Transferring Business Process Outsourcing (BPO) firms to the Bureau of Investments could create over 1.1 million jobs, add billions in revenue and increase economic activities in the Philippine countryside by 2028, said the IT and Business Process Association of the Philippines (IBPAP).
According to IBPAP, the work-from-home (WFH) arrangement had ushered in a new era of work for the sector.
The group added that after two years of lobbying the government about the benefits of WFH and hybrid work models, “it is great news that the FIRB will be facilitating a smooth paper transfer of the registration of IT-BPM enterprises from the Philippine Economic Zone Authority (PEZA) to the BOI.”
FIRB explained that the transfer will be a smooth process and will not include physically relocating BPO operations or giving up the incentives that they are currently enjoying.
“This is a wonderful outcome of IBPAP’s staunch advocacy for WFH/hybrid work, and we are extremely thankful to our partners in the government for listening to the sector and its employees in adapting to flexible work arrangements in the future of work,” IBPAP added.
Moreover, the industry group emphasized that the transfer offer signifies that the government recognized the sector’s economic contribution.
“On behalf of the Philippine IT-BPM sector and its 1.44 million Filipino employees, the IT and Business Process Association of the Philippines (IBPAP) would like to express our appreciation for President Ferdinand ‘Bongbong’ Marcos Jr.’s clear understanding and vision of how indispensable IT-BPM is to the economy,” IBPAP’s statement concluded.