NextGen Day

The information technology and business process management (IT-BPM) sector has been urged to continue investing in the advancement of Filipino talent in order to sustain its growth, according to Alfredo Pascual, secretary of the Department of Trade and Industry (DTI).

Pascual said, although the Philippines continues to be the second-largest outsourcing destination, local players should not be complacent in upskilling their workforce. He was speaking at the IT-BPM Talent Summit in Makati City on Thursday.

“We can’t afford to relax. To maintain and spur the growth of our IT-BPM business, we need to enhance the digital talents of Filipino human resources and make them globally competitive, he said.

Up to 18% of the world’s IT-BPM talent comes from the local IT-BPM market, which is estimated to be worth between USD 265 billion and USD 275 billion.

In the rapidly changing digital landscape, Pascual added, “It is our duty as a country to harness this potential and develop a workforce that is not only competitive but also a formidable force.”

In the Philippines, he advised IT-BPM firms to support training and education initiatives that emphasize digital skills like coding, data analytics, cybersecurity, and artificial intelligence.

He continued by saying that the DTI and its investment promotion division, the Board of Investments (BOI), encourage efforts for talent development by working with stakeholders and offering financial incentives.

The DTI established an inter-agency technical working group to support the development of Filipino talent in the ITBPM industry, along with the departments of Education, labor, science, and Technology, Commission on Higher Education, Technical Education and Skills Development Authority, and IT Business Process Association of the Philippines.

“We can create a skilled, globally competitive workforce that will propel our ITBPM industry to greater heights,” Pascual added. “With the coordinated efforts of all of us here and other stakeholders.”

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