" ITREALMS: ITU-EC collaborate to attract investments


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Wednesday, January 02, 2008

ITU-EC collaborate to attract investments

INTERNATIONAL Telecommunication Union (ITU) and the European Commission (EC) have advanced plans aimed at attracting massive investment in ICT infrastructure and ICT-enabled applications.

Over the past decade, most countries in Africa, Asia-Pacific and the Caribbean have initiated reforms in the telecommunication sector by establishing national regulatory bodies, introducing competition and at least partially privatizing operators.

Chief, Media Relations and Public Information at ITU, Mr. Sanjay Acharya said that although large sections of the population remain without basic access to information and communication technology (ICT) services, there are some key reforms yet to be undertaken in many countries to provide regulators with the tools and authority to effectively regulate the sector as a means of boosting investment, promoting innovation and building confidence in ICT markets.

He also disclosed that the European Union (EU) has allocated Euro 8 million from the European Development Fund, to which ITU will add USD 500 000 of its own resources toward this joint venture, but would be managed and implemented by ITU.

He added that the ITU-EC deal aims at the harmonization of regulatory frameworks and the building of human as well as institutional capacity in the field of ICT.

Describing it as a fundamental shift in policy and regulatory frameworks is considered essential to achieve the connectivity targets by 2015 as committed in the Millennium Development Goals (MDGs) and the objectives of the World Summit on the Information Society (WSIS), which recognized the fact “to maximize the social, economic and environmental benefits of MDGs.”

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