PwC’s Loretta Fong emphasises value-added services remain a key focus for growth
She underscored strategic alliances and network sharing as crucial for enhancing competitiveness in Asia’s telecoms.
Asia’s telecommunications industry is evolving rapidly, shaped by technological advancements, changing customer expectations, and market competition. Companies must manage large-scale investments and deliver innovative services whilst meeting increasing demands for sustainability, transparency, and responsible growth.
Sharing key insights is Loretta Fong, Partner and Telecommunications Leader at PwC Hong Kong. She has over 20 years of experience in accounting, audit, and transaction advisory services for private and publicly listed entities in Hong Kong and the United States, as well as non-profit organisations.
Fong supports a wide range of telecom companies locally and internationally, leveraging cross-lines-of-service solutions. She also leads the firm’s Sustainability Assurance team, guiding multinational professionals to deliver innovative and transformative solutions, and has previously headed one of PwC’s major assurance groups in Hong Kong.
As a judge at the Asian Telecom Awards 2026, Fong discussed the key trends and innovations shaping Asia’s telecommunications landscape, highlighting the growing focus on competitiveness, value-driven solutions, and sustainable growth.
How would you describe the current landscape of the telecommunications industry in Asia, and what trends are most reshaping it today?
The telecom industry is often challenging and is currently experiencing rapid growth in 5G adoption. There are also a lot of emerging markets in Asia, and this technology adoption requires significant capital investment. At the same time, customer bases are not only large, as in China, but also young, as seen in Indonesia, creating high demand for network capacity and stability. Competition, on the other hand, pushes operators to seek growth through value-added services.
In your experience, how important is sustainability assurance in helping telecom companies demonstrate transparency and build stakeholder trust?
Sustainability assurance enhances the reliability of the data disclosed by companies, which in turn strengthens transparency and builds trust with stakeholders. These data effectively serve as scorecards for ESG performance, which is increasingly important, particularly for the younger generation.
In what ways can telecom operators in Asia best harness innovation to enhance competitiveness and customer value?
Given the combination of large customer bases and fierce competition, value-added services remain a key focus for growth. With the adoption of 5G, operators should also seek innovative use cases, such as smart cities, smart manufacturing, and autonomous mobility.
How can telecom companies in Asia enhance their competitiveness and agility as they operate across both domestic and global markets?
Forming strategic alliances amongst telecom operators in Asia, particularly through network and data centre sharing, will be critical to enhancing competitiveness. Cost efficiency is a major driver in maintaining agility in both domestic and international markets.
Looking ahead, how do you see Asia’s telecom industry contributing to broader regional economic growth and digital inclusion in the coming years?
The telecom industry serves as a backbone for technological development, including AI and robotics. Investments in low-latency and high-capacity networks will be essential for enabling these technologies, supporting regional economic growth and expanding digital inclusion.
As a judge for the Asian Telecom Awards 2026, what criteria will you be using when evaluating the nominees' achievements and impact on the industry?
I will focus on three key criteria: digital inclusion, citizen-driven solutions, and sustainability. These aspects reflect the broader impact of telecom innovations on society and the industry’s commitment to responsible, inclusive growth.
