DTI woos Singaporean investors philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.
Published July 5, 2021, 12:35 PM
The rollout of additional open access fiber optic cables in the Philippines will lower internet rates and improve access by yearend.
Already, Philippines Fiber Optic Cable Network (PFOCN), the local subsidiary of Singapore-based HyalRoute Group, invested US$3 billion for a 60,000-kilometer fiber cable network project which Trade Secretary Ramon Lopez described as “the single most extensive cable network project in the Philippines todate.”
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“For sure, people will have cheaper, better and more stable internet access in more rural places by yearend,” Hendrick Huang, PFOCN executive deputy managing director, today (July 5) assured.
“As of today, we have completed over 9,000 kilometers of backbone fiber network nationwide,” he explained.
Published April 4, 2021, 8:00 AM
The Board of Investments has granted pioneer tax incentives to the P30.6576 billion project of Philippines Fiber Optic Cable Network (PFOCN), a Singaporean company, which is expected to spur the country’s telecommunications sector.
Trade and Industry Secretary Ramon M. Lopez announced the investment at the 2nd Philippine-Singapore Business and Investment Summit organized by the Philippine Chamber of Commerce and Industry (PCCI) that these sectors are under the DTI’s REBUILD strategy.
Trade and Industry Secretary Ramon Lopez. (ALFRED FRIAS/PRESIDENTIAL PHOTO FILE PHOTO)
According to Lopez, the BOI last year approved on pioneer status the PFOCN Corp. (0.00003% Filipino, 99.99995% Singapore, 0.00002% Chinese-owned), which is licensed to do business in the Philippines to engage in the installation, maintenance, sale and lease of optical dark fiber network, as well as other related activities.
Singapore investors urged to look at 5 priority sectors in PH mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.