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HONG KONG/MANILA -- The Philippines welcomes foreign telecommunications investors including those from China, the chief of a Chinese state-owned carrier said Wednesday, despite the maritime territorial dispute between the two nations that leaves hard feelings on the archipelago.
You do not have permission to view the full content of this post. Log in or register now., the country's second-largest carrier by revenue, appears a likely candidate to become the third telecom carrier in the Philippines, as President Rodrigo Duterte aims to break the duopoly of You do not have permission to view the full content of this post. Log in or register now. -- backed by Indonesia's Salim Group and Japan's You do not have permission to view the full content of this post. Log in or register now. group -- and Globe Telecom, a unit of You do not have permission to view the full content of this post. Log in or register now.. The two incumbents are hobbled by customer complaints of poor internet speeds, and Manila plans to award a new license by the third quarter of this year.
Security concerns have been raised in the Philippines about granting such a license to a Chinese entity. But Yang Jie, China Telecom chairman and CEO, said in response to a related question Wednesday that "in network building, they -- including the Philippines and in many countries -- extremely welcome foreign investors."
Yang avoided a direct answer, while stressing that expansion abroad is "for mutual supplementation and benefits."
Pressed further on the issue after the company's earnings briefing, Yang strongly denied that China appeared unwelcome in the Philippines, saying "no, no, you need to be careful as they wish the Chinese and other overseas participation."
Chinese involvement in the Philippine telecom market was initiated on the political level. During Duterte's November meeting in Manila with Chinese Premier Li Keqiang, the Philippine president said he would allocate the third telecom slot to China, prompting Beijing to endorse China Telecom.
But Duterte's invitation to Li sparked security concerns because of the territorial dispute in the South China Sea between the two countries. A former Philippine national security adviser said letting China operate such a telecom service would be tantamount to giving Beijing "access to our innards, brains and secrets."
Duterte later expanded the invitation to India during his January visit in New Delhi, while other foreign players are indicating interest as well. An investor conference in February for the third telecom player attracted companies from the U.S., Europe and Asia. The $5.2 billion Philippine telecom market is underpinned by a growing population and rising smartphone use.
Asked whether he remained interested in the country, Yang said "we are interested in all the possibilities that are presented to us." He revealed that the official application process has not begun, and the company is in the process of "further understanding and communicating" on the deal.
ANG TANONG : ASAN NA NGA BA ANG SINASABING CHINA TELECOM SA PINAS ?
MATUTULOY PA KAYA ANG BALAK NILA DITO SA PINAS ?
MASUSULUSYUNAN PA KAYA ANG HIRAP NG USAD PAGONG NA INTERNET NG PINAS ?
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