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The Philippines among the top 10 global investments in telecommunications
(Philstar.com) – October 19, 2020 – 1:00 pm
MANILA, Philippines – The Philippines is among the top 10 countries in the world when it comes to telecom investments according to the 2020 IMD Digital Competitiveness World Ranking.
As demand for Internet connectivity and access becomes essential in the new normal, spending to upgrade telecommunications infrastructure has increased aggressively.
Globe has embarked on broader and more inclusive constructions and deployments of its cell phone towers and fiber modernization to close gaps in areas of the country where connectivity needs further enhancements. At least P50.3 billion has been allocated in capital expenditures for Globe’s network expansion and upgrades by 2020.
“It’s been several years that the country has been over-indexing other countries when it comes to capital expenditures. For 2019, our CAPEX to income ratio is approximately 34%. We look forward to continuing investments due to the increasing demand for our services, ”said Ernest Cu, Chairman and CEO of Globe.
With new government policies eliminating the restrictive permitting process, investments in telecommunications infrastructure are focused on building towers to expand coverage and increase capacity. Increasing fiber connections to homes is another investment opportunity to provide customers with a better data experience. Countries with better infrastructure have shown better opportunities and capacity to mitigate the impact of the pandemic on their economies.
“With better, faster, more accessible and affordable services, our people will have more opportunities. These opportunities will then translate into a more stable and stronger economy which will hopefully give the Philippines a better place in the Global Digital Competitiveness rankings in the future, ”added Cu.
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