In previous years, the Philippines has made a big noise in terms of business process outsourcing. The BPO industry continues to be strong this year attracting more offshoring and outsourcing companies from Europe to expand their operations in the country . Guy Ledoux a European Union Ambassador to the Philippines said that the outsourcing to the Philippines is a way for a European firms to extend their competitiveness. It is really expected that European companies engaged in the business process outsourcing industry that will also develop their operations in the year 2012.
In the Philippines, it considered BPO or Business Process Outsourcing as a sunshine industry. The growth of the industry is predicted to increase 20 percent. It was last year when the Philippines has caught up India as the top outsourcing hub in the world. Statistics showed that more than 500,000 Filipinos are presently employed in BPO firms. He also targeting investments in renewable energy. This is in the connection of the news lat year that about 70 percent of new power generation capacity in Europe was renewable energy sources. The Europe is famous when it comes also to a renewable energy and European investors are looking forward to make a decision to feed in tariffs.
The European investments into the Philippines will highly depend on the investment climate in the country more than on their economic situation in Europe. This as far as foreign investment and trade between the two countries engage in business process outsourcing industry are concerned.
It is still difficult to forecast the level of trade and investment between European and Philippines although at this point in time especially this year. However, it is clear that there is obvious and strong willingness in both countries to further expand their economic links. To create a facilitative climate to attract European investors to the Philippines, Europe and Philippines are already making efforts.
REFERENCE:
http://www.eastvantage.com/news/european-outsourcing-firms-increase-its-growth-philippines
