Ibpap: Transfer of IT-BPM to BOI big win for WFH/hybrid setup

·2 min read

THE Information Technology and Business Process Association of the Philippines (Ibpap) on Monday, Sept. 19, 2022, lauded the transfer of registration of information technology-business process management (IT-BPM) enterprises to the Board of Investments (BOI) and the extension of the accommodation of work from home (WFH) arrangements.

Ibpap said this latest development was a two year battle in pushing for WFH/hybrid work.

“After two years of making a case for what the benefits of WFH/hybrid work are, it is great news that the Fiscal Incentives Review Board (Firb) will be facilitating a smooth paper transfer of the registration of IT-BPM enterprises from the Philippine Economic Zone Authority to the BOI,” said Jack Madrid, president and chief executive officer of Ibpap, in an emailed statement.

“This will not involve physically relocating their operations or giving up the incentives that they are currently enjoying. This is a wonderful outcome to Ibpap’s staunch advocacy for WFH/hybrid work, and we are extremely thankful to our partners in the government for listening to the sector and its employees in adapting to flexible work arrangements in the future of work.”

According to Ibpap, the WFH/hybrid work is a game-changer for the Philippines and the sustainability of the IT-BPM industry. It will be a contributing factor to create 1.1 million new direct jobs for Filipinos, generate billions more in revenue, and significantly increase the countryside footprint by 2028.

The sector which has about 1.44 million Filipino employees expressed its gratitude to the Marcos administration and to the Firb Board composed of the Department of Finance, the Department of Trade and Industry, the Department of Budget and Management and the National Economic and Development Authority.

Ibpap has been voicing the industry’s support for WFH/hybrid work since 2020. It said it goes beyond the business continuity plans related to the Covid-19 pandemic.

Ibpap said this is more “to adopt to global work trends for business flexibility that investors look for and to strengthen our country’s competitiveness in retaining existing and attracting new IT-BPM investors.”

“While it started out as an expedient measure in response to nationwide lockdowns, it very quickly ushered in a new era of work for the sector—reinforcing our agility and resilience and proving that the IT-BPM industry is an important pillar of the country’s economy,” the Ibpap said.