Venezuela plans to develop 4G network with help from Russia & China

2 months ago DieselGasoil Comments Off on Venezuela plans to develop 4G network with help from Russia & China
Venezuela plans to develop 4G network with help from Russia & China

Venezuelan President Nicolas Maduro said his government is planning to invite Russian telecom companies, along with Chinese tech giants Huawei and ZTE, to develop a nationwide 4G telecommunication network in the country.

“I have ordered to make an investment and, together with China’s technologies, Huawei and ZTE technologies and the technologies of Russian companies, bring telecommunications to a new level and make a nationwide 4G network a reality in Venezuela to ensure Venezuela has fast communications, internet, and telephony,” President Maduro said in the speech during the country’s first Innovation, Development, Science and Technology Fair.




Also on rt.com
Russia & China to merge satellite tracking systems into one global navigation giant



Development of the 4G network system will become a part of the Socialist Corporation of the Telecommunications and Postal Services Sector of Venezuela, according to Maduro. The president didn’t specify the range of potential investments into the project.

During Maduro’s latest visit to Russia, Moscow and Caracas reached a preliminary agreement on launching Russia’s Global Navigation Satellite System (GLONASS) in the Latin American state.




Also on rt.com
Years of US sanctions have cost Venezuelan economy $130 billion – official



Since then, the political and economic situation in Venezuela has dramatically deteriorated as the US piled on new sanctions against the Bolivarian Republic. Most recently, Washington imposed a strict ban on Venezuela’s oil exports, the country’s key source of income.

After the Trump administration officially recognized opposition leader Juan Guaido as the interim president, nearly $7 billion in assets belonging to Venezuela’s state oil company PDVSA and its US subsidiary Citgo have been seized. Moreover, Washington demanded foreign companies and banks to avoid dealing with Venezuela under the threat of secondary sanctions.




Also on rt.com
The art of trade war: Chinese firm bans workers from buying American goods & stateside travel



Meanwhile, half a world away, Chinese telecommunication major Huawei and 70 of its affiliates were included in the US trade blacklist due to the threat the company allegedly poses to the US national security. The decision forced Google, Intel, Qualcomm, Microsoft and several other companies to cut business ties with Huawei to comply with the requirements.

For more stories on economy & finance visit RT’s business section