IT-BPO Companies Investments Hit P329-B in 2 Decades: PEZA

Investments from Information technology and business process outsourcing (IT-BPO) companies to the Philippines is already nearing PHP300 billion as a Philippine Economic Zone Authority (PEZA) official said that some PHP328.6 billion was invested in the country in the course of two decades since the country started to register IT parks and centers.

The almost PHP300 billion in investments has generated USD11.5 billion in export revenues and created 962,304 direct jobs in the past 20 years, PEZA deputy director general Tereso Panga said.

Panga added that the IT-BPO industry has become one of the country’s most dominant industries.

“The IT-BPO has become one of the country’s dominant industries since PEZA started allowing the registration of vertical ecozones and IT locator companies in 2000,” he said.

The Philippines has 297 IT parks and centers, and 1,273 IT-BPO companies registered with PEZA as of November 2021.

Moreover, Panga said that the IT-BPO industry has been resilient amid the challenges that the COVID-19 pandemic brought, with the industry being able to continue operations and adapt to new work schemes.

“Despite the unprecedented impact of the COVID pandemic these past 2 years, this industry has proven itself to be one of the most robust and fastest growing industries in the country. With their unhampered operations since day one of the pandemic, IT locators have sustained the jobs and kept the economy afloat. They have implemented alternative work schemes and provided various assistance to their employees to ensure business continuity as well as the health and safety of their employees.” he said

PEZA started registering IT parks and centers, and IT-BPO locators in 2000. (GFB)