The country’s top think tank is calling on the government to invest in broadband infrastructure to boost the competitiveness of the Philippines in the global digital economy.
He echoed the call of the Private Sector Advisory Council which asked for an increase in the budget of the Department of Information and Communications Technology to P240 billion, which in the six years from 2018 to 2024 totaled only 7.6 billion. Manhit added that the transformative potential of broadband infrastructure can be best harnessed by the Philippines’ young and digitally savvy population, even as all segments of the citizenry stand to benefit from digital transformation.
Despite best efforts by private telcos in the Philippines, challenges continue to hound the digital sector, with broadband penetration rates and internet speeds lagging behind those of other countries in the region. “Imagine if we could reach these underserved segments, and how they could contribute to economic activity as well as enhance their own technological know-how,” said Manhit.No less than the World Bank has said that the Philippines has a broadband investment gap of around $2 billion or P110 billion per year, and even fiscal measures and direct investments by the government would hardly be enough to cover the deficit.
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