Study ranks PH in Top 10 in worldwide telco investments
The recent study by the Switzerland-based IMD World Competitive Center ranked the Philippines 10th along with India (1), South Africa (2), Croatia (3), Australia (4), Slovenia (5), Columbia (6), Ukraine (7), Malaysia (8), and Mongolia (9) out of 63 economies which scored high in terms of investments in the industry. WDCR, which was conducted during the first wave of the COVID-19, measures the capacity and readiness of these countries to adopt and explore digital technologies for economic and social transformation in the face of the pandemic. It ranked economies it surveyed based on knowledge, technology and future-readiness. In the Philippines, the two giant telcos have increased its spending on telecommunications infrastructure over the years, to expand connectivity and improve internet access. And with the entry of the third telco, DITO Telecommunity, to the country is envisioned to make a headway in capacity and services. Globe Telecom president and CEO Ernest Cu has said that the company’s capital expenditures to revenue ratio in 2019 was at 34 percent and it would continue to increase its investments due to higher demands for services. And in 2020 alone, Globe has set aside P50.3 billion in CAPEX for builds and rollouts of its cell towers, fiber modernization, and other expansion and upgrades to further improve connectivity, particularly in areas where there are gaps.
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