PEZA and IT-BPM industry group sign investment partnership

The Philippine Economic Zone Authority (PEZA) and the Information Technology and Business Process Association of the Philippines (IBPAP) signed an agreement on Nov. 5 to jointly pursue investment in the country’s information technology and business process management sector.

The memorandum of understanding was signed by Tereso Panga, PEZA’s director-general, and Celeste Ilagan, IBPAP’s president. It provides for closer cooperation on helping investments enter the Philippines, assisting investors and coordinating policy.

Planned briefings and technical consultations will seek to resolve concerns raised by investors and improve business conditions. The organisations also intend to broaden investment opportunities in the sector beyond Metro Manila.

Workforce development is another part of the agreement. The partners will use PEZA’s Advanced AI Tech Academy to upgrade workers’ skills for AI-enabled services and higher-value work as industry demand changes.

Panga said combining the agency’s investment facilitation role with IBPAP’s expertise and network could encourage fresh investment and reinvestment. IBPAP is the Philippine IT-BPM industry’s umbrella organisation, representing over 400 member companies.