Converge’s Dennis Anthony Uy Plans $1 Billion “Silicon Valley” Project In Pampanga

Dennis Anthony Uy, co-founder of publicly listed Converge ICT, will build in Pampanga his version of Silicon Valley— a billion-dollar venture meant to provide the ecosystem for new graduates to pursue a career in information technology and related industries as well as bring more economic activity to the place he calls home.

“The land is already acquired. It is more than 200 hectares. We are in the middle of the conversion of the property,” Uy told Context.ph in an exclusive interview. “This will help bring economic development to my hometown of Angeles,” he added.

Uy said the project would cost at least $1 billion and will need at least one foreign partner. He said Middle East investors are among those who have signified interest in the project.

“I’m just waiting for the master plan, government license, economic zone papers. Once all these are on hand, that is the time I’ll go on a roadshow. I’m not rushing,” he said.

The Silicon Valley project is Uy’s way of giving back to Pampanga, more particularly Angeles, the city that nurtured him as a boy and as a struggling businessman.

Uy was born in Fujian province and, as a young boy, migrated to the Philippines with his family in 1977, at the height of the Cultural Revolution. His family eventually settled in Angeles City where his Uncle Johnny owns and operates a couple of supermarkets.

With zero grasp of Filipino or English, Uy was enrolled in an elementary school by his Uncle Johnny within days of their arrival. He was also asked to help in the operation of the supermarket just outside the former Clark Air Force Base. Many of the airmen that frequented Johnny’s Supermarket eventually became customers of the video rental business that Uy and his family established.

Aside from renting out video recordings, Uy also learned the basics of repairing video equipment. But the more complicated problems he leaves to the experts in service shops to fix. In one of his trips to the JVC service shop, Uy had his first encounter with cable TV.

Uy was certain cable TV is the future and knew it would eventually “kill” their video rental business. He moved quickly, finding out as much as he can about cable TV operation, securing a license and afterwards selling all the video rental assets to raise P3 million that would be the seed capital for his cable TV venture.

Uy said the cable TV business gradually grew and allowed him to buy out other cable TV operators in areas surrounding Angeles City.

He even partnered with Destiny Cable, owned by the family of his godmother Elena Lim, to help the then third largest cable TV operator to offer customers with fiber broadband services.

Even before deciding to go to Metro Manila, Uy had already built a fiber optic network that carry his cable TV service—a harbinger of the founding of Converge, whose fiber network is only second to that of PLDT Inc.

Now a billionaire after the initial public offering of Converge, Uy said it was time to help nurture the dreams of new graduates by providing them the opportunity to have high-paying jobs within the province.

He said the master plan for Silicon Valley should be completed within in seven months while land development should start next year.

“This is a long-term infrastructure for the people” and would include software development and research and development components, said Uy. “I think this (investment) should not be below $1 billion and should have a strong (foreign) partner,” he added.

He plans to build the biggest data center and a satellite hub within the Silicon Valley project.

Uy said the Silicon Valley project will be handled by another group separate from Converge.