Now Telecom Co. Inc. said Friday it signed a letter of intent with the US Trade and Development Agency to support the former’s deployment of a nationwide stand-alone 5G mobile and fixed wireless network in the Philippines.
USTDA agreed to provide a grant on behalf of Now Telecom to fund a technical assistance and 5G pilot network launch to support the company’s 5G deployment.
USTDA director Enoh Ebong and Now Telecom chairman and chief executive Mel Velasco Velarde signed the letter of intent during a ceremony at the the Annual IPBF co-hosted by the governments of Japan and the United States, the US Chamber of Commerce and the US-ASEAN Business Council on Jan. 12. The IPBF is a business forum aimed to promote trade, investment, and economic cooperation between the United States and Indo-Pacific nations including the Philippines.
“Our goal is to deliver a clean and secure 5G network that will help achieve social and financial mobility, reduce inequality, improve health and education, and spur economic growth for the Filipino people,” Velarde said.