Russian IT Sector to Rise to $40Bln

The telecommunications and information technology industry will grow to exceed $40 billion a year by 2010, IT and Communications Minister Leonid Reiman said on Monday at a news conference held in Moscow.

The total market was reported to have reached about 1 trillion rubles ($35.5 billion) last year. Reiman spoke positively on this trend.

Our task is to double gross domestic product by 2010 and we expect that the share of information technologies and telecommunications industry in the economy will rise about 0.5 percent a year, compared with 0.6 percent growth in the share of mineral resources production in the country’s GDP.

Source: Moscow News

Nick Wilsdon

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