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IT-BPM incentives stay pushed

The IT-Business Process Association of the Philippines (IBPAP), representing the 1.2 million strong IT-BPM sector, expresses its full support for all the lawmakers who have advocated for the sustained growth of the IT-BPM industry.
The senators’ genuine desire to fuel job generation, spur inclusive economic growth, and help alleviate poverty, is seen in their recent stance on the Train Bill.
“We thank all of the lawmakers who have collectively recognized the IT-BPM industry’s vital role in our country’s economy, as well as the need to retain incentives that enable us to maintain our global competitiveness as an outsourcing destination. Sustaining and enhancing current fiscal incentives are keys to our country’s ability to attract and retain foreign investors and locators, which in turn are essential to job creation and revenue generation for the country,” IBPAP said.
Below are industry highlights which further underscore the need for strong legislative support:
— The Philippine IT-BPM Industry is the largest creator of the new middle class and contributes significantly towards alleviating poverty. With revenues in excess of $22 billion in 2016 that generated 1.2 million direct jobs and close to four million indirect jobs, the industry has proven to be essential to the growth of our nation. These incentives have also helped various IT-BPM subsectors grow allowing for more diverse services and job opportunities for the Filipino people. This has been proven over the past decade where transformation of cities throughout the country into IT parks and IT-BPM hubs have improved the quality of life for entire communities, allowing them to earn more, spend more and remain in the country to raise their families.
— The industry has been facing a number of headwinds, which appear to have a dampening effect on IT-BPM investments during the first half of 2017. However, there is  a  renewed  investor  confidence  in the Philippines  primarily  due  to  the  recent developments in the Train bill where Senate has continued to support the sound fiscal and regulatory environment for our sector by preserving the current incentives. Sustaining an attractive  business  environment through  industry  and  government partnership is critical in overcoming industry challenges, and we are quite pleased with recent PEZA reports showing an increase and improvement on IT-BPM investment activities.
— The IT-BPM Industry finds itself, once again, in an infancy period due to advancements in technology brought about by global digital transformation and disruption. This has and will inevitably impact the Filipino workforce, as well as our future graduates.

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