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Manila Bulletin devider Business devider Trade & Industry devider Strategic IT-BPM private-public partnerships pushed

Strategic IT-BPM private-public partnerships pushed

Published Sep 29, 2023 08:56 am

Trade and Industry (DTI) Secretary Alfredo E. Pascual has renewed his push for more strategic partnerships between public and private sectors to ensure the future of the country's information technology and business process management (IT-BPM) industry.

During the International IT-BPM Summit (IIS) in Manila on Friday, Sept. 29, Pascual said a five-year national development program for the IT-BPM industry will be signed soon, and it will focus on the upskilling and reskilling of potential and existing workforce, as well as the marketing and promotion, creation of talent hubs, and policy and regulatory support.

He also emphasized the role of collaborations with other government agencies, academia, and industry stakeholders in driving growth, innovation, and economic development in the sector.

“The DTI through our Board of Investments (BOI) is working in collaboration with other government agencies such as the Department of Information and Communications Technology (DICT), the academe, and other industry stakeholders to foster an enabling environment for the sustainable growth and development of the IT-BPM industry,” Pascual stressed.

In line with its science, technology, and innovation-driven (STI) strategy, Pascual reported that the DTI has taken proactive steps to facilitate the digital transformation of industries, particularly the IT-BPM sector.

He also emphasized that the whole-of-government approach is a way of implementing initiatives for upskilling and reskilling the Filipino workforce through capacity-building to make them globally competitive.

Following the growing opportunity for high-value services, the DTI chief also underscored that the role of the IT-BPM sector is crucial in coping with emerging trends in Industry 4.0 technologies, such as Big Data and Analytics  (BDA), Internet-of-Things (IoT), Automation and Artificial Intelligence (AI), and Cloud Computing. 

Further, Pascual cited that under the Philippine Development Plan (PDP) 2023-2028, the IT-BPM industry is targeted to be reinvigorated as part of the services sector.

The IT-BPM sector is projected to generate one million direct and 1.1 million indirect jobs by 2028, with an annual revenue growth of eight percent over the next six years.

Pascual highlighted the importance of the IT-BPM sector in the Philippines' technological transformation and innovation, stating the DTI-BOI is committed to establishing an all-inclusive digital infrastructure.

He cited government reforms to boost IT-BPM sector investments such as incentives under Tier 1 of the Strategic Investment Priority Plan (SIPP) to promote industry innovation within the industry.

These perks include: an income tax holiday (ITH) of four to seven years, depending on the location and industry tier; enhanced deduction (ED); depreciation allowance of 10 percent for buildings and 20 percent for machinery; special corporate income tax rate (SCIT) of five percent for 10-year export enterprises; and duty-free importation of capital equipment, raw materials, spare parts, and accessories.

The IIS, organized annually by the IT & Business Process Association of the Philippines (IBPAP), showcases the country's IT-BPM industry's advancements and issues to provide insights for stakeholders and stakeholders. (Ma. Joselie C. Garcia)
 

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