Investment in telecommunications and expertise in Ecuador reached a document US$900mn final yr, in keeping with figures launched on Monday by the telecommunications ministry (Mintel).

“I am confident that the number will be much higher this year,” Minister Vianna Maino mentioned throughout the 2022 efficiency evaluation by sector regulator Arcotel.

Maino gave an outline of the principle areas during which progress was made final yr, together with the reform of the organic law on telecommunications, the creation of the digital transformation regulation and the fintech regulation.

There had been additionally different updates in sector regulation, such because the elimination of the particular consumption tax (ICE) on cell phone plans. According to Mintel, this determination saved residents and corporations a mixed whole of US$70mn.

In addition, the fee for telecommunications devices was abolished and the tax on fiber optic cables was decreased from 15% to 10%.

A brand new spectrum regulation was additionally issued final yr for granting and renewal of spectrum titles that reduces the price of the frequencies.

These regulatory adjustments had been made with the intention to promote funding within the sector, particularly by way of connectivity. 

The most vital tasks within the sector embrace two new submarine cables (Aurora and Galapagos Cable System), that are anticipated to enter service this yr.

Investment in cellular networks additionally elevated final yr. Mobile companies reached greater than 4.2mn extra folks over the course of 2022, most of them residing in rural areas, rising the full variety of energetic cellular traces to 17.5mn nationwide. The protection of the inhabitants with 4G companies exceeded 78%, rising to 14mn connections.

In addition, 6,698 free Wi-Fi factors had been put in in 20 provinces, benefiting 669,000 folks,  

Some of the businesses which have invested within the nation lately are Google, Oracle, Meta, Amazon and Starlink, in keeping with Mintel.

Mintel is now targeted on advancing with the implementation of the nationwide digital transformation agenda for 2022-25 and intends to satisfy many of the targets set by 2024.