This presentation proposes that BPO andother ICT development have a potential to be a majorcatalysts for economic growth and socio-economictransformation. It claims that IT-BPO sectors developmentrepresents major promises that potentially can transform thePhilippine economy and also foster inclusive growth. Thepresentation postulates that the importance of IT-BPOindustry development goes beyond the debate of pickingindustry winners. It argues that the BPO industry is poisedto have a substantive impact on the country and thatespecially so if there simultaneously is major growth inother ICT sectors and the scale and scope local usage ofICTs. It claims that expanded scale and scope of BPOindustry in conjunction with further development of ITservices, Telecom and other ICTs industries coupled with theadvancement in education, science & technology can beprincipal factors that can transform the Philippine economyand its interface with the rest of the world.