Singapore invests US$ 330 million to gaming, plans to explore further

Posted Sep 6, 2007 at 4:53PM EST by QJ Staff

Listed in: Tags: Asia, Australia, Games Convention Asia, Japan, Korea, Singapore

During the first ever Games Convention Asia Conference (GC Asia Conference) held in Singapore, many countries proved how the industry is also strong in Asia outside Japan. Singapore, known as a big market for MMORPGs, even took a step forward to announce that they're ready to become a games industry center of excellence.

Minister for community development, Vivian Balakrishnan, revealed that around US$ 330 million (SG$ 500 million) of government funds went to research and development in the digital interactive sector.

A student exchange program called "GAMBIT" is also under way for Singapore and the Massachusetts Institute of Technology to share their expertise.

Other parts of South East Asia expressed interest in the industry. A memorandum that "signifies the recognition of each other as ideal counterparts for future collaboration and co-operation in this region for the benefit of the games industry" was signed by ten Asian game developers associations from various countries like Japan, Korea, Australia, Thailand and Vietnam.

The Asia-Pacific is expected to contribute 40% of gaming industry's US$ 39.8 billion annual revenue by the end of 2008, and Singapore wants a piece of the cake. "Singapore intends to be part of the action," said Balakrishnan.

Via Games Industry

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Singapore invests US$ 330 million to gaming, plans to explore further

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