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This week, know more on the state of economy and IT business sectors of the Philippines.

The Philippines is Strong, WB and IMF.

According to two international financial bodies, both the Philippines’ financial system and economy appear resilient to macroeconomic risks, due to the dominating strength of local banks.

World Bank notes that for 2009, the Philippines recorded a 0.9 percent positive growth and predicts that the gross domestic product (GDP) growth this 2010 to reach 3.5 percent and accelerate moderately to 3.8 percent in 2011.

Know why this is so here

Similarly, the International Monetary Fund finds the 10 largest banks in the country to be resilient to a wide range of credit, market and liquidity risks.

Learn more of this here

BPO Sector to recover growth

According to the country’s Commission on Information Communications Technology (CICT), the Philippines’ Business Process Outsourcing (BPO) sector will reach its usual growth rate of 25 to 30 percent this year after posting ‘lower’ 20 percent growth rate in 2009.

The CICT is set to have 35 more cities, outside Metro Manila and Cebu, transform into golbally-competitive ICT service hubs.

“We did experience a slowdown but not as bad as the other industries. It’s up to us to be more aggressive so that we are in the position for recovery. We have to push Personal Computer (PC) literacy so that more of our workforce will become computer-literate.”

Ray Anthony Roxas Chua III, Secretary of Commission on Information Communications Technology (CICT).

Read more here

Davao to take advantage of US Healthcare Law

Davao City’s medical transcription sector finds opportunity in the United States’ recently-approved healthcare law.

More work and careers opportunities in medical transcription as slots in medical coding and health insurance processing will open up as the US pursues its program for uninsured Americans who were not able to get coverage because of health conditions. Not just mere data entry, medical transcription workers can rise in the value services chain.

Learn more about this developing opportunity here

Telecom giant supports Philippine enterprise via ICT

This 2010, Philippines’ premier telecommunications services provider GLOBE starts more programs and new projects to the development of Filipino entrepreneurship, using information communications technology (ICT).

Through Globe’s corporate social responsibility arm “Globe Bridging Communities (Globe BridgeCom)”, trainings on product development and design, an entrepreneurship forum for select youth leaders utilizing information and communications technology (ICT) are going to be introduced. Globe BridgeCom also offers grants and opportunities for market linkages to chosen community enterprises.

Learn more about the GlobeBridgeCom program here


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