by: Sarah Joson
Wednesday, April 13, 2016 | Outsourcing News |
During the recent CeBIT (Centrum für Büroautomation, Informationstechnologie und Telekommunikation) Fair, a premier global trade fair and event to promote IT services held in Hannover, Germany, the Philippines was cited as a sustainable investment destination for information technology and business process management (IT-BPM) by the country’s major providers. They also promoted the capabilities of the Filipino workforce. This is on top of the Philippines’ continuous robust growth in the last five years, which further reinforces its position in the global IT-BPM industry.
The Philippines’ strengths in the electronics sector, a key contributor to the Philippine economy, were also underpinned at the event. It is responsible for 49.3% of the total Philippine exports (US$28.9 billion) in 2015.
The IT-BPM industry of the Philippines earned $22 billion and created 1.2 million full-time jobs last year. This year, the sector is seeking to surpass the revenue figures and is targeting to hit $25 billion in revenues and create 1.3 million direct employment opportunities.
The Philippines’ economic blueprint called Comprehensive National Industrial Strategy (CNIS) identified the overall development strategies for the IT-BPM, manufacturing, agribusiness, tourism, and infrastructure and logistics sectors. These are deemed as pillars in sustaining the economic growth of the country.
CeBIT is one of the acclaimed platforms for global ICT companies to explore opportunities and partnerships through exhibitions, global conferences, and networking events. This year, the CeBIT in Hannover attracted 100,000 visitors with more than 3,000 exhibitor companies from 70 countries.
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