The IT and Business Process Association of the Philippines (IBPAP) touted the ease of doing business being offered to investors when they choose to locate in special economic zones administered by the Philippine Economic Zone Authority (PEZA).
IBPAP President and CEO Jack Madrid said in his presentation “Philippines: Your Investment Haven in Asia” during the investment promotion forum in Washington D.C. on Jan. 12 that the ease of doing business at PEZA supports companies and help them leverage business opportunities to maximize investment returns.
“The Philippines offers a distinct value proposition for IT-BPM, which is why we are an undisputed leader in that space,” said Madrid. “The country’s enabling infrastructure, growing strength in digital and high-complexity work, and focus on sustainability are just some of the things that have made this possible. But the major factors that really put us on the global map are the favorable and cost-competitive business environment and the exceptional Filipino talent.”
Notably, Madrid cited PEZA’s “one-stop-shop services and no-red-tape and no-graft-and-corruption policies” that attest to how much we value the ease of doing business for our investors and our commitment to drive investments, create jobs, and stimulate countryside development.”
On the talent front, IBPAP works with the government and the academe on various upskilling and reskilling initiatives to ensure that investors and locators will continue to reap the benefits of the Philippines’ robust and diverse talent pool.
Philippine Ambassador to the United States Jose Manuel G. Romualdez, who hosted the event at the Philippine Embassy in Washington, D.C., expressed the Philippines’ readiness to engage the business community in the US and assured them that the national government is dedicated to fostering a more conducive business environment for foreign investors and stronger economic ties between the Philippines and the US.
“Philippines: Your Investment Haven in Asia” is just the first of many investment promotion initiatives that IBPAP will participate in this 2023.
With the launch of the Philippine IT-BPM Industry Roadmap 2028, the association is ramping up its initiatives to align with the sector’s acceleration levers in Policy & Regulatory, Talent Development, Infrastructure Expansion, and Marketing & Brand Repositioning. The industry seeks to add 1.1 million new jobs and the generation of $59 billion revenue by 2028.
As an indispensable pillar of the economy, achieving this ambitious goal is also in support of the national government’s agenda “to reinvigorate job creation and accelerate poverty reduction by steering the economy back on a high-growth path.”
The investment promotion forum was organized by the Philippine Economic Zone Authority (PEZA), the Philippine Embassy, the Department of Trade and Industry’s (DTI) Philippine Trade and Investment Centers (PTIC), the US-Philippines Society, and the Federation of Philippine-American Chamber of Commerce (FPACC).