IBPAP backs efforts to position Philippines as investment haven in Asia

CEBU, Philippines —  The IT and Business Process Association of the Philippines (IBPAP) joined government efforts in building the image of the Philippines as an investment haven, particularly for the American outsourcing clients.

IBPAP began the year strong and focused on the initiatives of the Philippine IT-BPM Industry Roadmap 2028 by participating in an investment promotion forum in Washington, D.C. on January 12, 2023. This was organized by the Philippine Economic Zone Authority (PEZA), the Philippine Embassy, the Department of Trade and Industry’s (DTI) Philippine Trade and Investment Centers (PTIC), the US-Philippines Society, and the Federation of Philippine-American Chamber of Commerce (FPACC).

 Dubbed “Philippines: Your Investment Haven in Asia,” the event puts the spotlight on how special economic zones (SEZs), such as those managed by PEZA, support companies and help them leverage business opportunities to maximize investment returns.

With the United States (US) being the largest market for the Philippine IT-BPM sector, the forum served as a great platform for IBPAP to showcase the country’s decades-long track record in providing world-class IT-BPM services.

In his presentation, IBPAP President and CEO Jack Madrid spoke about why the Philippines continues to be a partner of choice for many US investors, touting advantages that were developed and honed through many years of being a key investment hub in Asia and the world.

“The Philippines offers a distinct value proposition for IT-BPM, which is why we are an undisputed leader in that space,” said Madrid adding that the country’s enabling infrastructure, growing strength in digital and high-complexity work, and focus on sustainability are just some of the things that have made this possible.

“But the major factors that really put us on the global map are the favorable and cost-competitive business environment and the exceptional Filipino talent,” he added.

Additionally, Madrid stressed that PEZA’s one-stop-shop services and “no-red-tape and no-graft-and-corruption “ policies attest to how much the players value the ease of doing business “for our investors and our commitment to drive investments, create jobs, and stimulate countryside development. On the talent front, IBPAP works with the government and the academe on various upskilling and reskilling initiatives to ensure that investors and locators will continue to reap the benefits of the Philippines’ robust and diverse talent pool.”

Meanwhile, Philippine Ambassador to the United States Jose Manuel G. Romualdez, who hosted the event at the Philippine Embassy in Washington, D.C., expressed the Philippines’ readiness to engage the business community in the US and assured them that the national government is dedicated to fostering a more conducive business environment for foreign investors and stronger economic ties between the Philippines and the US.

The “Philippines: Your Investment Haven in Asia” is just the first of many investment promotion initiatives that IBPAP will participate in this 2023.

With the launch of the Philippine IT-BPM Industry Roadmap 2028, the association is ramping up its initiatives to align with the sector’s acceleration levers in Policy & Regulatory, Talent Development, Infrastructure Expansion, and Marketing & Brand Repositioning—all for the addition of 1.1 million new jobs and the generation of US$59 billion revenue by 2028.

As an indispensable pillar of the economy, achieving this ambitious goal is also in support of the national government’s agenda “to reinvigorate job creation and accelerate poverty reduction by steering the economy back on a high-growth path,” Madrid concluded.

The IT and Business Process Association of the Philippines is the primary trade body and advocacy group of the country’s agile, dynamic, and resilient IT and Business Process Management (IT-BPM) sector.

With over 300 members and six partner associations—the Animation Council of the Philippines, Inc. (ACPI), Global In-House Center Council (GICC) Philippines, Contact Center Association of the Philippines (CCAP), Game Developers Association of the Philippines (GDAP), Healthcare Information Management Association of the Philippines (HIMAP), and the Philippine Software Industry Association (PSIA)—IBPAP plays a pivotal role in sustaining the growth of the IT-BPM industry by working with stakeholders in the government and academe to ensure an enduring supply of high-quality labor, support service innovation, and provide country visibility.