THE Board of Investments (BoI) said it has approved the application for registration of Definite Gaming PTE Ltd. Philippines Inc. as a new services export provider under the Export Activities category of the current Investment Priorities Plan (IPP).
The P2.75-million project, classified as a micro enterprise in Mandaluyong City is a startup mobile game development and publishing company providing software development services for the games developed by its mother firm based in Singapore, Definite Gaming PTE Ltd.
“Such business activity reaffirms the Philippines as a high-potential game development hub of choice in the Asian region and highlights the capabilities and competitive edge of local game development industry players in meeting the stringent and highly technical skill requirements of international companies,” Trade Undersecretary for Investment Promotion Nora Terrado said on Tuesday.
The company started its business operations in February 2017 and has 20 personnel.
“Our people are some of the most globally-competitive game programmers in the Asian region and they are more than capable of developing a wide variety of games, be it in mobile, desktop, console, or the Web,” Terrado said, adding that many international game development firms are already taking advantage of this by tapping the country’s local talent pool including the potentials of around 100,000 annual graduates in the field of Information Technology and Engineering.
Last year, leading international game developer Ubisoft announced the opening of its Philippine production studio. Ubisoft is a leading creator, publisher, and distributor of interactive entertainment and services, with a rich portfolio of world-famous brands like Assassin’s Creed, Just Dance, Tom Clancy’s video game series, Rayman, Far Cry and Watch Dogs.
“The investment of Ubisoft and promotion of game development investments is in line with the strategic initiatives outlined in the game development industry roadmap which aims to increase awareness of the Philippines as a viable investment location for international game development companies, as well as their game-related services and offshore studios,” Trade Undersecretary and BoI Managing Head Ceferino said.
The Philippine Video Game Industry Roadmap 2016-2022 projects the industry to employ over 4,000 local workers with revenues reaching over $50 million by 2022. Last year, the industry posted an estimated $24 million in revenues with over 2,000 in workers.
The Philippines offers services that complement the corporate goals of gaming companies by providing expertise on retention and monetization of video game communities.
Player retention is strengthened through skillful customer support, systematic game moderation, and strategic community management. The country has been a preferred provider of game management support to production outfits worldwide and for casual games for social networking sites.
The BoI said that, the growth of the local industry continues and the market share and range of services are expanding as homegrown firms take advantage of opportunities in the global video game industry. The convergence of technologies and gaming platforms, demographic shifts, demand for cost-efficient development, and technological advancements are all fundamentally changing the ways in which games are played.