DTI sees 50% growth in ICT investments

The Department of Trade and Industry (DTI) is projecting a 50 percent growth in investments in the information and communications technology (ICT) sector to P17 billion this year based on the 2005 investment figure of P12.11 billion.

According to Celeste Ilagan, Trade and Industry executive director for international marketing, the projected growth in the ICT sector this year is expected to come from at least seven pipeline investments by seven American firms.

Last year, Ilagan said, a total of P12.11 billion was invested in the ICT sector by 70 projects approved by the Board of Investments (BOI), the Philippine Export Zone Authority (PEZA) and various other ecozones in the country.

The biggest single investment last year of $3 million was made by Dell Inc., although in terms of number of seats, Convergys created 6,000 seats.

In terms of export revenues, Ilagan said, the ICT sector generated $2.266 billion last year.

The Philippines is positioning itself to become a global center for information technology (IT) and IT-enabled services.

The Philippines is relying on the quality of Filipino ICT workers, a competitive infrastructure, the Filipinos’cultural affinity with the West and continued government support.

In 2004, ICT investments amounted to P8.07 billion, resulting in more than $1 billion in exports revenues.