US Companies Will Keep BPO Investments in the Philippines
May 5 – Gus Cosio, president of First Metro Asset Management believes that US companies will keep their BPO investments in the country despite US President Donald Trump’s protectionist policies. Cosio explained that it will be unlikely that large US companies with long term investments in the Philippines, such as BPOs, will pull out of the country simply because a US president with a four-year term wants to bring back jobs to the United States.
He added that Trump also seems to be more concerned about bringing back manufacturing jobs to the U.S. instead of service jobs that predominate in the BPO sector. Cosio also downplayed the effects of geopolitical risks on investors in the region, such as the current tensions in the Korean peninsula.
Iloilo’s 172-hectare Green Meadows to Include BPO Buildings
May 5 – Iloilo City is gearing up for an influx of further investments, especially from business process outsourcing (BPO) companies, and to address the needs of BPO investors, Sta. Lucia Land is working on more expansion projects in Iloilo, including the 172-hectare Green Meadows. The said project will turn the property into a regional hub with a community mall, mid-rise condominium, and BPO buildings.
Aside from Green Meadows, Sta. Lucia Land is also developing the Metropolis Executive Village, Nottingham Villas, and SotoGrande Iloilo in Jaro. Iloilo’s economic growth is being driven by a wide range of industries including agribusiness, tourism, BPOs, trading activities, and service driven firms, including banks, educational institutions, hospitals, among others.
Philippines Unveils Cybersecurity Strategy Framework
May 4 – The Department of Information and Communications Technology (DICT), through its attached agency the Cybercrime Investigation and Coordination Center (CICC), has formally unveiled the country’s National Cybersecurity Strategy Framework.
DICT assistant secretary and concurrent CICC executive director Allan Cabanlong cited that the creation of the DICT hastened the drafting of the strategy after a long delay as he added that the framework will pave the way for the creation of a “cyber intelligence center” at the DICT building in Quezon City. The cyber intelligence center with a budget of P2 billion will be equipped with cyber state-of-the-art facilities such as testing laboratory and digital forensics.
BPOs Covered by Philippines Data Privacy Act
May 3 – Business process outsourcing (BPO) firms that often have access to the personal data of the customers of their foreign clients are covered by Republic Act 10173, also known as the Data Privacy Act of 2012, said House deputy majority leader and Cebu Rep. Gerald Anthony Gullas Jr. He added that banks, credit card issuers, insurers, pre-need providers, health maintenance organizations, water and electric utilities, telecommunications, cable and satellite TV firms, schools, hospitals, and the like are also covered by the law.
With the implementation of RA 10173, Gullas underscored that data protection officers and compliance officers for privacy are now as indispensable as an accountant in every organization that handles the personal records of individuals.
BPO Jobs Still the Most in Demand in Cebu
May 2 – Business Processing Outsourcing (BPO) related jobs in Cebu still top the list with the most number of hirings according to Wesley Chiongbian, Mynimo president and chief executive officer. He cited that contact centers’ expansions in Cebu will fuel the demand for more call center agents in the city. However, Chiongbian disclosed that BPO companies, including contact centers, continue to face retention issues due to the night shift schedule.
Another challenge he sees is the increasing competition for talent in the BPO sector. He said smaller local BPO firms are competing with multinational outsourcing companies in terms of attracting talent in Cebu. The BPO industry, which has at least 200,000 workers in Cebu, is one of the key drivers of the city’s economic growth.
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