Anthem Inc., one of the largest health insurance providers in the United States, plans to expand its business process management operations and set up pharmaceutical research in the Philippines, the Department of Trade and Industry said over the weekend.
Trade Secretary Ramon Lopez met with the top executives of Anthem during a recent meeting in Washington, D.C.
Anthem diversified business group chief operating officer Rajat Puri said the company is optimistic about the business environment in the country and the Philippines as an investment destination given its adherence to diversity, inclusion and equity.
The firm recognized the strong potential of the Philippines with its base of highly-qualified nursing talent particularly in Iloilo City, where Anthem plans to expand services. The company has offices in Fort Bonifacio and Iloilo with a combined workforce of over 8,000.
Lopez highlighted the Philippines’ advantages as an IT-BPM investment destination, citing the reforms and other measures undertaken by the government to entice more foreign investors in various industries.
“With the Duterte administration’s continued push for major economic reforms, supplemented by the country’s sound policies and systems in place, we are beginning to see increasing interest in many new sectors such as those related to telecommunications, broadband, interconnectivity, satellite services and other digital infrastructure such as data centers for hyperscalers and the corresponding renewable energy projects that are expected to serve as the source of power for these projects,” Lopez said.
Lopez noted the growing US investments in the country, specifically in green metals mineral processing, renewable energy storage systems and other digital infrastructure.
Trade Undersecretary Ceferino Rodolfo, who also attended the meeting, presented the incentives that await investors such as Anthem once it registers with BOI under Tier 1 of the Strategic Services or Export Services in the 2020 Investment Priorities Plan.
Rodolfo cited the recent approval of a large-scale telecommunication infrastructure project worth P155-billion.
Lopez underscored the contribution of infrastructure developments in the countryside, spurring economic activities and more opportunities in rural economy.
Anthem Inc. is one of the largest health insurance companies in the United States, with over 98,000 employees and about 40 million members.
Anthem started its BPM operations in the Philippines in November 2018 with an investment of P950 million and about 1,000 employees in its global in-house center under Legato Health Technologies Philippines Inc.
