The IT and Business Process Association of the Philippines (IBPAP) has formed a coalition with advisory firms, property developers, banks, and investment promotion agencies to attract more global companies to establish or expand operations in the country.
The initiative is targeting companies based in Australia, Japan, the Middle East, and the United Kingdom, reducing the Philippine IT and business process management industry’s traditional dependence on the US market.
IBPAP said the campaign would also pursue mid-market companies and organizations in the banking, financial services, insurance, and healthcare sectors.
The group is aiming for its best-case industry projection of $50.5 billion in annual revenue and 2.14 million jobs by 2028. It did not identify the coalition members or disclose specific investment and employment commitments secured under the initiative.
“The conversation has changed. Companies no longer choose locations based solely on cost. They choose places that can deliver resilience, capability, and depth of talent. That is where the Philippines competes today. We invite global companies ready to build their next chapter to build it with us,” said Jack Madrid, outgoing IBPAP president and chief executive officer.
One of the initiative’s priorities is attracting global capability centers that handle higher-value functions such as technology, finance, analytics, cybersecurity, engineering, and enterprise services.
It also seeks to move outsourcing operations beyond traditional customer support by developing artificial intelligence-enabled and industry-specific services in healthcare, IT, finance and accounting, and human resources.
For healthcare, IBPAP identified clinical support, revenue cycle management, health technology, and patient services as potential growth areas. In financial services, it is targeting banking, insurance, fintech, payments, risk, and compliance operations.
Under the coalition’s proposed arrangement, advisory firms will include the Philippines in their location recommendations, while property developers will provide facilities and organize site visits. Banks will tap their international client networks, and investment promotion agencies will assist prospective locators with incentives and market-entry requirements.
IBPAP said the coalition would conduct investor roadshows, executive briefings, speaking engagements, and targeted business development activities in its priority markets over the coming months. A shared investment pipeline will be used to track prospective projects and expansion plans.
