As the Philippines is gearing to be the next hyper-scale hub in the Asia-Pacific region, many opportunities for investments and partnerships await the hyperscale and data center firms who want to invest in the country, especially from the companies in Hong Kong and China.
"We believe that the hyperscalers industry will be the next growth engine of the Philippines. We are keen on helping hyper scalers cloud services and start-up ecosystems in the Philippines. We hope that you find these opportunities as promising as we do with your trust and passion. Let us make hyper scale investments and partnerships happen in the Philippines," according to Trade Secretary Fred Pascual in a recent webinar organized by the Board of Investments.
Ripe for digital growth
For his part, PLDT Enterprise vice president and Technology Management advisor, Victor Aliwalas, underscored that the country is already ripe for digital and bullish growth prospects.
In 2022, the Philippines is expected to lead the technology spending growth in Asia, ahead of Vietnam and Malaysia.
He stressed that the Jupiter Cable System is a proof — the newest trans-Pacific cable facility connecting the Philippines to the United States and Japan.
With a network distance of 14,866 kilometers, it is the fastest cable system between the Philippines and the US with 126ms latency between Daet, Camarines Norte, and Los Angeles, California.
Also, Trade Undersecretary Rafaelita Aldaba laid down value proposition of the Philippines for the hyperscalers as well as the numerous government initiatives for the firms, as the country has a thriving digital economy landscape with strong macroeconomic fundamentals that will continue to attract positive investment prospects.
She mentioned that the Philippines is an early adapter of 5G technology in the Asia Pacific, according to Moody's, along with Hong Kong, Singapore, and Malaysia.
The Philippines has a "demographic sweet spot" because of its rich talent pool of 46.5 million workforce, and the country is producing an average of 750,000 graduates annually. With the amended PSA (Public Servie Act), the official said the government is allowing 100 percent foreign ownership in the country's telecommunications industry.
Meanwhile, the Philippines as a high potential market was attested by two of the leading hyperscaler companies in Hong Kong and China.
