As part of expansion plans, Investment bank Morgan Stanley is evaluating plans to outsource information technology (IT) to Philippines.
Without giving specific figures, Philippines Trade Secretary Peter Favila said Gari Guglielmi, Morgan Stanley's vice president, had paid him a courtesy call regarding a multimillion-dollar expansion on IT outsourcing in the Philippines.
However, because of concern over the lack of personnel in business process outsourcing (BPO), Favila said he talked with the BPO associations to work with the government in honing new hires.
"BPO is new in the Philippines, and it has to do something to catch up with other countries that have been providing services in this area in the past few years," he said. Favila also noted that the government is now encouraging civil servants to shift to BPO because they have the knowledge and skills necessary to work in this area.
"The government is looking at enhancing the competitiveness of our workers because of the big demand. With BPO associations' good inputs, the government would be supportive of their initiatives. The only obvious problem is the lack of qualified workers," Favila said.
"We want the BPO associations to go to specialized areas such as para-legal service and research since high-value chain is the emerging trend," he added.
He noted that the demand in special services is huge that it is expected to surpass the call center industry. "Knowledge process outsourcing has a very huge potential and could even outperform call center services," he said.
Another area is animation, which is also a fast-growing industry, he said.