ITO Market to Grow 5.8% Annually From 2016-2020

Information and Technology OutsourcingApr 21 – Technavio, a leading technology research and advisory company, projects that the Information Technology Outsourcing (ITO) market in the Asia Pacific (APAC) region will grow at a compound annual growth rate of 5.80% during the period 2016-2020.

 

The company considers the revenue generated from infrastructure and application outsourcing services to calculate the market size. The ITO market in APAC is reportedly gaining ground with increased IT spending and related outsourcing activities by organizations in the region needed to stay competitive. Outsourcing provides benefits in cost savings and efficiencies. In the report, key vendors were identified as HP, IBM, TCS, Fujitsu and Accenture.

 

Ayala Land Earmarks P88bn CapEx for this Year

Ayala Land president Bernard Vincent ‘Bobby’ DyApr 21 – Philippine property giant Ayala Land Inc has allocated P88 billion in capital expenditure this year, with optimism that the property sector will continue to sustain its growth. Ayala Land president Bernard Vincent ‘Bobby’ Dy said the company’s optimism is on the back of the robust economy, buoyed by low interest rates, continued growth of remittances, and strong business process outsourcing industry.

 

The property giant is launching a 35-hectare property spanning Quezon City and Pasig City in a joint venture with the LT Group of Lucio Tan; the 250-hectare Evo City in Kawit Cavite; and the 25-hectare Azuela Cove in Davao City in a joint venture with the Alcantara group.

IT-BPO, OFW Remittance Remain Key Growth Engines – Markit

IT - BPO PhilippinesApr 20 – Analytics firm Markit has forecast that the Philippine economy will grow 6.3% this year, citing the information technology and business process outsourcing (BPO) industry and remittances from workers abroad as two key growth engines.

 

As with last year, the receipts from country’s BPO industry and remittances from Filipinos working abroad continue to be the top sources foreign exchange. The International Monetary Fund has retained its Philippine growth forecast for 2017 at 6.8% pointing to strong domestic demand, a recovery in exports, and higher public spending as the major growth drivers.

 

ICC to Organize Cebu’s Online Freelance Community

ICC president Michael CubosApr 18 – The Innovation Council of Cebu (ICC), a newly-formed organization under the Cebu Chamber of Commerce and Industry, is organizing the online freelancing community in the city to beef up the country’s position as the preferred hub for global online freelancing and rural impact sourcing.

 

ICC president Michael Cubos announced that they are identifying and organizing Cebu-based online freelancers so they can get support from both public and private sectors. He stressed that the group can avail of the government’s digital and information communications technology projects, which are being introduced in collaboration with the relevant industries.

 

ECOP Airs Concern Over Mandatory PWD Hiring in BPOs

 Sergio Ortiz-Luis Jr, acting ECOP presidentApr 19 – The Employers Confederation of the Philippines (ECOP) has aired some concern over pending bills that propose to impose penalties on companies that fail to employ people with disabilities (PWDs) for up to two percent of the number of new job vacancies at the company. ECOP stressed that there are specific sectors where such requirements would be difficult or impossible to implement such as business process outsourcing (BPO) companies.

 

The group cited that in a BPO with 30,000 operators, at least 300 positions for PWDs should be held, but Sergio Ortiz-Luis Jr, acting ECOP president, pointed out that considering the nature of skills required by BPOs, it is a certainty that most of these reserved positions will remain unfilled over time.