THE Board of Investments (BoI) has approved a P35.2-million project in Taguig City as part of efforts to improve the country’s information technology-business process management (IT-BPM) sector.
In a statement on Wednesday, the BoI said that the project registration of DB Results (Philippines), Inc. as a new service provider in the local IT-BPM sector had been approved under Tier 1 of the Strategic Investment Priorities Plan (SIPP).
DB Results (Philippines) is a newly incorporated firm that offers services such as digital software development and solutions, cloud-managed services, software program management, and delivery, systems implementation and integration, and IT consulting.
According to the BoI, the project will soon open its site in Bonifacio Global City and will provide digital software that can improve the operations of companies in the financial services, retail, utilities, and pharmaceutical industries.
It added that the project will adopt 100% work-from-home (WFH) arrangements and is expected to generate 198 direct labor and selling or administrative full-time employees in the fifth year of its operation.
DB Results (Philippines) is a unit of Australian firm DB Results Pty. Ltd., which has business interests in providing high-end digital software solutions to major companies in sectors such as financial services, retail, utilities, telecommunications, and pharmaceutical.
Up to 70% of its revenues will be from export services to Australia, Hong Kong, and Thailand, while 30% will come from clients in the Philippines.
“The firm chose the Philippines as the location of its project because of its known competitive Filipino workforce with high technical skills and level of English proficiency,” the BoI said.
According to the BoI, the local IT-BPM sector posted $29.49 billion in revenues for 2021, up 10.6% compared to 2020 figures, and is one of the top-performing and job-generating activities in the Philippines.
BoI Managing Head and Trade Undersecretary Ceferino S. Rodolfo said that the project will boost the country’s IT-BPM industry.
“Attesting the competitive edge of the Philippines in the industry, this latest addition to the many thriving companies in the sector is a testament that the Philippines remains as a top destination for IT-BPM industry,” Mr. Rodolfo said. — Revin Mikhael D. Ochave