The Philippines’ Information Technology and Business Process Outsourcing (IT-BPO) industry got a major boost with President Benigno S. Aquino III’s approval of a P500-million training fund to be administered by the Technical Education and Skills Development Authority (TESDA).
This was announced over the weekend by industry executives and the consultant who led the development of the Philippines IT-BPO Road Map 2011-2016.
The funding will provide short-term training for “near-hire” applicants who have the right qualifications but need more training to improve their skills.
“Ensuring a qualified labor supply is the number one task for the industry,” said Everest Group managing consultant for India Gaurav Gupta.
The funding approved by the President will provide remedial training for the voice, software development, animation, game development, and health care services sectors.
President Aquino announced his approval of the special training fund during the 3rd International Outsourcing Summit (IOS) on October 11-12 at the Sofitel Philippine Plaza in Pasay City.
Following the Summit, the Business Processing Association of the Philippines (BPAP) and TESDA signed a Memorandum of Agreement (MOA) to initiate the P500 million expansion of the IT-BPO Industry-Based Training for Work Scholarship Program (I-TWSP), which has already proven to be successful in helping industry applicants quickly acquire the skills required to qualify for high-paying jobs.