Telecom calls on mobile phone companies to turn into joint stock companies

Publish July 27, 2021
telecom

SANA'A, Jul. 27 (Saba) - Ministry of Telecommunications and Information Technology has renewed its call for mobile phone companies to quickly implement their commitments to transform into public joint stock companies before granting them 4G licenses.

In a statement issued on Monday, the Ministry considered this procedure an important and obligatory step for mobile phone companies under the Companies Law, the licensing agreement and the policy document for granting licenses to modern generations approved by the Council of Ministers.

The ministry pointed out that the transition to the 4th generation contributes to developing the telecommunications market, promoting investment in it, and providing societal partnership for investment in the telecommunications sector and its services, which is reflected in the development of management and growth of companies, the governance of performance and work in them, and the achievement of transparency and reliability required by mobile phone companies in line with the requirements and goals of sustainable and comprehensive development.

It pointed out that this procedure is one of the main steps to create good conditions and opportunities to provide the appropriate environment for the transition towards operating 4G services with high capabilities.

The Ministry confirmed that the current conditions that companies and the telecommunications sector in general are going through represent an opportunity for mobile phone companies to transform into joint stock companies.

It also confirmed that the government is ready to keep pace with the various necessary measures to encourage mobile phone companies to convert to public joint stock companies through its endeavor to develop the telecommunications market and modernize regulations and legislation in accordance with the best international standards in a manner that facilitates the transformation process.

The Ministry explained that this comes within the framework of the executive procedures to end work licenses for the 2nd and 3rd generation and the transition to modern generations of telecommunications services starting in 2022.

saba

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