The local business process outsourcing (BPO) sector is keeping a close watch on the activity of the US Congress as the re-election of President Obama can lead to the approval of the bill which may have an impact to the industry.
When asked about the “Bring Jobs Home” Act sponsored by Democrat Sen. Debbie Stabenow of Michigan, US Ambassador to the Philippines Harry K. Thomas Jr. said President Aquino and President Obama both have the same goal, and this is to provide more jobs to their countrymen.
Republicans in the Senate and some large business groups strongly opposed the Bring Jobs Home Act. It aims to provide tax breaks for US-based companies that will bring jobs back and retract government grants to organizations that are involved in outsourcing work to offshore regions.
Business Processing Association of the Philippines (BPAP) President Benedict Hernandez said the IT-BPO sector is one of the Philippines’ economic pillars, with 493,000 Filipino workers, and this number is seen to increase to 567,000 next year. Moreover, he said it is a rapidly growing sector and was observed to have grown five times more compared to the average employment growth in the country for the past six years.