Lord Green, the trade minister, has called on regulators to set “cohesive” international standards to encourage multinational companies to invest in new technology.
The former HSBC chairman said the telecoms industry needs to a set of global standards in order for the world’s economy to benefit from the “vast potential” provided by the mobile internet.
“Mobile telephony and technology is beginning to change whole business models in other sectors of the economy, including the public sector, energy, transport and healthcare,” he said at the Mobile World Congress trade fair in Barcelona. “The economy is going to look substantially different in 10 to 20 years time.”
“The British economy faces the challenge of finding a stable growth path that has to come from a better external performance because it is not going to come from consumption growth fueled by debt, and it’s not going to come from government spending,” he said.
“It’s got to come from investment and trade that’s something that’s a challenge for every sector of the economy.”
Lord Green’s comments on regulation come after the chief executives of several of the world’s leading telecoms companies called for “light touch” regulation to give the industry more certainty over the returns on multi-billion investments in next generation 4G networks.
Vittorio Coalo, chief executive of Vodafone, said some regulators are running “on auto-pilot”, he and need to adopt more “forward-looking policies".
Randall Stephenson, chief executive of US telecoms company AT&T, said: “The spectrum [airwave] policies have to be harmonised across geographies. As business people we don't want certainty, but we need predictability.”
Source: http://www.telegraph.co.uk
The former HSBC chairman said the telecoms industry needs to a set of global standards in order for the world’s economy to benefit from the “vast potential” provided by the mobile internet.
“Mobile telephony and technology is beginning to change whole business models in other sectors of the economy, including the public sector, energy, transport and healthcare,” he said at the Mobile World Congress trade fair in Barcelona. “The economy is going to look substantially different in 10 to 20 years time.”
“The British economy faces the challenge of finding a stable growth path that has to come from a better external performance because it is not going to come from consumption growth fueled by debt, and it’s not going to come from government spending,” he said.
“It’s got to come from investment and trade that’s something that’s a challenge for every sector of the economy.”
Lord Green’s comments on regulation come after the chief executives of several of the world’s leading telecoms companies called for “light touch” regulation to give the industry more certainty over the returns on multi-billion investments in next generation 4G networks.
Vittorio Coalo, chief executive of Vodafone, said some regulators are running “on auto-pilot”, he and need to adopt more “forward-looking policies".
Randall Stephenson, chief executive of US telecoms company AT&T, said: “The spectrum [airwave] policies have to be harmonised across geographies. As business people we don't want certainty, but we need predictability.”
Source: http://www.telegraph.co.uk
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