PricewaterhouseCoopers' (PwC) planned Global Acceleration Center project in the Philippines is set to generate at least 5,000 new jobs and usher the growth of the business process outsourcing (BPO) and tech sectors, the Department of Trade and Industry (DTI) said.

The project will focus on high-value BPO sectors, including artificial intelligence (AI), cloud computing, and cybersecurity.

It is expected to generate thousands of new jobs within three to four years and underscore the country's growing role as a prime destination for BPO operations, the DTI said.

"We are deeply grateful for PwC's decision to launch this new project in the Philippines and their continuing confidence in our country as a global BPO partner," Trade Secretary Alfredo Pascual said in a statement.

The meeting with PwC was one of the engagements of the Trade chief during the US-Japan-Philippines trilateral meeting in the United States on April 12, 2024. He also extended an invitation for PwC to collaborate with the DTI for the National Innovation Hub.

In line with the new project, Isla Lipana & Co., the Philippine member firm of the PwC network, also anticipates hiring an extra 1,000 to 2,000 workers to meet the project's manpower requirements. The department said this could result in around P2 billion additional annual revenue for the Philippine government.

Pascual recognized the important role of the information technology and business process management (IT-BPM) sector for the Philippines, aligning with the Technology, Media and Telecommunications Cluster identified in DTI's Science, Technology and Innovation industrial strategy.

"The DTI recognizes the transformative potential of AI for the Philippine economy. Hence, we strongly advocate for building AI capabilities to meet the evolving needs of businesses, such as PwC's Global Acceleration Center," he said.

Pascual emphasized the importance of PwC in supporting the government's initiatives to enhance Filipino skills through workforce development programs. In turn, he reassured PwC of the steadfast support from DTI and its agencies to foster the company's business expansion in the Philippines.