Russian IT Market May Increase With State's Support

Russia's information and communication technologies (ICT) market may reach $40bn by 2010, Leonid Reyman, Russian Information Technology and Communications Minister, said at the Russian Chamber of Commerce and Industry Presidium meeting. Software exports may total $10bn, he claims. These rates are possible to achieve if the government supports the industry. However, it would be better to support the industry not through direct investment, but through literate tax policy and establishment of industrial parks, Reyman said.

The minister noted that ICT's contribution to the GDP growth might reach 0.5 percent. The ICT sector may become one of the most important economy engines and make it possible for the GDP to double. He also noted that business could support innovative economy development. Large foreign companies have opened offices in Russia in the past several years. Companies present on the Russian market have increased their share, he said.

Also, the Ministry and the Chamber of Commerce and Industry have signed an agreement on industrial park development.