International lenders did not disclose specificities, but said it was part of global cost-cutting plansNovember 26, 2015 11:32
All the world is looking at the Middle East in this economic downturn - but is Telecoms the answer?
March 27, 2009 12:00 by Aarti Nagraj
The current economic downturn and fluctuating energy and food costs is hurting everyone. But could the Telecoms sector start the fight back?
With the world in recession regions such as the Middle East and North Africa are stepping up to the challenge to start the fight back. With millions being invested in infrastructure to drive foreign business to the region and with an ever developing working population, the consumer demand is tripling, a momentum that cannot be seen to slow down.
Over 50 of the leading Telecom companies such as DU, Zain, Telecom Egypt, Afgan Telecom and Etisalat have just announced a key meeting on how the industry can unite and tackle the current climate as well as bring such investment to the MENA region.
The ‘Next Generation Telecom (NGT) Summit’ will be held in May at Le Meridien Al Aqah Beach Resort and will include the Heads of Technology and Business development alongside their respected CEO’s. Government officials have also confirmed attendance to ensure that the program will drive immediate value back to their constituencies.
The Telecom sector is in the midst of unprecedented transformation. Several factors are driving fundamental change: liberalization and increased competition, strategic mergers and acquisitions, regulatory pressure, systems reliability, convergence.
All of this requires large investment and a unity amongst the sector. If this is achieved new innovation could pave the way for more jobs within the sector, bring new businesses to the MENA regions and cheaper calls for the consumer.