Iran’s fast growing Tech & ICT sector will absorb over 16 billion Euros to insure it’s growth and development.

Minister of Communications and Technology Vaezi, announced in the Iran Connect conference that in order to achieve the goals set for Iran’s ICT sector development, 16 billion euros of investment is required which the government will provide one fourth of this number and the other 12 billion will be absorbed from the private sector, according the ITmen. “Although there are negative news about Iran in western media, we’re witnessing a great amount of interest from international mobile operating networks coming to Iran for negotiations on investments and cooperations in Iran’s Tech & ICT sector.

Minister Vaezi also continued to talk about the achievements in Iran’s tech world in the past 3 years. Providing the latest technology, and free & easy access to data has been one of the main goals of Rouhani’s administrations since it took office three years ago. “Amount of digital content created, and fast access to data has had a 4x growth in the past 3 years,” said Vaezi. He also announced that Iran’s updated ranking in ICT development is now 92 from the previous 117 among governments.

“By using the latest Internet Transit technologies and having multiple neighboring countries by land and sea, Iran can provide a much more cheaper and more quality internet transit line to the west,” said Vaezi on the topic of internet transit which is considered as a hot topic of investments. Reportedly, the volume of Iran’s internet transit has grown 5 times in the past 3 years and it will have an additional 4x growth in the next 1.5 years. Iran is currently neighboring 16 counties by land and sea which is an ideal location to be a major Internet Transit.

Paris based mobile operating network Orange is also among the investors that is highly interested to invest in Iran’s ICT development projects. More news on that coming up shortly.

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