The information technology and business process outsourcing (IT-BPO) industry remains a sunshine industry in the services sector, with gains contributing to growth rates of computer and information, and miscellaneous business, professional, and technical services, according to a recent report by the Bangko Sentral ng Pilipinas (BSP).
The BSP reported that net receipts from trade-in-services expanded to $657 million in the second quarter of 2011.
This figure is more than double the $324 million net receipts registered in the same quarter last year. Gains from BPO-related transactions contributed to the impressive performance of services sector. Computer and information services posted a growth rate of 10.3 percent, while miscellaneous business, professional, and technical services grew 25.1 percent.
The second quarter balance of payments (BoP) also sustained a surplus at $9 billion for the period January–August 2011, exceeding the forecast for the entire year and highlights the country’s improving fiscal position. The BoP surplus of $2.719 billion in August was the highest in eight months. In 2010, the BoP surplus reached a record $14.4 billion.
“The impact of IT-BPO industry in the services sector is a positive sign that we’re moving in the right direction. Industry stakeholders are committed to ensuring the strong performance of the sector,” Business Processing Association of the Philippines (BPAP) industry affairs executive director Raymond Lacdao said.
“By meeting its growth targets, including revenues of $25 billion by 2016, the industry will contribute to accelerating economic growth, which translates to more business opportunities, employment and development,” Lacdao added.
Global IT-BPO industry leaders and stakeholders have scheduled the Third Annual International Outsourcing Summit, which will be held on Oct. 11 and 12 to discuss the future of the industry and its role as a significant economic driver for the country. –Ayen Infante, Daily Tribune
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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