(Reuters file photo)MANILA -- The Philippines’ $23 billion outsourcing empire is facing mounting risks: China is rising quickly as a competitor, the government wants to cut some incentives and a siege in the south of the country is worrying investors. “We need to put our act together,” Rey Untal, head of the Philippine association of outsourcing companies, said in an interview in Manila. “The other countries know how big this IT business process outsourcing pie is globally and they want to increase their share. Million Philippine JobsThe IT Business Process Association of the Philippines is aiming for $39 billion of revenue by 2022. “Business process outsourcing is very important for dollar supply, especially now that the country might slip into a current-account deficit,” said Michael Enriquez, chief investment officer at Sun Life of Canada Philippines Inc. in Manila.

Source: Bangkok Post August 01, 2017 04:52 UTC