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PH ICT Industry to reach $50 Billion by 2016

by: Sarah Joson

Tuesday, May 14, 2013 | Outsourcing News |

Even with the continuous rise of the peso, the Aquino government remains positive that the local information and communication technology (ICT) sector will be able to achieve $50 billion in revenues by 2016.

ICT sector to deliver $25B by 2016


According to the deputy executive director of the Department of Science and Technology-Information and Communication Technology Office (DOST-ICTO), Monchito Ibrahim, the government has furnished the requirements needed by the ICT sector. He estimated that the information technology and business process outsourcing (IT-BPO) segment will contribute $25 billion and other ICT-sectors such as animation will deliver $25 billion by 2016.

Moreover, Ibrahim pointed out that the reliable and abundant transmission networks and cable landing stations provided by key telecommunications companies such as the Philippine Long Distance Telephone Co. (PLDT) and Ayala-led Globe Telecom Inc. are key factors for the sector’s growth.

Other influencers identified by Ibrahim are the special five-percent tax on gross income, other tax and duties exemptions, four to eight years income  tax holiday, sales grants amounting to 30 percent of total sales and discounts on training costs.

Meanwhile, DOST noted that Metro Manila isn’t the only hub equipped for IT-BPO operations as Cebu and Davao have similar infrastructure as well.


Source:
http://www.abs-cbnnews.com/

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