Manila, Philippines: 23rd September 2011, Andrew Tan, Chairman and CEO of Megaworld Corporation have put forward a new plan for the enhancement of Business Process Outsourcing and Information Technology (BPO & IT) sector in Philippines. The BPO triangle strategy initiated is to spread the BPO business into global scenario and also to attract more US based foreign direct investors to the nation.
It was in 1990 the first IT Park named Eastwood City Cyberpark was established in the country by Andrew Tan which has later own grown to become a huge revenue generating milestone for Philippines. Today the Park holds the number one position with top business process outsourcing firms, most of them either from US or working on solutions and services for the US clients.
Today, the million dollar business magnet has again come up with some strategies exclusively for the BPO and IT sector. He is to unleash a high-profile business project that is the three cyber parks to focus on outsourcing activities in Metro Manila. This triangle strategy will obviously make more progress in the sector which will also have positive impacts on the nation. Moreover the focus on locations such as Iloilo and Cebu in the urban country sides is a perfect decision so as there are immense benefits in these areas.
According to him the new strategic decision has benefits for the company as well as for the society. As the company can tap benefits such as cheap land, building & even workforce and the society will be benefited with immense job opportunities and economic development. He also added that it could also enhance the family incomes of the people living nearby and can also come up with small industries related to the sector. The new Richmond tower which is coming up in the Iloilo Park will be capable to host immense space for BPO related business practices; it also has facilities such for refreshment, conference room, guest house and etc. Megaworld also assures that the park will be well equipped to deliver employment to more than 2400 workers at first and later own it will be increased according to the expansion.
Today US based companies are more focusing on the innumerous advantages that offshore outsourcing sector such as Philippines can deliver. In the past three years the Pilipino BPO and IT sector has witnessed tremendous flow of foreign direct investments from US and UK which is also expected to raise in another five years.