MANILA, Philippines — President Benigno Simeon Aquino III hailed on Wednesday the US$700-million modernization program of Globe Telecom Inc. with the help of two of the world’s leading network support providers in a bid to further improve mobile phone and internet services in the country.

The President witnessed the signing of the agreement between Globe and Huawei Technologies Co. to modernize its network during a ceremony in Malacañang. Another deal was forged with Alcatel-Lucent to manage the project.

The President thanked the Globe and its two partners for the latest huge investment, saying this endeavor proves continued investor confidence in the country. “A healthy telecommunications sector would result in a healthy economy,” the President said in his remarks.

At least US$570 million of the total amount will be spent this year and in 2013 for the modernization program that includes an all-IP infrastructure, pervasive 3G coverage, double fiber optics capacity, 4G readiness, and overall quality and resiliency.

Once completed, Globe customers can reportedly enjoy improved call quality under 3G network, rare dropped calls and instantaneous SMS delivery and fast mobile Internet access.