PPP imperative for IT-BPM industry-A A +A
Tuesday, October 15, 2013
THE Department of Trade and Industry (DTI) sees that the collaboration between the government and private sector is essential to fortify and sustain the Information Technology and Business Process Management (IT-BPM) sector in the Philippines.
“Partnership between the government and the private sector can translate into investments which can generate more employment for our country and for our people,” DTI Undersecretary Nora K. Terrado said.
With the theme "Unlocking Possibilities, Creating New Vistas," this year’s summit focused on the implications of the global power shift, and how developing economies are paving the way for innovation and expanding business opportunities.
It is organized by the Information Technology and business Process Association of the Philippines (IBPAP), the umbrella association of the IT-BPM industry in the Philippines.
Terrado said that the DTI and IBPAP collaboration is crucial as the Philippines face accelerated and relentless competition from countries that also seek a share in the global IT-BPM market, and that long-term outlooks, strategies and plans should be in place to sustain this partnership.
“Together with the private sector, we need to identify major policy reforms to address bottlenecks affecting the industry and come up with projects where the government could assist in the efficient and effective implementation of action plans, especially those outlined in the IT-BPM Industry Road Map,” Terrado said.
In the updated Philippine IT-BPM Road Map 2012-2016, the industry will now only take a Consolidated Annual Growth Rate of 17 percent to achieve its target of US$25 billion in revenues by 2016.
Terrado said the government, for its part, has been continuously aiming for a high-level, sustainable and inclusive economic growth.
“We have implemented reforms to ease the cost of doing business and improve the country’s competitiveness. We have also ventured into projects and programs that will harness the skills and potentials of our people to ensure that our workforce is at par with the globally competitive workers that today's industry requires,” Terrado added.
In 2012, the Philippine IT-BPM industry strengthened its position in the global market, and generated $13 billion in export revenues and provided 777,000 jobs.
“As the demand for IT-BPM services is expected to more than double by 2016, we are optimistic that the confluence of events shall continue tilting the favor to our country,” Terrado said.
The IT-BPM industry contributed almost 5.6 percent of the country’s gross domestic product in 2012, and expected to grow by 7.8 percent in 2016.
Terrado also said the IT-BPM industry has achieved rapid growth as it has diversified significantly in breadth, scale, and maturity of services over the years. It has also lived up to its potential in unlocking possibilities and creating new vistas.
“We now have solid foothold in the global market. How we carry this momentum sustains our credibility in the eyes of investors,” Terrado said. (PR)
Published in the Sun.Star Cagayan de Oro newspaper on October 15, 2013.