Philippines aims to be health...

ecosystem and pursue regional development through innovation and entrepreneurship.

Aldaba said economic forecasts predict that the Philippines will become a 1 trillion economy by 2034, joining the ranks of China, Japan, Korea, Australia, Taiwan, and Indonesia. She highlighted the economic performance of the country, which expanded by 7.6% in 2022. The country’s economic performance has been posting a growth rate of over 6% in the last 10 years before the pandemic.

The undersecretary also focused on the potential for investment in HIMS in the Philippines.

The country aims to become the HIMS destination hub for the Asia Pacific region, with the adoption of automation, new technologies, and highly skilled workers. The country’s capabilities in HIM, combined with a favorable investment climate and government support, make it an attractive destination for investors.

“Our vision is to make the Philippines the Health Information Management destination hub for Asia Pacific,” Aldaba shared. “We aim to grow globally competitive and innovative industries and build a more dynamic industry ecosystem through our new science, technology, and innovationdriven industrial strategy.”

Ready for Global Challenges

Jack Madrid, president and chief executive officer of the IT and Business

Process Association of the Philippines (IBPAP) presented the success of the industry in the Philippines. He said that the country is a preferred destination for global business partners due to its resilience and the ability to generate a significant number of jobs for the economy.

The industry has shown impressive growth in both headcount and revenue, with 70% of its business coming from North America.

The United States continues to be the largest market for the IT-BPM sector, according to Madrid.

The industry has grown to 1.6 million Filipino employees in the country over two decades ago and hopes to add 1.1 million more in just six years or by the end of 2028, based stated in its roadmap. “Our industry has shown much resilience through the past decade, regardless of global recessions, natural disasters, and even a most unexpected pandemic,” Madrid said. “The bedrock of the growth of this industry has been the Filipino