MANILA, Philippines - Tech inventor and investor Paco Sandejas said the government should move faster when working with investors.
Sandejas, managing director of Narra Ventures, said he invested in companies in China that work 2 to 3 times faster. In 6 months, he noted they can finish a job that Philippine companies haven't even staffed yet.
Sandejas urged government officials to be ready to fire friends who are underperforming.
Meanwhile, Sandejas also said the country, especially the business process outsourcing sector, should work to move up the value or risk falling by the wayside like the once-promising electronics industry.
""What we are lacking though, also in BPO, is we need to accelerate that move up the value chain. At the Philippine Development Foundation, we are emphasizing the need to deepen knowledge of engineering and science. These companies can be here in the Philippines but we need more people, we need those product managers and we need the scientists," Sandejas said.
"It's gonna go the way, unfortunately, of electronics where in a way, electronics we were top of the world in manufacturing and if we don't move the value chain up, same with BPOs, we're cost competitive for service but we want to be a modern Philippines where we don't always need to import from China or Taiwan our computers or solar panels. To do that here, we need more professionals," he added. - ANC