Incoming Finance Secretary Carlos Dominguez

MANILA - Incoming Finance Secretary Carlos "Sonny" Dominguez said on Friday he is "very happy" the National Telecommunications Commission (NTC) has acted on one of the platforms of President-elect Rodrigo Duterte, which is better telecommunications services.

"I am very happy that the NTC is picking up one of the issues President Duterte has brought up during the campaign. This is actually his idea. We want faster, we want better service, either through less dropped calls. We want faster internet," he said on ANC's Market Edge, his first live TV interview after Duterte won the presidential elections.

Dominguez said the Duterte administration is committed to improving the country's telecommunications services "as best we can."

Philippine Long Distance Telephone Co. (PLDT) and Globe Telecom Inc. announced on Monday that they were acquiring the telecommunication business of San Miguel Corporation.

READ: PLDT, Globe to acquire San Miguel's telecom business

The NTC on Wednesday meanwhile said the two companies have a maximum of one year to "significantly" improve their internet services, before they revoke the co-use agreement it granted the telcos.

NTC deputy commissioner Edgardo Cabarios said, before San Miguel Corp.'s sale of telco assets to Globe and PLDT, the two telcos already requested for co-use of the 700Mhz frequency.

NTC granted the request last week on condition that the public would feel "significant improvement" in internet speeds in a year, and that roll-out plans would be submitted to the commission in 60 days.

Dominguez revealed they have also reached out to both telco companies after the elections to see Duterte's campaign promise of faster internet come to fruition.

"They explained to us the difficulties that they were having, but also they explained to us the plans for their expansion. We have committed to support their improvement in service as best we can," he said.

Duterte earlier told the telco industry to improve its services or it will suffer consequences under his administration, including the possibility of opening the Philippine telco market to foreign players if the local companies fail to deliver.

“For the communications guys, iyung internet connectivity, you improve the service or I will open the Philippines to competition. Pasok lahat. Then it will bring down [the price] and increase efficiency,” Duterte said.

Internet speed in the Philippines is the second slowest in Asia, next only to war-torn Afghanistan. It is also among the most expensive. Consumer groups have blamed this on lack of competition.

READ: Guess which Asian country has slower Internet than PH?

-with Vivienne Gulla and Dharel Placido, ABS-CBN News