Monday, May 27, 2024

PwC’s new BPO hub in PH to create 54,000 new jobs in next 3-4 years

Department of Trade and Industry (DTI) secretary Fred Pascual said US accounting giant PricewaterhouseCoopers (PwC)’s planned Global Acceleration Center project in the Philippines is set to generate at least 5,000 new jobs for Filipinos.

Pascual met with PwC officials during the sidelines of the US-Japan-Philippines trilateral meeting in Washington DC on April 12.

The PwC Global Acceleration Center in the Philippines underscores the country’s growing role as a prime destination for innovative business process outsourcing (BPO) operations, said Pascual.

The project will focus on high-value BPO in consulting spaces, including artificial intelligence (AI), cloud computing, and cybersecurity, slated to create 54,000 new jobs within a three- to four-year timeframe.

An additional 1,000 to 2,000 workers are also projected by Isla Lipana & Co., the Philippine member firm of the PwC network, to support the manpower needed for the project, translating to an estimated P2 billion in additional revenue for the Philippines annually.

“We are deeply grateful for PwC’s decision to launch this new project in the Philippines and their continuing confidence in our country as a global BPO partner,” Pascual stated.

He emphasized the critical role of the information technology and business process management (IT-BPM) sector for the Philippines, aligning with the technology, media, and telecommunications cluster identified in DTI’s science, technology, and innovation (STI) industrial strategy.

“The DTI recognizes the transformative potential of AI for the Philippine economy. Hence, we strongly advocate for building AI capabilities to meet the evolving needs of businesses, such as PwC’s Global Acceleration Center,” he added.

Pascual also extended an invitation for PwC to collaborate with DTI for the National Innovation Hub.

Meanwhile, Pres. Ferdinand Marcos Jr. emphasized during the summit the crucial role of the United States International Technology Security and Innovation (ITSI) Fund, in supporting the Philippines’ target of training 128,000 semiconductor engineers and technicians by 2028.

The initiative is geared towards integrating the Philippines into the broader US semiconductor ecosystem, which also includes microchip design, research, and development.

In March 2024, the US Presidential Trade and Investment Mission, led by Secretary of Commerce Gina Raimondo, visited the Philippines.

The mission resulted in investment commitments from 22 US companies across various sectors such as air logistics, tourism, IT-BPM, and renewable energy.

The companies pledged to invest at least $1billion in the Philippines.

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