Regulator to launch ICT development fund

The Telecommunications Regulatory Authority (TRA) of the UAE, backed by the Supreme Committee for the Supervision of the Telecommunications Sector, yesterday announced plans to set up an ICT Development Fund to boost the country’s information, communications technology sector. The TRA says the new fund will promote both R&D and network build-out projects, and make improvements in education and training in ICT. The development fund will in the main be financed by the country’s principal network operators to the tune of 1% of their annual revenues. Other funding might include government or private grants, and payments from other sources approved by the TRA.