Sri Lankan government approves investments of over US$ 200 million in telecommunications sector to expand networks and 4G services
The government of Sri Lanka has reportedly approved the investment of over US$ 200 million in the country’s mobile and fixed access networks in order to carry out network expansions as well as upgrading into fourth generation (4G) broadband services.
Sri Lanka’s Minister of International Trade and Investment Malik Samarawickrema has meanwhile told parliament that US$ 1.3 billion of investment proposals had been approved by the Board of Investment (BoI) of Sri Lanka up to April 2018.
According to reports, Sri Lanka Telecom (SLT), a fixed access provider which also has a fiber optic backbone has received approval to invest US$ 79 million to expand its network.
Mobitel (Pvt) Ltd, a cellular unit of SLT will invest a further US$ 80 million to upgrade coverage to 4G LTE broadband.
Hutchison Telecommunications Lanka, a mobile firm which is expected to merge with Sri Lanka’s Etisalat unit has also received approval to invest US$ 57 million.
The Sri Lankan government with its latest move to approve investments to the country’s mobile and fixed access networks aimed at expanding and upgrading into fourth generation (4G) broadband services, has signaled its commitment towards the introduction of the latest technologies in telecommunications. Foreign businesses engaged in telecommunications and digital services could look at providing knowledge and assistance in Sri Lanka’s endeavor to upgrade and expand telecommunications and digital infrastructure.
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