BPO industry buoys Philippine business services sector

A total of 114 foreign direct investment (FDI) projects were posted in the business services sector of the Philippines, making it the most prolific sector by number of projects this year, the Financial Times has reported. Most of the projects in the business services sector came into the country’s thriving business process outsourcing industry, the report added. From January to October 2015, there were 120 FDI projects in the Philippines, with the total figure expected to exceed those of 2014 by the end of the year. Traditional energy sector projects generated the most investment by value but the most by number of investments was seen in the business services sector, followed by the financial services, the Financial Times report added.