Uzbekistan became the fifth and final Central Asian market to receive 4G LTE this quarter, as Beeline ( VimpelCom ) commercially launched the service in September 2014 . While it represents an important development for the region, we are largely bearish on the technology's short-term future , as the prohibitive cost will keep it out of reach of most subscribers, while 3G remains underdeveloped. Internet costs are some of the highest in the world, due to the landlocked nature of the region and government motivations to censor content. While t here is strong potential in the Central Asia telecoms industry, 4G will not see a significant uptake over our five year forecast period. Instead, we believe Beeline is positioning itself ahead of the return of MTS to the market later in 2014, after the latter had its licence revoked by the government in 2012. Government interference in the sector remains the key risk in the telecoms industry, however, and we tend to believe that this high risk outweighs the potential rewards at the time.