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THE local information and communications technology (ICT) industry is expected to grow by 9.5 per cent this year as key vertical industries continue to place emphasis on technology and the Internet to stay competitive.
According to research firm International Data Corp (IDC), ICT spending will reach US$2.16 billion (RM8.2 billion) this year, compared to the US$1.97 billion (RM7.5 billion) estimated figure for last year. In its latest survey findings, the company projected a compounded annual growth rate (CAGR) of 14.4 per cent for 2000 to 2005, where the value of ICT spending is expected to reach US$3.8 billion (RM14 billion) in 2005.
The industry can expect …