Canadian information technology-business process management (IT-BPM) companies have pledged approximately P8 billion in new and expansion investments for the Philippines' digital economy, the Department of Trade and Industry (DTI) announced. The figure was reported by BusinessWorld on Wednesday.
The DTI said the total includes commitments from multiple Canadian firms covering both fresh capital and expansion of existing operations in the country's IT-BPM and digital-services sectors. The pledges are expected to boost the Philippines' position as a regional hub for digital services and create thousands of jobs.
The investment pledges come amid ongoing efforts by the Philippine government to attract more foreign direct investment in technology-enabled industries. The DTI did not disclose the names of the specific companies involved but noted that the commitments span various digital economy subsectors including software development, customer experience services, and AI-driven solutions.