German firms eye BPO investments in the Philippines

German firms eye BPO investments in the Philippines

The business process outsourcing (BPO) in the Philippines is among the sectors German companies are most interested in investing in, according to German-Philippine Chamber of Commerce and Industry (GPCCI) Executive Director Martin Henkelmann. In addition to BPO, infrastructure and energy are viewed as the top investment opportunities in the country by German firms, said Henkelmann. He noted that the Philippines’ strong BPO industry is still the main driver for German companies to outsource services here to cater to German firms’ English-speaking clients. However, he warned that there were a number of concerns for investors. “We are a little bit worried about the TRAIN 2 law,” he said. “This will reduce the advantages in the PEZA zones.” He also indicated concerns over the country’s ‘twin deficit’ in its fiscal and current accounts, which could cause problems for the economy’s long term growth.

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