The document discusses the Philippines' information and communications technology (ICT) industry and its goals for industry growth and global leadership. It aims to generate $50 billion in annual ICT industry revenues by 2016, including $27.4 billion from IT-BPO exports. It also aims to attain world leadership in several fast-growing ICT services and double its market share in others. The Next Wave Cities program is described as a way to develop ICT hubs nationwide to support country-wide development.