042407: Russian IT outsourcing market to reach $1B--Intel exec
April 24, 2007 Updated 09:19:14 (Mla time)
Agence France-Presse
LONDON -- The IT outsourcing market in Russia will reach a billion dollars in 2007, the chairman of the Russian branch of US semiconductor giant Intel said on Monday.
"Hundreds of companies are investing in Russia in outsourcing - this market is going to reach a billion dollars (740 million euros) this year," Steve Chase told the Russian Economic Forum in London.
Large foreign firms have realized that in Russia there are "fantastic programmers they can't find in the US or India," and are increasingly delegating projects to Russian companies, he said.
"A vibrant IT market is developing in Russia. People know you have to be in Russia because it's a very fast growing market," Chase added.
Intel has invested $700 million (515 million euros) in Russia in the last 15 years, while aircraft construction giant Boeing and telecoms equipment firm Motorola have also set up centers there employing local engineers.
Chase added that Google and HP have recently arrived on the Russian market.
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