Senator Edgardo Angara, along with the Business Processing Association of the Philippines (BPAP), predicted that by 2016, the business process outsourcing (BPO) industry can outdo the remittances from overseas Filipino workers.
At present, the BPO industry employs (more or less) 500,000 Filipinos and is valued at US$9 billion. According to BPAP, it can grow from US$18.8 billion in 2010 up to US$26 billion by 2016, employing 1.3 million people.
Senator Angara said during a recent hearing of the Senate Committee on Science and Technology, the BPO industry is in dire need of the government’s support in terms of data security and establishment of an ICT-dedicated government entity to regulate operations. Angara said this could be achieved by establishing a government division called Department of Information and Communication Technology (DICT), and implementing data privacy laws.
According to Angara, the creation of DICT under the Medium Term Philippine Development Plan is also supported by The National Economic and Development Authority (NEDA).