Latin America Business News
Colombia to Spend $200 Million to Expand Its Internet Access
The Latin American country of Colombia is looking to spend upward of $200 million on expanding the country’s internet access by laying fiber-optic networks in 700 towns.
This massive project is just another example of Colombia rising to a new level of growth whereby the U.S. can benefit from it when a new trade agreement gets Congressional approval – says the U.S. Chamber of Commerce.
Part of the $200 million expenditure will also grant at least (2) 4g licenses for wireless and mobile internet to the highest corporate bidder. Once this system is in place smart phones could be introduced to the entire country.
The Colombian government has reached out to giants like Verizon and AT&T in hopes they will submit a bid.
The internet access expansion is expected to help small businesses in the country which make up 96.4% of the economy, yet only 7% of those businesses use the internet. In addition more rural areas of the country will have internet access and become more globally connected.