Information technology and business process outsourcing (IT-BPO) companies in the Philippine Economic Zone Authority (PEZA) invested P328.6 billion in the past two decades, an official said.
PEZA Deputy Director-General Tereso Panga said these investments of IT-BPO firms in ecozones generated $11.5B in export revenues and created 962,304 direct jobs for over 20 years.
Since 2000, PEZA started to register IT parks and centers and IT-BPO locators.
As of November 2021, there were 297 IT parks and centers and 1,273 IT-BPO companies registered with the ecozone.
“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,” Panga said.
He added despite the Covid-19 pandemic, the local IT-BPO sector has remained resilient amid the challenges brought by the global health and economic crisis.
“Despite the unprecedented impact of the Covid-19 pandemic these past two years, this industry has proven itself to be one of the most robust and fastest-growing industries in the country. With the unhampered operations since day one of the pandemic, IT locators have sustained the jobs and kept the economy afloat,” Panga said.
He added PEZA has rolled out support for its IT-BPO locators during the pandemic such as allowing the hybrid work arrangements, tax deductions relief related to pandemic expenses, and contactless transactions. – PNA
April 26, 2024
