FinTech groups back ‘Konektadong Pinoy’ bill
MANILA, Philippines — Private sector groups FinTech Alliance PH, Better Internet PH and other business organizations expressed support for the “Konektadong Pinoy” bill— seen to boost internet connectivity in the country—amid calls for amendments from big telecommunications players.
In a statement on Monday, the groups urged the immediate signing of the bill into law to beef up digital infrastructure in the country.
“With faster, more reliable internet, we unlock new opportunities for economic growth, education, financial inclusion, and innovation,” FinTech Alliance PH founding chair Lito Villanueva said.
READ: Marcos certifies Konektadong Pinoy Act as urgent
The Senate passed the bill on third and final reading last week .
The bill seeks to provide Filipinos with affordable internet access by encouraging the entry of more industry players who can develop critical infrastructure across the country.
According to the proposed act, the National Telecommunications Commission must “ensure that the data transmission sector remains open and accessible to all qualified participants.”
The group earlier said this would allow “small players to further invest in infrastructure, especially in underserved areas where various hurdles hinder our efforts.”
In addition, FinTech Alliance said the proposed act would streamline regulations by simplifying the process for internet network and service providers.
As the bill moves forward, the Philippine Chamber of Telecommunications Operators (PCTO), whose members include industry leaders PLDT Inc. and Globe Telecom Inc., previously raised the need for some amendments. Otherwise, they said new regulations could hinder fair competition and even put national security at risk.
For one, PCTO said that exempting data transmission providers from “securing a congressional franchise and a Certificate of Public Convenience and Necessity creates an unequal regulatory environment, violating the principle of fair competition.”
The exemption could also eliminate “crucial safeguards that protect public interest by ensuring that telecommunications providers meet specific standards and obligations in order to provide quality and reliable services,” PCTO flagged.
The group also warned against the “explosion of cybersecurity incidents that threaten national security” given the “relaxation of regulatory scrutiny” on the part of data transmission providers.
