MANILA, Philippines - More investments in the business process outsourcing (BPO) industry are expected from German firms as the global financial crisis has forced them to look for ways to cut costs, the German Philippine Chamber of Commerce and Industry (GPCCI) said yesterday.
In an interview, GPCCI past president Franz Roland Odenthal said that there will be more investments in the local BPO sector even if investments in Germany are down.
Odenthal said there are many inquiries from German companies especially since the market condition has improved and market information is better.
In fact, a 600-seat call center just opened in Eastwood City. German firm Bertelsmann-Arvata started operating its BPO facility in February.
Odenthal said the firm is very happy with the business situation in the Philippines because of the very quick set-up. The company decided to invest in August and it opened its doors only six months after.
Odenthal said the Philippines remained an attractive investment destination for German firms especially in the mining, maritime and service sector.
“There have been a number of big ticket investments in the past 12 months and we expect more to come in specifically in the call center and back office operations,” Odenthal said in an earlier interview.
According to Odenthal, German businesses are not worried about the perceived political noise and the tension in the southern part of the country.
“I can say German companies feel safe in their investments in the Philippines especially if they go into the PEZA (Philippine Economic Zone Authority) zone,” Odenthal noted.
According to him, Germany is the sixth largest investor in the Philippines and he sees the trend continuing.
“There is really a good perspective over-all,” Odenthal said.