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ICT may chip in as much as $50B to Philippine economy

The information and communications technology (ICT) industry is expected to contribute as much as $50 billion in direct revenue to the Philippine economy by 2016, a recent projection by administration officials said.

The booming business process outsourcing (BPO) sector is seen to take the lead, contributing half the amount in four years. Other areas such as telecommunications, computer manufacturing, and other technology-related services are also expected to continue growing.

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“The government is highly supportive of the industry and is looking at investing significantly in programs, policy development, marketing, research and talent development,” Department of Science and Technology’s (DoST) ICT Office (ICTO) said in a statement.

“With government support behind the ICT industry, the upside for the country is tremendous,” said Alejandro Melchor III, ICTO deputy executive director.

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During the recent Industry Stakeholders Consultation Workshop hosted by the government, Melchor said that, apart from direct revenues, ICT could also enable other industries, such as real estate, banking and even the state’s own tax efforts, to contribute as much as $150 billion in indirect investments.

Melchor said various ICT industry groups participated in the workshop, including the Computer Manufacturers, Distributors and Dealers Association of the Philippines, Contact Center Association of the Philippines, and the Business Processing Association of the Philippines.

“We are grateful for the encouragement and support the government is providing the industry. Collaborating with other industry associations in this forum has given us a renewed perspective that the industry is unified in achieving new heights in revenue and overall support of the economy,” BPAP president Benedict Hernandez said.

Aside from planning the next steps to take in meet industry targets, Hernandez said private sector participants had also helped in mapping out the Philippine Digital Strategy.

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TAGS: economy, information and communications technology, Philippines
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