At the recent SiTF 2007 ICT Business Outlook Forum, Mr Chan Yeng Kit, Chief Executive Officer of the Infocomm Development Authority of Singapore (IDA) said that the outlook for 2007 looks positive for Singapore's infocomm companies.

Mr Chan Yeng Kit, Chief Executive Officer of the IDA shared that the outlook for 2007 looks positive for Singapore's infocomm industry

According to Mr Chan, initiatives started in 2006 will help bring about even more growth in the infocomm market. Initiatives like Wireless@SG, and the Next Generation Network under the iN2015 Masterplan will continue to help Singapore's infocomm industry grow.

Quoting figures from research firm IDC, Mr Chan said that, while the local market is expected to grow at a rate of 4.8% to US$4.7 billion, the Asia Pacific market is expected to grow at a rate of 6.5% to US$239 billion. As such, infocomm companies would do well not just to leverage on the local market but also to look overseas for further growth.

The Singapore Government and IDA are launching more schemes to help infocomm companies establish themselves locally and globally

As industry development is one of the key focus areas of the iN2015 (Singapore's 10-year Infocomm Masterplan), the Singapore Government and IDA are launching more schemes to help infocomm companies establish themselves locally and globally.

To help infocomm companies gain inroads to overseas markets, IDA will continue to help these companies in strengthening their capabilities to grow and expand to new markets and capitalise on opportunities in the international front.

An example is the Infocomm Enterprise Programme (iEP) which aims to develop the capabilities of infocomm companies in the implementation and delivery of large-scale, sector-wide projects and to create new intellectual property (IP). The IDA will help co-fund approved projects to help infocomm companies build up their capabilities in implementation of large-scale projects and enhance their credentials and export potential.

According to Mr Chan, initiatives started back in 2006 will continue to help Singapore’s infocomm industry grow

Another initiative is Infocomm Singapore , a unified brand for 'made-by-Singapore' infocomm products and solutions along with the Infocomm Singapore Portal. This branding initiative is a joint effort between the Singapore Government and the infocomm industry to help infocomm enterprises garner more mindshare in the global marketplace, elevating the perceived value of Singapore's infocomm products and services both locally and overseas.

Mr Chan added that, with the infocomm sector projected to build on its growth from 2006, the IDA will continue to lead the infocomm sector to new heights, and work closely with infocomm companies grow and prosper in the knowledge economy.