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PH acquires US$3-B worth of investments for ICT

Philippines | National

PH acquires US$3-B worth of investments for ICT

By Sonny Daanoy

The Department of Information and Communications Technology (DICT) highlighted the acquisition of US$3 billion in foreign investments aimed at improving the country's ICT projects.

Photo credit to Unsplash

"In the latest report from the DTI (Department of Trade and Industry) Board of Investments, we have successfully attracted many investors due to the various engagements of our president and his executives, including the DICT," DICT Assistant Secretary and spokesperson Renato Paraiso told Manila Bulletin in an interview on Dec. 28.

"We have attracted numerous investors, including $3 billion worth of foreign investments geared towards ICT data centers," he added.

In a separate exclusive interview with the MB Technews, DICT Secretary Ivan John Uy discussed the successful acquisition of foreign investments through President Marcos' foreign visits.

"Amidst the disruptions caused by the innovations of the Fourth Industrial Revolution, digitalization has become an existential imperative," Uy said.

"The speed and scale at which these technologies permeate our everyday lives require us to be very agile to the ever-changing fluid landscape," he added.

The country's ICT chief also emphasized the importance of collaboration among technology leaders in various fields.

"Continuous dialogue and collaboration among technology leaders in various fields, both in government and the private sectors, is important to keep our ears on the ground," Uy said.

Moreover, Uy emphasized the importance of investing in technologies and human resources, adapting to the evolving knowledge and skill sets required.

"We thus welcome our investors in the tech arena," Uy said.

"It is a testament to their confidence that the Philippines is indeed fertile land in which technological advancement can thrive," he said.

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Department of Information and Communications Technology

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