SourceFit
MAY 23, 2012
The Philippines is a good example of a country thatâ’s taking the development path from an agricultural economy to an economy that is supported by services, according to Asian Development Bank (ADB) country director for the Philippines Neeraj Jain, who added that the traditional path of development is from agriculture to industries and then to services.
SourceFit
MAY 14, 2012
Information technology company IBM is set to expand its business in the Philippines and establish several research and development (R & D) centers in several locations in the country. This will be done through a partnership with the Department of Science and Technology (DOST). DOST Secretary Mario Montejo said in an interview with the Manila Bulletin that the move is a clear signal that technology companies such as IBM really look at the Philippines as a place to go for R & D activities.
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SourceFit
MAY 15, 2012
The Philippines is becoming a favored investment destination for large multinational companies that hope to expand and diversify their manufacturing operations worldwide, according to an official of investment banking giant BofA Merrill Lynch. He cited rising factory costs in China as one of the reasons behind the trend. BofA Merrill Lynch’s New York-based executive vice chairman for international corporate and investment banking James Quigley, said in a press briefing that currently there
SourceFit
MAY 9, 2012
Citing two global industry reports, Philippine Software Industry Association (PSIA) President Nora Terrado recently said that the Philippines is now considered one of five “mature locations”? providing outsourced software services. The PSIA president said that a report by the Everest Group “a business leader advisor on next generation global services” described the Philippines along with India, China, Poland and Brazil as “mature locations”?
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SourceFit
MAY 10, 2012
The Philippine government, represented by the Department of Finance, and the Asian Development Bank (ADB) signed a memorandum of understanding (MOU) to grant $650,000 in technical assistance to the Philippines’ Information Technology-Business Process Outsourcing (IT-BPO) sector. ADB Country Director Neeraj K. Jain and Finance Secretary Cesar Purisima signed the MOU during the 45th Annual Meeting of the ADB Board of Governors. .
SourceFit
MAY 8, 2012
A recent study by GlobalEnglish Corporation showed that the Philippines leads the world in business English proficiency among its workforce, beating even the United States, Canada and Australia. . The Philippines is the only country to reach intermediate level and a score of above 7.0 in the 2012 index of 76 countries worldwide. Joining the Philippines “with a score of 7.11” in the top five are Norway, with a score of 6.54; Estonia, 6.45; Serbia, 6.38; and Slovenia, 6.19.
SourceFit
MAY 1, 2012
The National Economic and Development Authority (NEDA) is projecting growth of at least 15% annually for the Philippines’ Business Process Outsourcing (BPO) sector. . According to NEDA Assistant Director General Ruperto Majuca, the estimated 15 percent growth is an average figure for the years 2011 to 2016. He indicated that It could even reach 20 percent if public and private partnerships are strengthened.
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