THE Information Technology and Business Process Association of the Philippines (IBPAP) said it will soon release a revised version of its medium-term industry plan after targets were not met in 2017 and 2018, though it remains hopeful about 2019.

IBPAP, which refers to its industry as the information technology and business process management sector (IT-BPM), said the revised plan is due to be issued in September.

Speaking to reporters Thursday, IBPAP Chairman Lito T. Tayag said that the medium-term plan is currently being revised “right now… By around September we shall come up with a re-calibration of the road map,” he said.

Launched in 2016, Roadmap 2022 outlines the goals and projections IBPAP aims to meet in various sub-sectors of the IT-BPM industry. The blueprint also serves as a guide for the industry to increase its capabilities.

The original targets laid out in Roadmap 2022 included direct and indirect employment of 7.6 million and $40 billion in revenue.

He did not provide details of the planned revisions, but said: “2017 was not a good year. 2018… was also lower than our projections. We’re very hopeful about 2019 but we have yet to see.”

In May, IBPAP President Rey E. Untal told reporters the sector’s revenue grew 4%-5% to as much as $24.8 billion. At the time, IBPAP said it plans to lower its Roadmap 2022 annual revenue projections.

Mr. Tayag added that research company Everest Consulting Group Inc. is responsible for preparing a final report.

Investment in the outsourcing industry has been dented by US government policy encouraging repatriation of outsourced operations as well as uncertainty over Philippine tax reform. Earlier this year the Philippine government also announced a freeze in new economic zone proclamations for the IT industry in the National Capital Region. — Gillian M. Cortez