IBPAP, SEIPI eye robust Philippine exports

Two of the country's formidable business groups — the IT and Business Process Association of the Philippines and the Semiconductor and Electronics Industries in the Philippines Foundation Inc., recently forged a strategic alliance to drive Philippine exports to new heights.

"This historic collaboration marks a pivotal milestone in the Philippine business landscape, uniting the country's leading commodity exporters in a strategic effort to bolster exports and propel the nation's economic growth," said Dan Lachica, SEIPI president.

He added: "The partnership is poised to harness the collective strengths of SEIPI and IBPAP, heralding a new era of innovation, efficiency, and global competitiveness for the Philippine export industry."

Both the IT-BPM sector and the semiconductor and electronics industry contribute significantly to the Philippine economy in terms of jobs and revenues.

Combined, they account for more than 20 percent of the country's gross domestic product.

Also, the partnership is geared towards amplifying the positive impact of their respective sectors in driving economic progress, fostering innovation, and promoting environmental, social, and governance or ESG initiatives in the country.

Initiatives

Outlined in the MoA are five key areas of cooperation to help accelerate the growth of both industries in the Philippines which include the ease of doing business by creating a more business-friendly environment through consistent engagement with the national and local governments and by advocating for policy reforms that simplify and streamline business processes for investors; ESG agenda by collaborating on initiatives that address current and emerging social, environmental, and corporate governance issues; and industry development by fostering higher value Business Process Outsourcing or BPO services in the semiconductor and electronics sector for research and development and integrated circuit design.

Moreover, the MoA is also aimed at promoting investments that will result in job creation by attracting and retaining investors through comprehensive marketing and communication strategies, which enhance job opportunities; and the utilization of technology and artificial intelligence by leveraging new technologies like AI to improve the inventory of practices of both industries, encourage knowledge sharing, and implement projects to promote the use of other emerging tools.

Reaffirming IBPAP's commitment

For his part, IBPAP president and CEO Jack Madrid said the agreement reaffirms IBPAP's commitment to drive the sustained growth of the IT-BPM sector, generate more employment opportunities for Filipinos, and enable our economy's upward trajectory.

"Guided by the Philippine IT-BPM Industry Roadmap 2028 and in line with the IT-BPM ESG Program, we will continue to engage with our stakeholders in the government, academe, and allied sectors such as the Semiconductors and Electronics industry," Madrid stressed.