BOI extends support to P50 billion telco project

MANILA, Philippines — The Board of Investments (BOI) is assisting in the processing of permits of a P50 billion telecommunications infrastructure project as it is seen to offer wider connectivity and greater access to digital service to Filipinos.

“Responding to the Philippine government’s call for wider connectivity and greater access to digital services, a P50 billion telecommunications infrastructure project aimed at providing faster internet connection nationwide, is set to make it happen for Filipinos especially those in remote areas,” the BOI said in a statement yesterday, referring to the joint venture between Macquarie Capital and Phil-Tower Consortium.

The project involves the construction and operations of shared telecommunications infrastructure facilities that will provide coverage and internet connectivity to Filipinos in remote, unserved, and underserved areas in the country.

“Phil-Tower, as an enabler of 4G and 5G coverage for smart cities, will provide innovative outdoor solutions through camouflage sites, micro poles, green towers, and smart poles as a regional pioneer of in-building solutions,” the BOI said.

It said that Phil-Tower had rolled out more than 200 telecommunication towers as of 2022.Itis eyeing to construct more in the following months.

The officials of the joint venture recently visited the BOI to discuss the project and request the agency’s provision of investment facilitation services to hasten the implementation of the project.

BOI director for Investments Assistance Service Ernesto delos Reyes, Jr. assured them of the agency’s support by assisting them in processing their business permits and licenses and facilitating investment-related concerns.

The agency’s support services for investors are part of the BOI’s reinforced commitment to support investors through its Strategic Investments Aftercare Program.

As part of this initiative, the BOI has pushed for the recent signing of Executive Order No. 18, “Constituting Green Lanes for Strategic Investments.”

The order designates the BOI as the single point of entry for the endorsement of strategic investments qualified for green lane services.

The move aligns with the government’s effort to create a more business-friendly environment and provide ease of doing business to attract more strategic investments to the country.

“Through these efforts, the BOI ensures the success of investments in the Philippines,”Delos Reyes said.

For their part, Phil-Tower CEO Devid Gubiani and Phil-Tower executives expressed their appreciation for the approval of the order, which they said would help them carry out their time-bound business plans in the country.