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Huawei: ICT has transformative power on economy

Huawei: ICT has transformative power on economy

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Chinese technology firm, Huawei Technologies, has said information communications technology (ICT) has the transformative power to boost sustainable socio-economic development. It argued that  governments have  vital roles to play in creating a favourable environment for the development of the industry.

This was contained in a position paper launched at the just concluded International telecommunications Union (ITU) Telecom World 2018 in Durban, South Africa.

In the position paper titled: Telco: Investment, Innovation and Competition in ICT Infrastructure, Huawei said the development trends of ICT  observed around the globe and their potential social economic development spurred by ICT are enormous. It said it arrived at the conclusion after conducting a regression analysis based on a data set of 125 countries for the period 2010 to 2016. It said every 16-20 per cent increase in ICT investment brings one per cent growth in gross domestic product (GDP). It stressed that in order to fully unleash the potential of ICT in promoting economic growth and societal well-being, governments have a critical role to play in supporting investment in ICT infrastructure, encouraging ICT innovation, and in guiding and regulating ICT competition.

At the launching ceremony, Houlin Zhao, ITU Secretary-General, said government should make ICT policy not just sectoral but national. The development of ICT and relevant infrastructure cannot be realised by solely relying on participants in the ICT ecosystem. Instead, it requires support and guidance from governments.

He said: “Our objectives are clear: connecting the unconnected, providing people with more advanced technologies, developing new applications, and facilitating other ecosystems. And to succeed in this endeavor, we need more innovative public-private partnerships.”

The post Huawei: ICT has transformative power on economy appeared first on The Nation Nigeria.

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