India's iSON Group eyes expansion in Philippines digital healthcare, BPO
Global technology and infrastructure firm iSON Group is looking to expand its $300 million investment commitment in the country with the addition of new projects in digital healthcare and business process outsourcing (BPO), according to the Department of Finance (DOF).
Finance Secretary and investment czar Frederick Go said in a statement that he recently met with officials of iSON Group to discuss its existing and potential investments in the country.
The company is looking at potential investment opportunities in the country’s growing digital healthcare sector, as well as the expansion of its BPO operations.
According to the DOF, iSON Group is on track to begin new onshore and offshore BPO operations in the country soon.
“The opportunities are tremendous. We want to put as much money on the ground as possible to really make it happen," iSON Founder and Director Vivek Gupta was quoted as saying.
In August last year, the company announced plans to invest up to $300 million over the next decade to expand digital infrastructure and strengthen connectivity in the Philippines.
Under its plan, iSON’s subsidiary iSON Tower will build up to 4,000 telecommunications towers nationwide, with a target of building 300 to 400 new towers annually.
At present, iSON Tower has already constructed 450 towers at an investment cost of approximately $65 billion, or about 22 percent of its total planned investment.
“The planned expansion is expected to strengthen the country's digital infrastructure and improve connectivity, helping more Filipinos gain reliable access to telecommunications and digital services,” the DOF said.
The company is also partnering with the state-run Bases Conversion and Development Authority (BCDA) on a 40-megawatt solar project that will be located in New Clark City in Tarlac.
Further, iSON Group is also planning to collaborate with the BCDA on a modern agri-farming project worth $50 billion and a 400-megawatt agro-solar project valued at $200 million.
Through these investments, Go said the country can advance its efforts to strengthen connectivity and agriculture and transition to clean energy, while also creating more opportunities for Filipinos.
"With active discussion with investors, we can unlock new investments, create quality jobs for the Filipino workforce, and strengthen key industries," he said. (Dexter Barro II)