'There is room for everybody and I believe there are differences in the kind of services we offer compared to IBM or, say, Infosys of India. We are focused on the high-end part of the (outsourcing) business,' Vermeulen said.

Dr. Klaus Wucherer, a member of the corporate executive committee of Siemens AG, said the Philippines produces some 80,000 IT engineers every year, which is a lot more than most countries in the region.

'The Philippines is in a much better position economically than ten years ago,' said Wucherer, who is currently conducting visits in selected countries including the Philippines, India, and China.

Vermeulen added, 'The skill sets are there but we need to push IT more.'