THE IT and Business Process Association of the Philippines (IBPAP) said it launched with industry partners a coalition that will invite foreign companies to locate their global capability centers (GCCs) in the Philippines.
In a statement, it said the collaborative effort is expected to help the IBPAP reach its “best-case” forecast of $50.5 billion in annual revenue and 2.14 million jobs by 2028.
The coalition is composed of advisory firms, real estate developers, banking partners, and investment promotion agencies, IBPAP said.
“Companies no longer choose locations based solely on cost. They choose places that can deliver resilience, capability, and depth of talent. That is where the Philippines competes today,” IBPAP President and Chief Executive Officer Jack Madrid said.
The coalition will position the Philippines as a GCC hub for technology, finance, analytics, cybersecurity, engineering, and enterprise services.
It will also seek to propel the outsourcing industry up the value chain by expanding artificial intelligence (AI) adoption and boosting cybersecurity.
The coalition will also explore new markets such as Europe, Japan, the Middle East, and the Asia-Pacific.
It hopes to expand the Philippines’ competitive advantage in healthcare services, including clinical support, revenue cycle management, health technology, and patient services, while strengthening capabilities across banking, insurance, fintech, payments, risk, and compliance, it said.
“IBPAP is inviting multinational corporations evaluating new GCC locations, mid-market companies seeking a high-quality global capability partner, and financial services and healthcare organizations pursuing more sophisticated, knowledge-intensive operations to make the Philippines their next investment destination,” the group said.
The IBPAP recently lowered its revenue and workforce targets for 2028 amid intensifying global competition and with AI replacing manual roles.
