TRA launches ICT fund to boost fledgling sector

Abu Dhabi: The Telecommunications Regulatory Authority (TRA) launched yesterday the Information and Communication Technology (ICT) Fund, a new venture dedicated to advancing the UAE's ICT sector.

Shaikh Sultan Bin Tahnoun, chairman of the Abu Dhabi Tourism Authority, inaugurated the fund during the Middle East Communications Exhibition.

"The purpose of this fund is to provide for research and development [R&D] in telecommunication, aiming at enhancing the services provided by the sector," Ahmad Al Mazroui, TRA's board member said.

The fund aims to streng-then innovation and the knowledge capital level of the market by providing research, education, and entrepreneurial opportunities.

"The fund's resources are over Dh200 million, and the two telecom companies are contributing 1 per cent of their revenues," Mohammad Al Ganem, ICT Fund vice-chairman said.