Philippines cited world's top outsourcing center for 3rd time
Tacloban City (November 2 2010) -- The report that the Philippines, for the third time, was acclaimed as the world’s top outsourcing center when it was awarded the Offshore Destination of the Year Award for 2010, is indeed heartwarming and inspiring.
Winning a NOA Award is a huge accolade because as posted at the NOAA webpage, a previous winner said that "NOA sets the benchmark for the best practice in outsourcing."
The honor was given during the National Outsourcing Association (NOA) Awards Night, held at the Park Plaza Riverbank Hotel in London last week.
The country first bagged the coveted title in 2007. The Philippines also beat other countries in the same category last year, making this year a back-to-back win.
NOA disclosed that with the abundant graduate workforce, the Philippines is becoming a veritable offshore giant for the UK Business Process Outsourcing (BPO) market.
The NOA, in particular, gave full importance and recognition to the country's 92 percent literary rate, 36- million labor force with 450,000 university level graduates per year – about 100,00 of them finance and accounting graduates – and the ability to understand and speak English with a neutral and understandable accent.
The country's world-class telecommunications infrastructure and unparalleled government support in the form of income tax holidays of up to six years, and other fiscal and non-fiscal incentives, also boosted the country's chances in bagging the title.
Moreover, the board of judges gave due importance to the flat 5 percent income tax rate on gross income for locators of office buildings and installations accredited as Philippine information technology (IT) economic zones, after the initial 4-6 years of income tax holiday has passed.
The NOA has been operating for over 20 years and is the only well-established and recognized outsourcing trade association in the United Kingdom.
It is also one of the founding bodies of and prime movers of the European Outsourcing Association.
The NOA Awards are held every year to give recognition to best practices in the UK outsourcing industry. This year, there were 17 categories in contention.
Other nominees in the category won by the Philippines included Egypt, Sri Lanka, and Ukraine.
Receiving the award on behalf of the Philippine outsourcing industry and the Department of Trade and Industry (DTI) were Commercial Attaché Michael Alfred V. Ignacio and Trade of Investment Representative Vicente A. Casim of the Philippine Trade and Investment Center in London. (PIA
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