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Friday, March 1, 2024

BOI endorses P50-billion telecom tower project

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The Board of Investments (BOI) said Wednesday it granted green lane endorsement to the Common Passive Telecommunications Tower Infrastructure Project of EdgePoint Tower Inc.

Board of Investments Governor Marjorie Ramos-Samaniego (fifth from left) awards the Green Lane certificate of endorsement to executives of EdgePoint Tower Inc. for its common passive telecommunications tower infrastructure project.

BOI governor Marjorie Ramos-Samaniego awarded the certificate of endorsement to EdgePoint Tower representatives headed by chief financial officer Vicente Francisco Araña at the BOI Main Office in Makati City on Sept. 18, 2023.

EdgePoint Tower will build and lease towers for telecommunications and digital services providers in the Philippines, targeting to own and manage about 6,400 shared passive telecommunications towers nationwide by 2030.

The P50-billion telco infrastructure project is expected to generate around 9,700 jobs.

Aligned with the Philippine Development Plan 2023-2023’s goal of expanding and upgrading infrastructure, the project will 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.

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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.

Through continuous innovation and the use of the latest technology, the project aims to elevate the methods by which telecommunication infrastructure is developed, operated, and maintained in the Philippines. It will optimize tower design to use fewer materials and will begin using indigenous materials to replace steel elements. To lower its carbon impact, the project will promote the use of renewable energy to power telecommunications infrastructure installations.

The BOI One-Stop Action Center for Strategic Investments (OSAC-SI) will monitor the actions taken by concerned government agencies on Edgepoint’s applications for permits and licenses and will submit a report to the Office of the President accordingly.

Telco infrastructure is one of the priority sectors of the BOI alongside EVs, smart/high-tech lighting manufacturing, outsourced semiconductor assembly and test, green metals, high-tech agriculture, renewable energy and data centers.

Aside from generating more jobs for Filipinos, the project will strengthen the country’s telecommunications landscape and provide high-speed internet connectivity to many areas.

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