EdgePoint’s P50 billion tower project endorsed for green lane processing

MANILA, Philippines — The Board of Investments (BOI) has endorsed a P50 billion telco tower project for green lane processing, in line with its efforts to accelerate strategic investments in the country.

In a statement yesterday, the BOI said it granted green lane endorsement to EdgePoint Tower, Inc.’s Common Passive Telecommunications Tower Infrastructure project.

According to the BOI, EdgePoint Tower will build and lease towers for telecommunications and digital services providers in the Philippines, aiming to own and manage approximately 6,400 shared passive telecommunications towers nationwide by 2030.

The  telco infrastructure project is expected to generate around 9,700 jobs.

“Aligned with the Philippine Development Plan goal of expanding and upgrading infrastructure, the project shall support the government’s initiative to enhance telecommunications services nationwide and increase connectivity, mobile network access, and internet penetration in unserved and underserved regions of the country,” the BOI said.

The project will also provide access to the essential telecommunications infrastructure to enhance mobile telecommunications services and create a level playing field among new and existing mobile network operators, the investment promotion agency said.

The BOI further explained that through continuous innovation and the use of the latest technology, the project aims to elevate the methods by which telecommunication infrastructure is developed, operated, and maintained in the Philippines.

“To lower its carbon impact, the project will promote the use of renewable energy to power telecommunications infrastructure installations,” the BOI said.

The agency said its One-Stop Action Center for Strategic Investments (OSAC-SI) would monitor the actions taken by concerned government agencies on Edgepoint’s applications for permits and licenses and will submit a report to the Office of the President accordingly.

The BOI emphasized that telco infrastructure is one of its priority sectors alongside electric vehicles, smart/high-tech lighting manufacturing, outsourced semiconductor assembly and test, green metals, high-tech agriculture, renewable energy, and data centers.

Aside from generating more jobs for Filipinos, the BOI said the telco tower project will strengthen the country’s telecommunications landscape and provide high-speed internet connectivity to many areas.

BOI Governor Marjorie Ramos-Samaniego awarded the certificate of endorsement to EdgePoint Tower representatives headed by its chief financial officer  Vicente Francisco Araña at the BOI main office in Makati City on Sept. 18.

With the recently-signed Executive Order 18, the BOI said green lane endorsement will expedite the processing and issuance of permits and licenses for projects identified as strategic investments.