Top US firm boosts RP high-tech capability

Iemagine.com, a leading US provider of rental applications (ASP) disclosed yesterday plans to help the Philippines boost its technological capability to compete with the rest of the world.

The announcement came on the heels of a report by the American Electronics Association (AEA) that the Philippines has become the fastest growing market in the world for US high-tech exports.

The AEA said "US imports from the Philippines grew at an accelerated rate of $7.9 billion in 1999, more than half of which came in the form of semiconductors."

The report also disclosed "a 17-fold increase in imports of computers from the Philippines recorded by the US between 1993 and 1999."

Following the strong upswing in two-way high-tech trade between the two countries, Bob Curry, Iemagine.com co-founder and director of technology, said: "Iemagine hopes to be able to help shift to high gear the Philippines' growing e-business with the planned introduction in Metro Manila of Iemagine's services."

Iemagine.com is well-known in the US for developing the largest and most advanced suite of rental applications that provide significant value to e-business applications offered at a fraction of the cost.

According to Curry, Iemagine's range of application services fit well into Philippine requirements such as rent and ready online applications, including sales and marketing, customer service, channel management and workplace safety solutions.

The planned entry of Iemagine.com into the Philippines comes at a time when the so-called e-commerce (electronic commerce) has picked up in volume and speed over the past 24 months.

Curry said the Philippines cannot afford to be left behind in the new global economy. The government should come to grips with the challenge posed by global e-business, he said.

In terms of technological infrastructure, for instance, Curry said the Philippines still has a lot of catching up to do.

Japan and Singapore account for third and second place respectively as the world's leading location for US high-tech investments, recording $5.6 billion and $7.5 billion in cumulative manufacturing facilities. The United Kingdom ranks as the largest ($12 billion) host of US high-tech investments in the world.

The US report identifies several barriers that transition countries like the Philippines must bring down if these were to effectively compete with the likes of Singapore and Japan in generating foreign high-tech investments like e-business.

The survey cited these barriers as lack of supportive climate for entrepreneurial projects, highly-regulated economies, rigid labor practices and limited venture capital.

The planned expansion of Iemagine into the Philippines, according to Curry, is premised on meeting the challenges that new markets such as the Philippines offer.