IT investment in UAE ‘to grow 15% in 2011'
Official study forecasts that investments in IT and telecoms sectors will reach more than AED18bn this year
Investment in the UAE's IT and telecoms sectors will grow by 15% in 2011, according to a government-backed study.
A report by the Abu Dhabi Department of Economic Development (DED) found that spending in these industries will reach AED18.4 billion (US$5 billion), compared to 2010's level of AED16.1 billion.
The study, published on the official WAM news agency's website, says that both governments of the UAE and Abu Dhabi emirate have taken significant steps to promote telecommunications and IT infrastructure, as part of a drive to create a "knowledge-based economy" in the Gulf country.
It also stated that the UAE had experienced a "quantum leap" in terms of ICT capabilities.
According to WAM, mobile penetration in the UAE reached 199.3% in February 2011, as well as a 63.2% internet user rate.
The DED study was conducted to coincide with World Telecommunication Day, which serves to remind populations of the economic, social and environmental role that telecommunications play.