MANILA -The Board of Investments (BOI) has endorsed a P50-billion telecommunications project to the government’s green lane program for investments, the second investment of this type to get such recommendation.
The BOI said on Wednesday it had given an endorsement certificate to the common passive telecommunications tower infrastructure project of the local subsidiary of Edge Point Tower Inc.
The green lane scheme for strategic investments is meant to expedite, streamline and automate government approval and registration processes for priority projects. This is subject to approval by the trade secretary.
The lead investment promotion agency of the Department of Trade and Industry’s added that Edge Point would build and lease towers for telecommunications and digital services providers in the Philippines. It is targeting to own and manage about 6,400 shared passive telecommunications towers nationwide by 2030, added the BOI.
Telco infrastructure
“Aligned with the Philippine Development Plan 2023-2028’s 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 in a statement.
“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,” it added.
Telecommunications infrastructure is one of the BOI’s priorities, alongside electric vehicles, smart and high-tech lighting manufacturing, outsourced semiconductor assembly and testing, green metals, high-tech agriculture, renewable energy and data centers. INQ