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Foreign Investors Urge Approval of Konektadong Pinoy Bill to Enhance Internet Access in the Philippines

Published: 5.23.2024

In a significant push for improved digital infrastructure in the Philippines, foreign investors are calling for the immediate approval of the Konektadong Pinoy Bill to enhance internet access across the country. This legislation has garnered substantial international attention, promising to address long-standing connectivity issues and propel the country's digital economy forward.

A World Bank study highlighted the critical state of internet connectivity in the Philippines, revealing that only about 33 percent of households have access to fixed internet. The Joint Foreign Chambers (JFC) argues that the Konektadong Pinoy Bill is essential for addressing these challenges and ensuring that more Filipinos can participate in the digital economy.

Boosting Economic Growth

The Konektadong Pinoy Bill is expected to stimulate economic growth by bridging the digital divide that has affected various sectors. The bill seeks to tackle the persistent connectivity challenges faced by many Filipinos in rural and underserved areas. By improving the nation's internet infrastructure, the Konektadong Pinoy Bill aims to ensure that more citizens can participate in the digital economy, including access to online education, telehealth services, e-commerce platforms, and remote work opportunities, fostering inclusive growth and development.

Foreign investors have expressed confidence that the approval of this bill will significantly enhance the Philippines' investment climate. A more reliable and widespread internet infrastructure is seen as a critical factor in modernizing the country's economy and improving its global competitiveness. Investors are keen to support initiatives that align with their goals of sustainable and inclusive economic growth.

Government Support

The National Economic and Development Authority (NEDA) has thrown its weight behind the bill, underscoring its potential to dismantle barriers to entry in the data transmission sector and promote fair competition. NEDA Secretary Arsenio Balisacan noted that the bill aims to reduce costs and expand access to high-quality internet services, particularly in underserved and unserved areas.

The Philippine government has shown a positive response to the growing calls for the bill's approval. Officials have highlighted the importance of digital transformation in achieving the country's development goals. As the Konektadong Pinoy Bill moves through the legislative process, the support from foreign investors underscores the critical need for improved internet access in the Philippines. The successful implementation of this bill could pave the way for a digitally empowered nation, fostering economic growth, and enhancing the quality of life for millions of Filipinos.

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