Investors at home and abroad are being encouraged to take advantage of new measures designed to make investment in Philippines’ information communications technology (ICT) infrastructure more attractive.
The Covid-19 pandemic has meant more Filipinos needing to work from home, underscoring the need for faster internet speeds and greater reliability across all communications networks.
The Bayanihan to Recover as One Act or commonly referred to as the Bayanihan 2, signed recently by the President, will aid this effort by facilitating investment in additional cell towers, equipment software and wireless technologies.
Permits and clearances previously required for the construction of telecommunications and internet infrastructure will be temporarily suspended.
Meanwhile, a range of regulatory processes and procedures for the development of digital, internet and satellite technology infrastructure will be streamlined.
The measures form part of the government’s recovery package, aimed at helping businesses and workers with the economic impact of the Covid-19 pandemic.
Investors interested in investing in ICT infrastructure in the Philippines are being urged by the government to book an appointment with the Board of Investments (BOI) via their Facebook page. A dedicated investment specialist will be available to talk the interested parties through the new regulatory and investment processes.
Ceferino Rodolfo, Trade Undersecretary and BOI Managing Head:
“These measures will make investing and improving our internet and communications infrastructure even easier. Such investment is good for the businesses involved, but also for Filipinos who want a faster and better service.
I urge any business interested in learning more about the new measures concerning ICT infrastructure investment to book an appointment with one of BOI’s specialists today via our Facebook page.”