Indian-led iSON Group is planning up to $375 million in additional investments in the Philippines over the next decade, covering telecom towers, agricultural technology, digital healthcare, and business process outsourcing, according to the Department of Trade and Industry (DTI).
The proposed expansion was presented during a Sept. 12 meeting in India between Pres. Ferdinand Marcos Jr., economic officials, and iSON executives led by company founder and chairman Vivek Gupta.
The largest portion of the investment will come from iSON Tower Ltd. Inc., which plans to spend up to $300 million to expand its Philippine network to 3,000 telecom towers. The company aims to build between 300 and 400 towers annually over the next 10 years.
iSON Tower has already invested $65 million in 450 towers across Metro Manila, Luzon, the Visayas, and Mindanao under the Department of Information and Communications Technology’s Common Tower Policy.
The company, backed by TPG Peppertree Capital, the Asian Development Bank, and Security Bank, employs more than 120 people directly.
The planned tower expansion is expected to add more than 100 direct jobs and increase the company’s contractor workforce to around 1,000, the DTI said.
Outside telecommunications, iSON outlined another $75 million in planned and expanded investments.
Its agrotech unit intends to invest $50 million in an agro-solar project in New Clark City through a joint venture with the Bases Conversion and Development Authority.
The project will combine 50 hectares of greenhouses and polyhouses with a 40-megawatt-peak solar photovoltaic facility.
Initial crops will include capsicum, cherry tomatoes, and cucumbers, with production eventually expanding to between 20 and 25 crop varieties.
Another $15 million will support the expansion of iSON Health’s digital healthcare services. These include round-the-clock teleconsultations in English and Tagalog, second medical opinions through more than 300 partner hospitals worldwide, and medical tourism services for critical care.
The remaining $10 million will be used to expand iSON’s contact center operations, which currently serve Globe Telecom and Smart Communications. The company also plans to bring offshore work from South Africa, Egypt, and India to its Philippine operations.
“iSON Group’s expansion shows that our investment reforms are working and that global companies trust the Philippines. They are expanding here because of our strong economic growth, steady business environment, and talented workforce. Their investment in telecom, agriculture, healthcare, and BPO bring in capital and technology that will bring better connectivity, strengthen our local industries, and create quality jobs for Filipinos,” Department of Trade and Industry (DTI) secretary Cristina Roque said.
Department of Finance secretary Frederick Go said: “iSON Group’s continued expansion across multiple strategic sectors demonstrates the success of the administration’s investment reforms and that the Philippines is becoming a destination of choice for global investors. These investments bring in capital, technology, and innovation while creating quality jobs and opening new opportunities for Filipinos.”
The government said qualifying projects could seek fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy, or CREATE MORE Act.
The projects may also apply for expedited permit processing through the government’s green lane for strategic investments.
The stated $375-million figure covers the planned $300-million tower expansion and the additional $75 million across agrotech, healthcare, and BPO. It excludes the $65 million that iSON Tower said it has already deployed.
