The IT-Business Process Association of the Philippines and the Semiconductor and Electronics Industry of the Philippine Inc. signed a memorandum of agreement to underscore the positive impact of their respective sectors in driving economic progress, fostering innovation and promoting environmental, social and governance initiatives in the country.
Outlined in the MOA are five key areas of cooperation to help accelerate the growth of both industries in the Philippines. On the Ease of Doing Business, both groups intend to create a more business-friendly environment through consistent engagement with the national and local governments and by advocating for policy reforms that simplify and streamline business processes for investors.
Both groups aim to pool in efforts to attract and retain investors through comprehensive marketing and communication strategies, which enhance job opportunities, as well as leverage new technologies like artificial intelligence to improve the inventory of practices of both industries, encourage knowledge sharing and implement projects to promote the use of other emerging tools.