Tuesday, March 5, 2024

PH unit of SG-based gambling software maker gets BOI approval

The Board of Investments (BOI) recently approved the application for registration of Definite Gaming Philippines as a new services export provider under the current Investment Priorities Plan (IPP).

definite gaming

Classified as a micro enterprise, the P2.75-million project in Mandaluyong City is a startup mobile gambling development and publishing company providing software development services for its Singapore-based mother firm Definite Gaming PTE Ltd.

The company started its business operations in February 2017 and is currently employing 20 personnel.

Department of Trade and Industry (DTI) undersecretary for investment promotion Nora Terrado said the investment project reaffirms the Philippines as a game development hub of choice in the Asian region and highlights the capabilities and competitive edge of local game development industry players in meeting the stringent and highly technical skill requirements of international companies.

?Our people is one of the most globally competitive game programmers in the Asian region and they are more than capable of developing a wide variety of games — be it in mobile, desktop, console, or the Web,? said Terrado.

She said many international game development firms are already taking advantage by tapping the country?s local talent pool, including the potentials of around 100,000 annual graduates in the field of information technology and engineering.

Last year, French international game developer Ubisoft announced the opening of its Philippine production studio. Ubisoft is a leading creator, publisher, and distributor of interactive entertainment and services, with a rich portfolio of world-renowned brands like Assassin?s Creed, Just Dance, Tom Clancy?s video game series, Rayman, Far Cry, and Watch Dogs.

?The investment of Ubisoft and promotion of game development investments is in line with the strategic initiatives outlined in the game development industry roadmap which aims to increase awareness on the Philippines as a viable investment location for international game development companies, as well as their game-related services and offshore studios,? said DTI undersecretary and BOI managing head Ceferino Rodolfo.

The government?s Video Game Industry Roadmap 2016-2022 projects the industry to employ over 4,000 local workers with revenues reaching over $50 million by 2022. Last year, the industry posted an estimated $24 million in revenues with over 2,000 in employment.

The country has been a preferred provider of game management support to international production outfits worldwide and for casual games for social networking sites. The growth of the local industry continues and the market share and range of services are expanding as homegrown firms embrace global video game industry opportunities.

The BOI included creative industries where the sub-sector game development falls under, in the 2017 Investments Priorities Plan (IPP) recently approved by Pres. Rodrigo Duterte. The IPP is a list of priority investment activities that may be given incentives.

BOI also developed the ?GameDev Philippines? branding which highlights public-private sector partnership to support the country?s thrust to be a hub for international quality standard video game content.

Last year, the BOI jointly with the Philippine Trade and Investment Center in Berlin and the Games Development Association of the Philippines facilitated participation of local games-related services and products firms at GAMESCOM 2016 in Cologne, Germany where local companies Altitude Games, GameOps, Job and Esther Technologies, Synergy88 Digital, Transcom, and Zeenoh showcased their competitive advantage to the European games industry market which is estimated at around $18.4 billion.


- Advertisement -spot_img



- Advertisement -spot_img