The Emirates Telecommunications Corporation (Etisalat) will raise its investments from Dh4 billion to Dh6 billion (DH1=$0.25) within three years to develop the internal telecommunications network and cover expenses of third-generation services, reported the Gulf News daily Thursday.
"Last year, Etisalat's profits rose to Dh2.4 billion from Dh1.971 billion in 1999, up 21.7 percent," communications minister, Ahmed al-Tayer, told the paper.
"Etisalat can compete with foreign telecom players if the sector is liberalized," he said, but he ruled out the possibility of opening up to competitors.
"We are raising our development investments because the local market is more important for us," he added.
Meanwhile, the minister said that Etisalat received offers to develop the telecom networks in other Arab countries, but it is not considering partnerships because they need huge capabilities and human resources, according to the paper.
The corporation, founded in 1976, introduces several services for customers, such as earth and coastal stations, landlines covering the length and breadth of the UAE, submarine cable systems and other utilities -- Albawaba.com
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