EMPLOYMENT in information technology and business process management (IT-BPM) from January to September rose threefold, according to the Philippine Economic Zone Authority (PEZA). PEZA director general Tereso Panga noted the IT-BPM sector’s significant growth as it offered 16,556 jobs compared to the 5,427 in the same period in 2023. The combined total of jobs including 2023 totaled 40,527.
“We hope to achieve a minimum 50-percent increase in projected jobs to meet our minimum target of 60,000 new jobs for 2024,” Panga said, adding the figures may even be conservative, considering the IT and Business Process Association of the Philippines’ goal of generating 120,000 new jobs across the sector.
IT-BPM alone accounted for 60 percent of total number of jobs in all economic zones covered by PEZA. Latest data from the Philippine Statistics Authority showed the number of individuals with jobs reached 49.15 million in August, up from July’s 47.70 million and from a year-earlier 48.07 million.
This means employment rate climbed by 96 percent compared to 95.3 percent in the previous month, and 2023’s 95.6 percent. The services sector comprised the bulk of employment at 63.3 percent, followed by agriculture and industry at 19.3 and 17.4 percent, respectively.
Panga also highlighted the positive effect of foreign investments in generating new employment. He cited Hi-P, a PEZA-registered business enterprise with Singaporean equity, which has contributed significantly to local job creation.
Hi-P, a key supplier and subcontractor of Dyson Philippines, employs over 4,100 direct workers and generates P3.48 billion in revenues.
New projects worth P115.88B
To support the goal of further boosting employment, PEZA approved P115.88 billion in new and expansion projects from January to September, bringing total projects during the period to 179.The approved investments are seen to earn $2.51 billion in exports and create 35,871 direct jobs.
For September alone, PEZA authorized 16 new and expansion projects with P54.19 billion in investments and equivalent to 4,044 new jobs. Investments approved during that month included export manufacturing with eight; IT-BPM sector, five; and one project each in facilities development, ecozone logistics services, and ecozone development.
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