PH’s IT-BPM sector expected to aggressively grow
Department of Trade and Industry Secretary Alfredo Pascual believes that the Information Technology and Business Process Management (IT-BPM) industry in the Philippines will expand further in the next few years.
During the Post-SONA (State of the Nation Address) Economic Briefing, Pascual said the sector’s potential “is even greater now” due to the heightened use of digitalization and online services post-pandemic.
He added that the IT-BPM is among the sectors that the DTI is focusing on in terms of investment promotion efforts.
In 2021, the Philippines IT-BPM sector generated a total of $29.49 billion worth of revenues last year, 10.6% higher than in 2020. Its full-time employees also rose by 9.1% year-on-year to reach 1.44 million last year.
This 2022, the government is expecting the revenues of the IT-BPM space to reach $29.1 billion by year-end.
Meanwhile, Department of Finance (DOF) Secretary Benjamin Diokno said that the mining industry has high growth potential as the government lifts the four-year-old ban on open pit mining. Mining is also seen as a potential contributor to the country’s efforts to recover from the COVID-19 pandemic.
