Much of the confidence of industry leaders come from the fact that more foreign investments have poured into the country in recent years as the Philippines gained trust and confidence from foreign investors. Furthermore, the administration of President Benigno Aquino III continues its active efforts in seeking and securing public-private business partnerships with foreign countries in Europe.

Much of the confidence of industry leaders come from the fact that more foreign investments have poured into the country in recent years as the Philippines gained trust and confidence from foreign investors. Furthermore, the administration of President Benigno Aquino III continues its active efforts in seeking and securing public-private business partnerships with foreign countries in Europe.

In recent years, the Philippine Business Process Outsourcing (BPO) industry has experienced phenomenal growth with call centers and other outsourcing (BPO/KPO) firms increasing in numbers. With the outlook for the future of the industry looking bright, Business Processing Association of the Philippines (BPAP) has recently “jacked up” its revenue goals to $26 billion by 2015. This latest revenue goal is higher than its previous outsourcing earnings forecast, made earlier this year, which was $25 billion by 2016, and double the expected earnings forecast this year which is $13 billion.

Industry leaders acknowledge that this earnings projection is “ambitious” but remain confident in reaching this target. “… We are sticking with it. The government wants a higher target. If we aren’t ambitious, then we won’t grow,” said Rainerio “Bong” Borja, a director of the Business Processing Association of the Philippines (BPAP) and president of Aegis-People Support, one of the largest BPO companies operating in the Philippines.

Much of the confidence of industry leaders come from the fact that more foreign investments have poured into the country in recent years as the Philippines gained trust and confidence from foreign investors. Furthermore, the administration of President Benigno Aquino III continues its active efforts in seeking and securing public-private business partnerships with foreign countries in Europe.

Related Article: UK assures Philippines of more investments

During his visit to London, United Kingdom, President Aquino was assured by British Prime Minister David Cameron “of his government’s continued support for the Philippines’ public-private partnership program (PPP) and said he looked forward to more British companies investing in the country.”

“Mr. Aquino met with Cameron a day after he presided over business meetings where deals amounting to $1.03 billion were signed with British companies.”

Related Article: PNoy UK visit: British investors keen on PHL that means business

Active efforts to promote the Philippines among foreign investors have been in progress in Germany and Canada as well.

In Germany, the Philippine Embassy in Berlin co-hosted a business forum with Wirtschaftsrat der CDU Berlin-Brandenburg, a large and influential private business association affiliated with the Christian Democratic Union (CDU), the largest political party in Germany.

Related Article: BPO sector jacks up revenue goal to $26B by ’15

“The forum aims to increase awareness of the Philippines among German entrepreneurs, according to a statement issued by the Department of Foreign Affairs (DFA) Saturday.”

Meanwhile in Canada, Philippine Ambassador to Canada Leslie Gatan addressed members of the Greater Saskatoon Chamber of Commerce, urging Canadian businessmen “to look towards the Philippines as their definitive gateway to the Asean Economic Community (AEC) and Asia.”

Related Article: IT-BPO Sector Eyes $25B Target in 2016

 

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