“One of our focus is on incentives -- either we maintain or modernize our incentives because some of them needs updating,” said IT and Business Process Association of the Philippine (IBPAP) board trustee Rainerio Borja regarding the purpose of updating Philippine Incentive System.
Borja mentioned that updated fiscal and non-fiscal incentives would be the country’s edge against global competitors. The IBPAP board trustee also emphasized that the coverage of Philippine Economic Zone Authority (PEZA) benefits are too specific on location. This prevents the government to support places outside the economic zones. Moreover, IBPAP proposed to expand the PEZA benefits to cover larger markets.
In the Philippine IT-BPM Roadmap 2022, the government would focus on supporting the BPO industry through economic and policy frameworks. This paves way for the industry to increase trades and investments while giving evidence-based incentives to businesses. Borja also mentioned that modernization of policy is a vital factor in maintaining the country’s global edge.
Meanwhile, Borja further explained that the government needs to be active in updating the system since the Philippines has a number of competitors in the BPO industry.