Palace confident Obama win will not hurt BPOs
MANILA, Philippines - The re-election of US President Barack Obama has renewed worries the US Congress may finally approve a bill that would affect the business process outsourcing industry in the Philippines.
Under the Bring Jobs Home Act, a 20% tax break will be given to US companies that will move jobs back to the US. The bill was among Congress' "to-do list" that Obama unveiled earlier this year, but it failed to pass.
But the Palace is confident that even if the bill is passed, the BPO industry will still flourish.
"Our skills and excellence speaks for itself
and any business will make a decision based on its bottomline. If you have good relations with the country determine what its policies are, pwede namang pag-usapan yun ganun. If the US feels its important to be on good terms with the Philippines, it's not gonna start killing jobs here," Undersecretary Manuel Quezon II told ANC's Headstart.
The BPO industry currently employs almost 500,000 Filipinos. - ANC