Investments in the country’s business process outsourcing (BPO) industry is expected to reach $60 million this year as the Philippines remains the most stable country in the Southeast Asian region, international property services firm CB Richard Ellis (CBRE) said.
“The Philippines is the most stable country in the Southeast Asian region,” CBRE chairman Rick M. Santos reiterated in a press briefing yesterday. “There are no talks of any coup and the peso has been stable over the years”.
He said the Philippines is a maverick market among countries greatly affected by the slowdown in global consumer demand.
The country has a number of industries that will insulate the economy from the global recession, specifically the BPO and tourism sectors, Santos pointed out.
He noted that amidst the global credit crisis, the environment of doing business in the Philippines has provided a refuge for foreign direct investors.
Likewise, he said overseas Filipino workers’ remittances, a large domestic market, and relatively low cost of doing business should be able to keep the local economy growing in 2009 en route to its original recovery plan by 2010.
Meanwhile, CBRE research and consultancy director Victor Asuncion said offshoring is expected to continue in spite US President Obama’s campaign to encourage US firms to keep jobs in the United States.
Asuncion said companies will continue to seek destinations which offer cheaper operations costs. In fact, he said he is seeing a lot of expansions of existing BPOs in the country as reflected in the high inquiries they are receiving.
Asuncion said they expect to fill the 240,000-square meter office space for BPOs. With an investment of between $1,000 to $ 1,500 per BPO seat, the estimated new investments for the sector would amount to between $40 million to $60 million.
He said they expect more technical support and back-office operations of major US firms and financial institutions to come in, given the huge 70-to 80-percent disparity in salaries.–Ma. Elisa P. Osorio, Philippine Star
Nov 16 – International Day for Tolerance
“No more toleration of corruption!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
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November
Nov 2 – Intl Day to End Impunity for
Crimes Against Journalists
Nov 9 – World Science Day for Peace
and Development
Nov 16 – International Day for Tolerance
Nov 19 – World Toilet Day
Nov 20 – World Children’s Day
Nov 25 – Intl Day for the Elimination of
Violence Against Women
Monthly Observances:
Homes Safety Month
Filipino Values Month
National Rice Awareness Month
National Consciousness Month
for Punctuality and Civility
Environmental Awareness Month
National Children’s Month
Organic Agriculture Month
Weekly Observances:
Nov 19-25: Global Warming and
Climate Change Consciousness Week
Nov 23-29: National Girls’ Week
Population and Development Week
Nov 25 – Dec 12: Social Welfare Week
18-Day Campaign to End
Violence against Women
Week 2: Week 3: Drug Abuse Prevention
and Control Week
Last Week: Safety and Accident
Prevention Week
Daily Observances:
Last Saturday: Career Executive Service
Day
Nov 19: National Child Health Day
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