The Ministry of Information and Communication (MOIC) said Monday that it would move ahead with an investment to set up a broadband convergence network, or BcN, so that the current average Internet speed of 2Mbps (megabits per second) could be raised to 50 to 100Mbps.

BcN is to be the country's new IT infrastructure, allowing subscribers to use telecommunications, broadcasting and Internet services without any restrictions in terms of time, place, device or content.

The MOIC said that construction of the BcN would be worth W95 trillion in the output of equipment and service, account for US$13.5 billion in exports and provide 370,00 new jobs by 2010.