In a space of just ten years, the number of mobile phone subscribers in T&T has increased from 530,000 subscribers in 2004 to 1,980,000 subscribers as at December 2014.
Data from the Telecommunications Authority of T&T (TATT) also shows that the country's telecommunications and broadcasting sectors generated an estimated $5.5 billion in 2013, an increase of four per cent over the previous year. This equates to approximately 3.1 per cent of gross domestic product (GDP).
In response to this rapid development on those sectors, the TATT plans to "develop a healthy equilibrium between industry growth and consumer delight" by strengthening its legislative and other regulatory instruments to drive greater consumer focus in a market traditionally driven by demand.
"Such an environment will increase investor confidence thereby providing a platform for greater investment in the use of ICTs, to their fullest potential, as the country pursues its developmental goals," the agency said in a media release yesterday
By the end of the current financial year 2014/2015, TATT plans to have new consumer quality of service standards regulations (CQoS) out for public consultation. These are aimed at strengthening consumer protection mechanisms in the telecommunications and broadcasting sectors and ensuring users "are better protected and become increasingly empowered, through both technical and consumer service-oriented benchmarks."
The regulations, which will be taken to and passed in Parliament, focus on consumers' right of access, quality of service, customer charter and related matters, consumer obligations and compliance with quality of service standards.
"New consumer quality of service standards regulations is just one of the initiatives TATT is implementing towards sustainable consumer protection within the context of its mandate," the agency said.
"While significant focus is being placed on consumer protection legislation, TATT is also mindful of the need for consumers to become self-empowered and has therefore identified consumer advocacy as one of three major areas of focus for this 2013/2016 Strategic Plan cycle.
"The two other pillars that will impact significantly on consumers are sector transformation (a major component of which is the Legislative agenda) and institutional strengthening to allow TATT to be better able to ensure regulatory compliance within the sector.
"The consumer advocacy initiative combines a number of components including an aggressive consumer education drive aimed at enlightening consumers on their rights, responsibilities and obligations when making purchases and or consuming telecommunications and broadcasting services."