Argentina claims telecoms reforms to draw in $20bn of investments

Argentina claims telecoms reforms to draw in $20bn of investments

Argentina’s communications minister has said reforms to the country’s telecoms market is expected to attract $20 billion worth of investment over four years.

Communications Minister Oscar Aguad told Reuters companies, including Motorola and AT&T have expressed an interest in spending in Argentina, while Telecom Argentina and Telefónica de Argentina have both announced investments in recent months.

The reforms were announced last year and will allow telecoms companies to enter the cable TV market, which has traditionally been dominated by Cablevision. The government has also announced plans to sponsor a new communications law last year aimed at encouraging development and competition in technological industries.

"As long as we are able to dictate a norm with clear rules, I think the figure of $5 billion a year is possible," Aguad told Reuters, adding that the investment level should continue for four years.

Telecom Argentina pledged in July that it would invest $2.6 billion between now and 2018, while Telefónica has reportedly invested $330 million already this year. Earlier this year, Fintech bought Telecom Italia’s stake in Telecom Argentina for $960 million.

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