América Móvil to invest US$600mn in Dominican Republic over 3 years
Mexican telecoms giant América Móvil has promised to invest US$600mn in its Dominican Republic unit Claro Dominicana over the next three years, América Móvil CEO Daniel Hajj was quoted as saying by local daily Listin Diario.
The announcement was made after a meeting between Hajj and Dominican President Danilo Medina.
"The Dominican Republic is currently the fastest growing country and we will continue investing," Hajj said, adding that the company will invest US$200mn a year in rolling out broadband and LTE networks.
In February this year the three big telcos, Claro, Orange Dominicana/Altice and Trilogy Dominicana, announced investments of more than 18.2bn pesos (US$400mn) for 2016.
Claro is the market leader in the mobile sector with 4.52mn lines at the end of the first quarter, followed by Orange Dominicana/Altice with 3.61mn and Trilogy Dominicana with 415,000, according to telecom regulator Indotel.
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