Philippine BPO among sectors to benefit from ASEAN integration

The Philippines’ business process outsourcing (BPO) sector will be among the country’s sectors that will benefit from the ASEAN integration, according to Aekapol Chongvilaivan, country economist at the Asian Development Bank. Chongvilaivan said a number of sectors, including BPO, could benefit from the ever-increasing ties in the region as the Philippines forms part of the ASEAN Economic Community. Aside from BPO, other sectors that stand to benefit from the integration are agro-business, consumer products, mining and minerals. Chongvilaivan, who spoke at the BusinessWorld-Philippine Airlines ASEAN Regional Forum in Pasay City, also said that the ADB expects the Philippine economy to grow by 6.8% for 2016 and 6.4% in 2017, up from earlier forecast for a 6.4% growth for this year and 6.2% in 2017.