PLDT sets aside USD550m to upgrade networks, services

The Philippines’ largest telecoms company by subscribers and revenues, Philippine Long Distance Telephone (PLDT), plans to invest USD550 million in 2008 to develop its network infrastructure to support the country’s outsourcing sector. According to Thomson Financial, which cites a local newspaper as its source, PLDT plans to expand its network infrastructure and upgrade its capacities ‘in relevant areas across the country … to further enable the outsourcing and off-shoring industry to become more globally competitive’.