THE Information Technology and Business Process Association of the Philippines (IBPAP) plans to work with advertising agencies to attract more investment in the outsourcing sector this year.
“Dun naman sa (in terms of) country marketing, we are working with ad agencies who will help us in terms of improving the overall market perception of the country,” IBPAP President and Chief Executive Officer Rey C. Untal told reporters on Monday.
He said the IBPAP board is studying plans to help the industry meet its revised forecast.
The industry cut its revenue and employment targets after a recent slowdown. Based on a study from the Everest Group, IBPAP expects 3.5 -7.5% revenue compound annual growth rate (CAGR) for 2020-22, compared to the 9% set in 2016.
Everest studied the effects of automation, geopolitical shifts, and global protectionist policies on the industry slowdown.
Employment growth was tempered to 3-7% or 1.42-1.57 million full-time employees, compared with the initial 8% projection.
IBPAP is also working on plans to upskill employees by partnering with the Department of Information and Communications Technology and the Department of Science and Technology to create talent development programs.
Mr. Untal said the industry saw slight growth in 2019 from the previous year as it attracted new players and business expansions.
The association continues to request for pending applications for ecozones in Metro Manila to be approved, following a government moratorium on processing new ecozones in the region to promote countryside development.
Mr. Untal said some of the ecozone applications had been approved, but the industry is awaiting more approvals as it anticipate stronger growth. — Jenina P. Ibañez