ECONOMY

Chinese telecom giant about to enter Chilean market

SANTIAGO – Chinese telecommunications giant CTG wants to enter to Chilean market. China Telecom Global (CTG) sent a committee to meet national watchdog Subtel to discuss investment in the country. Chilean companies react enthusiastic.  The world’s most important telecommunications company met Chilean telecoms regulator Subtel to discuss setting up shop. Specifically, a CTG delegation, CEO Xiaofeng Deng, and undersecretary of telecommunications Pamela Gidi talked about the national market dimension, its development level and reinforced the company’s intention to invest in Chilean telecommunications. Gidi told newspaper La Tercera: “It is excellent news for the national market that an enterprise of that magnitude is interested in starting investment in Chile. Our command was to go deeper into the competence in terms of telecommunications, and new entrants always bring more and better competence. We hope that the interest of these actors can become a fact in the short term, as well as for future concessions.” According to local newspaper La Tercera, former telecommunications undersecretary Jorge Atton said he and ex-minister Pedro Pablo Errazuriz went to China in 2013 to meet with principal operators. They wanted to dabble into the Asian telecommunications market and seek investment for Chile, promoting the country as telecoms platform for Latin America. China Telecom Global provides products like network solutions, internet, and integrated communication technologies according to Bloomberg. In 2016 China expressed its interest to invest in Chile, installing an optical fiber cable in the south. The important aspect for Chileans is that not only the economy but also technological improvement will receive a boost, as development of telecommunications will allow business move faster.  

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