IT Infra Investment Sets Optimism for Economic Growth

With the value of the internet being underscored during this pandemic, the government is planning to invest more in Information Technology (IT) infrastructures in the country.

In a virtual event, the government has emphasized its commitment to improving the quality of the internet in the country. They said that the improvement of the sector will help propel economic growth, which in turn combat poverty in the country by making the internet more accessible to everyone.

While face-to-face classes were prohibited because of the threat of the pandemic, a “digital divide” is more evident—prompting the government to raise the quality and accessibility of the tool.

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said that it is time to invest in human capital. He added that with the advent of technology, the tech-savvy generation are in pace to become the “ace in the sleeves” of the country.

“We really need to make it available to even the lowliest families because if you want to do remote education, you can’t do that without infrastructure,” Diokno said.

The Build, Build, Build program of the government will be key for this endeavor to ensure sustainable growth not only for the IT infrastructure in the country but also the economy itself.

Diokno also lauded the new executive order signed by President Rodrigo Duterte that expanded access to satellite services.

Under EO 127, non-enfranchised but registered internet service providers (ISPs) and value-added service providers (VASPs) may directly access satellite systems to put up broadband facilities.

This EO will help ease the entry of new information and communication technology (ICT) industry players by simplifying the licensing process for broadband network providers.

Diokno also mentioned that financial authorities are supportive of the other pending bills in Congress that allow for more open access to the internet. (ASC)