bullish about growth
Sets up Sri Lanka office, keen on policy initiatives
Intel Corporation, the world's top semi-conductor manufacturer formally
announced the opening of a local office last week with expectations
of bullish growth in the long-term.
local office will be targeting a compound annual growth rate (CAGR)
of over 25% in the next five years, while strengthening its distribution
and working with government on policy issues and education.
government interaction specifically would be focused at a policy
and solutions perspective, according to G.B.Kumar, Director (Sales)
- South Asia. Discussions on policy would include the lowering of
taxes. "By maintaining high taxes the government is taxing
its future. It also creates tax evaders who will be doing business
elsewhere in countries like Singapore or Hong Kong. As a result
companies who want to invest don't see the size of the market. We
would be working with the government to change this," said
added Intel would not be affected by a low tax regime as it would
still gain through global sales, but it would affect the level of
its investment in Sri Lanka. It is estimated that a significant
share of over 50% chip requirement is being imported, dodging taxes.
"If this can be converted government gets recognition and can
significant role of the local office would be its initiatives in
education. The company would work with schools and universities
in computerisation projects such as setting up of labs. E-government
projects at all stages from pilot to full implementation would also
receive direct input from the local office.
immediate plans include the recruitment of a business development
manager and architecture manager to provide support to the local
distribution. The company plans to double its existing distribution
to 250 distributors and retailers during the year.
office which is the first in Asia Pacific under the chip manufacturers
Worldwide Emerging Markets Expansion Programme will be conducting
a series of Business Advantage Seminars across seven cities starting
seminar educates enterprises on bottom-line business benefits of
latest IT solutions, and the planning and management of effective
technology upgrades of PC's, notebooks and servers.
Corporation is a 35 year-old global company supplying computing
and communications industries with chips, boards, systems and software
building blocks for computers, servers, networking and communications
Pentium microprocessors still account for a predominant share of
its revenues. Currently Intel markets the Pentium 4 microprocessor
with its proprietary Prescot and Hyperthreading Technology that
enhances the computing experience with multi-tasking activities
as its top end product.