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Aquino Admin Allocates P62M for IT-BPO Industry

by: Karen Cayamanda

Thursday, December 2, 2010 | Outsourcing News |

PH President Benigno Aquino III pledged support to the country’s IT-BPO industry by allocating P62 million through a public-private partnership between the Business Processing Association of the Philippines (BPAP) and the Commission on Information and Communications Technology (CICT).

Pres. Aquino said the industry was able to reach over P9 billion in revenues and had employed about 550,000 workers in 2009. "You have contributed 10.2 percent of the growth of the Services sector, which comprises about 49.5 percent of the country's Gross Domestic Product (GDP). In the second quarter of 2010, you have already contributed 3.2 percent to the GDP growth," Aquino said. He added that by 2020, the industry can generate revenues of as much as US$100 billion. This accounts for about 20 percent of the global market share.

The Philippines was named Offshoring Destination of the Year three times by UK body National Outsourcing Association.


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