PHL needs more investment in IT training, open business ecosystem — experts
THE PHILIPPINES needs to invest more in enhanced educational programs, an open business ecosystem, and digital infrastructure to become a more competitive regional hub for information technology (IT) talent, according to experts.
Japanese technology firm Sansan, Inc. said that the Philippines is actively attracting and supporting global IT companies through its high-level IT education and a large pool of talented engineers.
“The Philippines has an opportunity to attract more foreign companies to set up tech hubs in the country that serve the wider ASEAN region, especially for software development and engineering talent,” said Sansan Executive Officer Fujikura Shigemoto.
“This will boost foreign direct investment into the country’s economy, supporting the government’s agenda,” he said in an e-mail interview.
The information technology-business process management (IT-BPM) industry saw an 8.4% growth with an additional 121,000 full-time employees (FTEs) out of the total number of 1.57 million FTEs in 2022, according to the Department of Information and Communications Technology (DICT).
The sector’s revenues increased to $32.5 billion in 2022 from $29.5 billion in 2021.
By this year, the IT and Business Process Association of the Philippines (IBPAP) sees the IT-BPM industry growing to about 1.7 million FTEs, with revenues reaching $35.9 billion.
Mr. Shigemoto noted that the country must increase access to quality education and training by targeting key areas of technology and entrepreneurship.
“This should include initiatives to partner with leading technology firms and educational institutions to provide enhanced educational opportunities and training programs,” he said.
IBPAP President Jack Madrid said a national talent upskilling program would help improve the IT-BPM workforce and ease the ‘talent crisis’ plaguing the sector.
Mr. Madrid told BusinessWorld in an e-mail that there is a need to form an IT-BPM services online talent hub, as well as establish early-stage interventions to improve the employability of senior high school and higher education institution graduates.
He also proposed raising the capacity for specialized degree courses to increase talent supply for the IT-BPM sector.
Moreover, Makati-based teach learning platform CloudSwyft
Global Systems, Inc. has partnered with the Education department alongside various schools last year to deploy its virtual laboratory access for the upskilling and employability of senior high school and college students.