IBPAP: Sustained growth for 2022, 1.1M jobs by 2028, to unveil new Roadmap
by Elton Gagni / September 5, 2022
The IT and business process management industry (IT-BPM) has been among the strongest pillars of the Philippine economy, especially during the pandemic. In a recent virtual press conference for the upcoming International Innovation Summit (IIS), the IT and Business Process Association of the Philippines (IBPAP) unveiled plans for the sector’s future.
Sustained growth and new roadmap
With the industry set to close off its 2016 roadmap this year, IBPAP projects year-end growth between 7-8% in full-time employees (FTEs) and 8-10% in total revenue. Alongside this, the association also forecasts 1.1 million new jobs over the next six years.
According to IBPAP President and CEO Jack Madrid, “This is just one of the many significant milestones that the IT-BPM industry will reach by 2028. Additionally, the Philippine IT-BPM sector will create more impact through countryside development, digitally-enabled services, dollar revenue, high-complexity work, and indirect employment.”
Madrid shared that these forecasts are contingent on government policies on remote work, stronger infrastructure, more upskilling and reskilling of Filipino talents, enhanced value proposition for the Philippines, and improved ease of doing business to attract more global investors.
The big leap for IT-BPM
Themed, “The Big PH IT-BPM Leap: Growth. Resurgence. Impact. Transformation,” the annual IIS will set the stage for how the country will continue to be at the forefront of talent, technology, and transformation.
The Summit will feature ESG-centric discussions, the much-anticipated unveiling of Roadmap 2028 and industry targets, government and industry panels to actualize growth plans for talent, technology and sector transformation, and a formal turnover to President Ferdinand Marcos, Jr. who has been invited.
“The road ahead is long, but the Philippine IT-BPM sector is ready to take that big leap with the support of our partners in the government and the academe. As an industry, we stand strong and will continue to do so because we are fueled by grit and our collective goal of strengthening the country’s position as one of the top IT-BPM investment destinations in the world,” concluded Madrid.
The looming 70-30 WFH arrangement deadline
As IT-BPM prepares for its Summit by the end of the month, it remains embattled by the extension of the 70/30 WFH arrangement which is set to expire on September 13.
The Philippine Economic Zone Authority (PEZA) previously said that the extension until March 2023 has already been “approved in principle.” However, the Fiscal Incentives Review Board (FIRB) released a statement in response saying that PEZA’s decision “lacks legal basis” and would need an approved resolution from a Cabinet-level interagency body. Thus, the FIRB is working with the Board of Investments in studying options to allow the WFH arrangements for the IT-BPM locators.
In a recent interview, Madrid has expressed that the industry is confident that PEZA’s letters of authority for registered business enterprises will “prevail” as it is a permissible activity within the IPA’s law. On the possibility that the extension is not granted, Madrid said, “Our industry has proven its resilience and flexibility. We remain confident that we will get the flexibility that our investors and even more importantly our employees, who are the bedrock of our industry, are all seeking.”
Members of the government, academe, and business sector are set to convene at the 14th IIS happening on September 27 and 28, 2022 via Airmeet and on September 29, 2022 via Airmeet and at the Sofitel Philippine Plaza Manila.
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Image source: industry.gov.ph
