all initiatives,” it said.
“Equally critical is the support of our policymakers and lawmakers to ensure our industry remains globally competitive as we move up the value chain, especially given the impact of digitalization,” the group added.