GCC set for $375 billion investment drive

Region's telecoms and broadband internet sectors expected to generate $70 billion in annual revenue by 2015

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By  Ronan Shields Published  November 15, 2007

The GCC telecoms sector will receive a staggering $375 billion boost over the next 10 years according to research quoted by industry experts.

Citing figures from research group Proleads, Trevor Punt, group exhibition director for IIR Middle East, said the telecommunications and broadband internet sectors will generate $70 billion in annual revenue by 2015 in the MENA region.

Punt also claimed that continued subscriber demand or for mobile phones, digital technology, internet and communication solutions was encouraging investment in the region's telecoms sector. He added that interest in telco services is showing no signs of a slowdown.

"With new and innovative technologies, the Middle East market is set to become one of the most lucrative in the world with a diverse range of business opportunities and tremendous scope for advanced communications systems," he said.

Current and active civil engineering and infrastructure projects of all kinds in the GCC countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates have a combined value of $1.3 trillion alone, according to Punt.

An estimated 25% of the multi-billion dollar GCC infrastructure development budgets will be spent on expanding telecommunications, according to IIR officials.

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