Showcasing the Island of Ingenuity to the Pearl of the Orient: Exploring opportunities for mutually-beneficial engagements in the ICT-BPM sector
Working on identified opportunities to strengthen bilateral trade and investments with the Philippines in key sectors, the Embassy of Sri Lanka in Manila, has been making strides in bridging Philippine ICT-BPM players with their reputed Sri Lankan counterparts to spur win-win collaborations, partnerships, and prospective investments.
The Embassy, in cooperation with the Sri Lanka Association of Software Services Companies (SLASSCOM) and the Board of Investments (BOI), has facilitated a number of introductory and exploratory meetings for reputed IT-BPM companies operating in the Philippines such as EMAPTA, Hinduja Global Solutions-Philippines, Transcosmos Asia Philippines Inc., etc. to promote Sri Lanka as a potential destination for expansion.
Through the initial efforts of the Embassy and the facilitation of SLASSCOM and BOI, EMAPTA, a leading offshore staffing company in Australia and the Philippines, has signified its interest to set up a center in Sri Lanka and is currently working with the BOI for the necessary procedure. Hinduja Global Solutions, as with the rest of the companies, expressed its enthusiasm to study expansion opportunities and visit the country as soon as the situation allows.
Sri Lankan innovative and high-value solutions in the areas of AI, automation, HR software and solutions, among others, are also continuously promoted to potential partners in the Philippines for commercial adoption and distribution.
Meanwhile, for higher level industry cooperation between both countries, the Embassy has linked the IT and Business Process Association of the Philippines (IBPAP) and SLASSCOM for potential convergence in complementing both country’s expertise in this sector. Other areas for collaboration being studied on includes the upskilling requirement of the Filipino IT-BPM labor force.
Pursuant to the national economic policy framework, “Vistas of Prosperity and Splendour”, the Embassy has identified the ICT-BPM sector as a priority area in its economic diplomacy initiatives considering that the Philippines is a leading player in the IT-BPM industry excelling in voiced based services catering to key markets in various industries around the world. In fact, the industry is estimated to have generated $26.3 billion in revenues and provided jobs for 1.3 million Filipinos in 2019.
Embassy of Sri Lanka
13 August 2021