Economy, Sci & Tech

Telecoms Investment to Reach €16b

Telecoms Investment to Reach €16bTelecoms Investment to Reach €16b

Iran plans to invest €16 billion in the field of telecommunicationd, Minister of Communications and Information Technology Mahmoud Vaezi announced on September 7 at a conference in Tehran. Iran’s telecoms industry has gone through a radical transformation since President Hassan Rouhani came to power, with key investment and licensing of the latest globally available technologies being undertaken at a rapid rate. Vaezi noted that the investment will be made by the state and private sector over the next five years, with key investment earmarked for the mobile telecoms sector, ISNA reported. He noted that a quarter of that investment will be made by the government and the private sector will be responsible for the rest. The minister also announced that Iran welcomes foreign investment in information and communications technology and will also prepare the ground for it. Vaezi’s statements come amid a rush of interest in recent weeks after the announcement that Orange SA of France would buy a minority stake in Mobile Telecommunications Company of Iran and help reach their target.