2 Jan 2007
The Philippines’ Board of Investments (BoI) recorded PHP190.66 billion (USD3.89 billion) worth of new investments in 2006, up 16% year-on-year, driven by telecoms and power which accounted for around 60% of the total. The country’s three largest mobile network operators helped boost the BoI’s figures as they rolled out new network infrastructure for 3G mobile communications services. Smart Communications, the mobile arm of national incumbent PLDT, initially committed to invest PHP33.178 billion for the rollout of UMTS technology, although it has since revised down this figure in the wake of a reassessment over the short-term prospects of 3G. Meanwhile, the Gokongwei’s Digitel Mobile Philippines unit, which markets cellular services under the brand name Sun Cellular, is investing PHP6 billion for its rollout, and Ayala-led Globe Telecommunications is spending PHP5.48 billion in the first year of its 3G rollout.