DICT, Maharlika sign pact on digital infra investments
In a statement on Wednesday, the DICT said Secretary Henry Aguda and MIC president and CEO Rafael Consing Jr. signed a memorandum of understanding (MOU) on July 15.
Under its collaboration with the ICT Department, the country's sovereign wealth fund would invest in 'critical digital infrastructure projects that not only generate long-term returns but also drive inclusive growth across geographically isolated and disadvantaged areas (GIDAs).'
The DICT said the investment cooperation accord is seen to bring more ICT infrastructure as it emphasized the importance of strategic partnerships amid the growing importance of the digital economy in the country's economic growth.
'We will fulfill the promise of the President to the Filipino people to provide affordable internet, from Batanes and Marawi to Caramoan Island and everywhere that there's a person who needs to go online. If we work together, our window for execution is very short, but the impact we will create for this country will be generational,' said Aguda.
'This MOU marks a vital step toward building the digital backbone of our nation, one that delivers long-term, intergenerational impact. By prioritizing digital infrastructure today, we are not only enabling inclusive growth and innovation but also securing opportunities for future generations of Filipinos. Maharlika is proud to play a key role in shaping a more connected, future-ready Philippines,' Consing added.
The DICT said its partnership with the MIC is also expected to boost investor confidence and attract local and foreign investments in underserved areas.
By enhancing digital capabilities in remote and rural localities, the initiative will create a foundation for new economic activities, innovation hubs, and service industries, which will ultimately contribute to balanced regional development and reduced socio-economic disparities, according to the ICT Department. —VBL, GMA Integrated News
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
GMA Network
40 minutes ago
- GMA Network
Amendments to 4Ps law will let beneficiaries stay more than 7 years — DSWD
The Department of Social Welfare and Development (DSWD) said that amendments to the 4Ps program would allow beneficiaries to stay in the program as long as they needed to. During the Post-SONA discussion on Tuesday, DSWD Secretary Rex Gatchalian shared that President Ferdinand Marcos Jr.'s call to amend the 4Ps law would allow those in the program to stay longer than seven years. Gatchalian noted this as a welcome development, as two million Filipinos were about to exit the program in 2026 for reaching the maximum number of years in the program. 'Itong programa na ito namumuhunan tayo sa taong bayan, namumuhunan tayo sa Pilipino. This is an investment in human capital. Kumbaga hindi pa tapos yung ating pamumuhunan, kailangan siguraduhin natin na hindi masayang 'yung investment natin,' he said. (This program invests in the public and Filipinos. This is an investment on human capital. Our investments are not yet over, so we need to ensure that what we have poured in would not be wasted.) Gatchalian noted that the length of a beneficiary's stay in the program should depend on their state and quality of life, and if they would be able to support themselves after graduating from the program. 'Tinignan ng Pangulo yung kapakanan nila at yung estado nila sa buhay rather than yung pipilitin natin na alis sila sa programa, masasayang ang pamumuhunan natin sa kanila at masasayang yung programa sa whole,' he shared. (The President is considering their welfare and state of life rather than forcing them to leave the program, and it would be a waste of our investment on them and the program as a whole.) 'Kailan tignan natin yung estado ng pamilya: Kaya na ba talaga nilang tumayo sa kanilang sariling paa? Yung mga anak ba nila, nakatapos na?' he added. (We need to look at the state of the family: Can they now stand on their own? Have their kids been able to finish their studies?) The DSWD Secretary shared that 1.4 million Filipinos have already graduated from the 4Ps program since it began in 2022. — RF, GMA Integrated News
GMA Network
an hour ago
- GMA Network
DMW files plunder raps vs ex-OWWA chief Arnell Ignacio, 8 others over land deal
The Department of Migrant Workers (DMW) on Tuesday filed plunder and graft charges against former Overseas Workers Welfare Administration (OWWA) administrator Arnell Ignacio and eight others over the controversial P1.4-billion land acquisition deal. Filed before the Office of the Ombudsman, the complaint also accused Ignacio, his two former deputies at OWWA, and six individuals who belong to the seller group of malversation of public funds. The DMW said the complaint stemmed from the purchase of a 1.5-hectare property near Ninoy Aquino International Airport Terminal 1 in September 2024, on which a halfway house for returning overseas Filipino workers (OFWs) would be constructed. However, the DMW said that the property's close proximity to the airport runway made it unsuitable for development. The DMW added that OWWA's board of directors was not consulted and did not authorize the contract to sell, the deed of sale, and the supplemental agreement in connection with the purchase of the property. Vouchers and checks were also signed prior to the deed of sale, DMW Secretary Hans Leo Cacdac said. Ignacio, who was removed from his post, denied in May that the land sale was anomalous and that he profited from it. —VBL, GMA Integrated News
GMA Network
2 hours ago
- GMA Network
PH gaming industry grows 26% to P214.75B in H1 2025 — PAGCOR
The country's gaming industry saw a double-digit growth in terms of total revenues, reaching over P200 billion in the first half of 2025, thanks to continued popularity of online or digital betting among Filipinos. Data released by the Philippine Amusement and Gaming Corporation (PAGCOR) showed the sector's gross gaming revenues (GGR) stood at P214.75 billion from January to June 2025, up 26% from P171 billion year-on-year. This as the electronic gaming sector — composed of e-games, e-bingo, and bingo grantees – continued to outpace traditional or brick-and-mortar gaming with P114.83 billion in gross revenues or 53.47% of total GGR. Meanwhile, licensed casinos — comprised of integrated resorts and brick-and-mortar casinos in Metro Manila, Clark, Cebu, La Union and Rizal — accounted for 43.47% or P93.36 billion of the industry's GGR. PAGCOR-operated casinos, moreover, contributed the remaining 3.06% or P6.56 billion to the overall industry performance. 'PAGCOR recognizes the earning potential of the e-games sector, but as the country's gaming regulator, our foremost responsibility is to ensure that growth comes with accountability,' said PAGCOR chairman Alejandro Tengco. 'Our role goes beyond revenue generation; and as partners of the government in nation-building, we are committed to always strike a balance between enabling industry expansion and ensuring it aligns with responsible gaming standards,' added Tengco. The PAGCOR chief noted that the gaming industry regulator recently signed a memorandum of understanding with the Ad Standards Council (ASC) to strengthen the monitoring of gambling-related advertisements across all platforms. It also recently ordered the takedown of all gambling ads in public spaces and primetime TV by August 15 this year. 'These efforts are part of our broader mission to ensure that online gambling is not only well-regulated but also aligned with public interest,' said Tengco. — BAP, GMA Integrated News
