The world’s businesses and economy are plugging in to Asia and its emerging economies as a prime source of potential to recover from the persistent effects of the global financial crisis.


A World Leader’s Call

On his way to take part in the Asia-Pacific Economic Cooperation (APEC) in Singapore, US President Barack Obama declared during in his state visit in Tokyo, Japan the great role Asia plays in the global economic recovery. He calls on to nations in Asia to strengthen economic efforts for growth that is both sustained and balanced.

“We simply cannot return to the same cycles of boom and bust that led us into a global recession. We cannot follow the same policies that led to such imbalanced growth.”

Barack Obama, US President, Major foreign policy speech in Tokyo, 2nd day of four-nation Asian tour

Businesses follow

As if following or perhaps a step ahead of Obama’s lead, business leaders tap on Asia’s great potential to boost business productivity.

Business process outsourcing leader in customer relations services, Convergys states its near-term goal to expand operations in the Philippines. The company plans to add 4,500 more employees from the Philippines’ talent pool to its payroll in the next 4 to 5 years.

“Filipino agents continue to deliver superior relationship management services on behalf of our clients and that’s why there’s a global demand for their expertise.”

Marife Zamora, Convergys vice president and country manager.

Industry player in development/manufacture of laser printers, multi-function printers and fax machines, Brother International,  improves its presence in Southeast Asia to increase sales.

The company cites the huge potential within the region’s emerging information technology industry, especially in the Philippines.

The company has already opened sales offices in Taiwan, Indonesia and Vietnam, while its Philippine subsidiary opened sub-centers in the country.

Global financial services firm JPMorgan Chase & Co. plans to open a new, 1600-seat facility in Cebu, Philippines by March 2010.  The E Bloc Tower in Cebu’s Asiatown IT Park  will be home to JPMorgan Chase’s  Card Services business.

“Since our Global Service Center began operations in late 2005, we have consistently delivered the firm’s mission of ‘doing first-class business in a first-class way.’

Our Philippine-based operations have received much acclaim from the firm’s global offices and clients largely because of the professionalism and skill of the Filipino workforce. We are very excited to be leveraging the Cebu market to support our global operations.”

Barry E. Marshall, senior country operations officer, JPMorgan Chase & Co

IT ‘key’ to Asia’s Door of Recovery

Information Technology (IT) remains to be the bright spot in Asia’s emerging markets, an essential key to recovering from the economic financial crisis.

An International Data Corporation (IDC) study released in January 2009 reports that IT spending would reach 6.3 percent growth this year. This ‘modest’ forecast is because to the relatively lower IT infrastructure penetration in the Asian region however the Philippines remains to be a huge market for IT infrastructure services.

Springboard Research also notes in a study that public sector IT expenditures (those implemented by government agencies)  can reach USD580 million by 2011.

According to Springboard Research Vice President for Software and Asia Pacific Research, Michael Barnes,  this trend will most likely continue to increase despite the failure of previous IT projects, such as the 2004 poll automation and the controversial ZTE-National Broadband Network of the Philippines.

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  1. Cudis, Nancy. “Brother International expands presence in Southeast Asia.” 16 November 2009. The Sun Star Cebu. Accessed 17 November 2009. Link Here
  2. Villafania, Alexander. “IT still a bright spot for economic recovery.” 14 November 2009. The Philippine Daily Inquirer. Accessed 16 November 2009. Link Here
  3. “Call center eyes 4,500 more workers in RP.” 17 November 2009. The Philippine Daily Inquirer. Accessed 17 November 2009. Link Here
  4. “JPMorgan Chase & Co. to open card services facility in Cebu.” 16 November 2009. The Sun Star Cebu. Accessed 17 November 2009. Link Here
  5. “Obama calls on Asia for ‘balanced’ economic growth.” 14 November 2009. The Philippine Daily Inquirer. Accessed 16 November 2009. Link Here


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