1982’s debt crisis forced LAC countries into structural reforms based on privatizing SOEs and liberalizing their economies. ICT sector reform constitutes an important component of the mentioned overall economic reform. During the process，huge amounts of foreign capital flooded in ICT industries in response to foreign capital friendly policies adopted by LAC countries and played important roles in promoting LAC’s ICT development. As the privatization came to an end at the threshold of XXI century，LAC countries switched the tone of their policies by putting more emphasis on attracting foreign capital that may boost technology progress. Although no major changes have been found in LAC countries’ overall policy arrangement，this fine-tuned gesture will impact the structure and volume of foreign capital inflows to ICT sector. Moreover，as 3G technology is gaining popularity among LAC countries，this impact will become even more obvious.