The Department of Trade and Industry (DTI) said the Philippines remains as a reliable investment destination for information technology and business process management (ITBPM) companies amid the challenging business environment brought by the Covid-19 pandemic.
“Talk about ITBPM. We still have a clear advantage given the quality of manpower we have. We are still the “go-to guy” when it comes to ITBPM despite the technology,” DTI Secretary Ramon Lopez said at the recent 28th Metro Manila Business Conference.
Despite the rapid growth in emerging technologies such as artificial intelligence, Lopez said there will still be Pinoy manpower to run the machines. “Yes there are machines that can aid BPOs, but what we have to do is get all these new technologies for greater efficiencies and lowering the cost of ITBPM service,” he added.
Lopez noted that this means ITBPM firms should focus on upskilling their workforce as these technologies change the nature of jobs needed in the industry. “It also means that you will have to upskill and level up the kind of jobs we have to develop to be able to service all these technologies around us,” he added.
The DTI Secretary has also called for the approval of the CREATE (Corporate Recovery and Tax Incentives for Enterprises) Bill in the Congress to entice more investments through reduced corporate income tax rates and providing fiscal incentives to investors.