MANILA - Business process outsourcing in the Philippines is showing no signs of slowing down as companies retool their workforce to meet changing demand and expand their operations, a property developer said Monday.
In 2018, Megaworld secured one of the largest real estate deals in the country, a 25-story office tower in Taguig for JPMorgan Chase Bank’s global service center, said Megaworld chief strategy officer Kevin Tan.
"We don't see signs of slowing down, because BPOs are also transforming, reinventing themselves, all the services have also changed from traditional voice, they're now retooling a lot of employees, to take on more higher grade functions, or jobs," Tan said.
"If you talk to our American, foreign BPO clients, we ask them for indicators, they're still looking to outsource a lot of these functions to Philippines, some say they're even going to increase exposure in Philippines vs other Asian neighbors," he said.
Megaworld, owned by billionaire Andrew Tan, has "very limited exposure" to Philippine offshore gaming operations (POGOs), accounting for 15 percent of its total portfolio, said the younger Tan, the tycoon's son.
"We are still very much focused on BPOs, when we build-- we build separate. We're very careful. These are 2 different kinds of buildings, normally we don't put them together, we zone it differently," he said.
Megaworld is celebrating its 25th listing anniversary on the Philippine Stock Exchange on Monday.
-- with a report from Michelle Ong, ABS-CBN News