Philippine council seeks $70.8Mn for IT-BPM scholarships
MANILA, PHILIPPINES — The Philippines’ Private Sector Advisory Council (PSAC) is urging the government to allocate PHP4 billion (US$70.8 million) for IT-BPM (Information Technology-Business Process Management) scholarships.
According to the PSAC, their plan includes training 50,000 candidates annually and integrating them into the Philippine IT-BPM workforce.
In a strategic meeting with President Ferdinand Marcos Jr., PSAC presented a collaborative roadmap with the IT and Business Process Association Philippines (IBPAP). Their shared vision is to solidify the Philippines’ position in the global digital arena.
According to the roadmap, there’s a target to create 1 million IT-BPM jobs by 2028. This initiative is expected to yield 550,000 IT-BPM opportunities in rural regions and a further 6.3 million indirect jobs across various industries.
Sabin Aboitiz, CEO of Aboitiz Group and PSAC’s lead convenor, highlighted the economic benefits outlined in the roadmap, including a potential contribution of PHP169 billion (US$2.99 billion) in yearly personal income tax and an 8.9% surge in the GDP.
He emphasized harnessing Filipino talent and capitalizing on technological advancements for the nation’s growth.
The council also recommended a collaboration among the Department of Education (DepEd), Commission on Higher Education (CHED), and Technical Education and Skills Development Authority (TESDA) to enhance enterprise-based training programs.
PSAC also stressed the need for strong cooperation between government and private entities to effectively implement these recommendations and advance the nation’s workforce with comprehensive training.
