INDUSTRY players in business process outsourcing (BPO) in Davao Region have expressed confidence to meet the $25 Billion total revenue target by the end of 2016. Samuel Matunog, president of the Information and Communications Technology (ICT) Davao, Inc. and vice-president of the National ICT Confederation of the Philippines, told Sun.Star Davao on Tuesday’s interview that the target is reasonable enough. “In Davao City alone, our industry partners reported that in 2015 our full-time equivalent (FTEs) number is over 33,000 both from the formal and informal sector, a strong indicator that demand in BPO is growing every year. We have 20,000 graduating students in Davao every year, and 55,000 in our catchment areas covering Davao Region, Soccsksargen, and parts of Northern Mindanao, Caraga and Autonomous Region of Muslim Mindanao,” Matunog said.
Ayala Land Inc. (ALI) and the LT Group Inc. (LTG) are developing an integrated mixed-use township along the C-5 corridor. The development encompasses a 35-hectare property spanning portions of Pasig City and Quezon City. In separate disclosures to the Securities and Exchange Commission and the Philippine Stock Exchange released on Friday, both companies noted the project will offer a wide range of property investment as well as new economic opportunities. Ayala Land and the LT Group have forged a partnership for the project. Fernando Zobel de Ayala, chairman of ALI, and Lucio Tan, chairman of the LT Group led the contract signing for the partnership.
Philippine industries posted accelerating growth of 7.4 percent in combined gross revenues in the first quarter of 2015 from 6.3 percent a year earlier, paced largely by the expansion of earnings in the real estate sector, official statistics show. In the August 2015 issue of the Quarterly Economic Indices (QEI) of the Philippines, the Philippine Statistics Authority (PSA) said the real estate sector posted the fastest revenue increase of 13.7 percent in the first quarter from 13.4 percent in the same period in 2014. Employees’ compensation climbed 6 percent by end-March, building momentum from 5.2 percent growth posted in the year-ago period.