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Singapore information industry booming in 2006
POSTED: 2:40 p.m. EDT, January 18,2007

The Singapore government Thursday announced its information-communication (infocomm) industry revenue in 2006 will register an estimated growth of 6 percent, hitting 40 billion Singapore dollars (about 26 billion U. S. dollars) for the first time.

At a business outlook forum for the infocomm industry, Second Minister for Information, Communications and the Arts Vivian Balakrishnan said the Singapore infocomm industry is well poised to tap into growing opportunities in the Digital Age.

He said he believe the city-state's infocomm industry is set for further growth and to make its mark on the international scene.

Citing a latest household survey by Infocomm Development Authority (IDA), he said the profile of Singapore consumers has also been evolving.

The survey found that 77 percent of households in Singapore have at least one computer and 70 percent have Internet access.

It also reported that nearly 9 in every 10 households with school-going children have at least one computer at home.

Online services such as instant messaging, sending emails and retrieving information were the more popular applications among Internet users aged 15 to 59.

Online shopping in Singapore is also on the rise as about a third of these users made online purchases last year, according to the survey.

Another statistics showed that worldwide end-users spent 1.16 trillion U.S. dollars on information technology in 2006 and such IT spending will increase at a compound growth rate of 6.3 percent to reach 1.48 trillion U.S. dollars by 2010.

"The Singapore infocomm industry must seize the opportunities from this positive global IT business outlook," said the minister.

The key to going global is to build intellectual property and develop the Singapore Infocomm brand, Balakrishnan said.

To help local companies develop intellectual property for domestic and overseas markets, the government will implement the Infocomm Enterprise Program, the minister announced.

Furthermore, aiming at promoting international awareness of Singapore-owned technology brands, the government agencies have embarked on an exercise to develop and market Singapore Infocomm Brand.

Balakrishnan noted that the exercise will elevate the perceived value of Singapore's infocomm products and services both locally and internationally, as well as generate stronger recognition of the quality and uniqueness of Singapore's infocomm products and services.


From:Xinhua
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