Companies bidding for the third telecommunications contract in the Philippines must commit to invest at least P40 billion a year for the first five years, according to the long awaited draft terms of reference (TOR) released by the Department of Information and Communications Technology (DICT) on Tuesday. The TOR for the selection process noted that the successful telco must meet a number of specific criteria during a five year “commitment period”, such as maintaining a minimum average broadband rate of 5 megabits per second (Mbps). The release of the TOR is viewed by observers as the official start of the third telco selection process, which DICT acting secretary Eliseo Rio Jr. hopes to complete within this year. The winning bidder for the slot will be awarding a set of 3G, 4G and 5G frequency bands for its operation by the government. The draft terms of reference will now undergo public consultations starting next week, the DICT said.
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