Investments in broadband are profitable for the region.
The penetration of fixed broadband in Latin America stands at 8 percent, while the levels reached in other regions of the world stand at 9.1 percent. For Diego Sanchez, CAF's Director of Analysis and Sectorial Programming, this is an opportunity to develop financing mechanisms for its expansion.
With the purpose of guaranteeing universal access to Information and Communication Technology (ICT) services, promoting economic growth, and reducing poverty, during 2013 CAF, Development Bank of Latin America, encouraged several countries of the region to carry out digital inclusion plans that seek to develop high-speed communication networks, and improve the skills of the population in order to get the benefits of their applications.
"Although Internet demand is increasing rapidly, the penetration of fixed broadband in the region stands at 8 percent. That is, still below the levels achieved in other regions of the world, which stand at 9.1 percent. Broadband is the driver of future societies. Investing in broadband is economically and socially profitable for the region, taking into consideration the positive impact it has on the population", stated Diego Sanchez, the Institution's Director of Analysis and Programming, during his participation in the annual forum of the National Chamber of Telecommunication Companies (Canaemte, for its acronym in Spanish), held this past May 22nd in Caracas.
Different studies carried out by CAF for the ICT sector conclude that in Latin America there is a significant lack of communication networks to guarantee universal access to these services. As a result, there is still a gap in accessing the benefits of broadband, mainly for low-income populations, some public and educational institutions, and a large part of the SME productive sector which has not yet incorporated advanced communication and technological services to their productive process. This situation opens an important space for CAF in the search of financing mechanisms and technical assistance to make broadband accessible to all.
"The update of a diagnosis was concluded in order to understand the current level of development of the telecommunications infrastructure and the advances in the development of ICTs in 16 countries of the region", stated the Director of Analysis and Programming when highlighting that research allowed for the evaluation of future investment needs in the ICT sector that promotes integration and international competitiveness of Latin America through the dynamics of the sector.
During the forum, Manuel Fernandez, the Minister of Popular Power for Science, Technology, and Innovation, presented the "2014-2019 National Plan for Telecommunications, Information Technology, and Postal Services".
The Canaemte event annually gathers regulators, service and infrastructure providers, and manufacturers, to review the new global technologies, solutions, and developments for the local market, as well as the challenges in the ICT sector regarding economic, regulatory, and social environment.
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