Dear Shareholder,

We present this Annual Report which covers the activities of Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc. (the “Fund”) for the twelve-month period ended October 31, 2012. The Fund’s principal investment objective is to seek long-term capital appreciation by investing primarily in equity securities of telecommunications and infrastructure companies in emerging markets.

Total Return Performance

For the year ended October 31, 2012, the total return to shareholders of the Fund based on the net asset value (“NAV”) of the Fund was 16.7%, assuming reinvestment of dividends and distributions, versus a return of 7.0% for the Fund’s benchmark, the MSCI Emerging Markets Infrastructure Index (“MSCI EM Infrastructure Index”).

Share Price and NAV

For the year ended October 31, 2012, based on market price, the Fund’s total return was 16.6%, assuming reinvestment of dividends and distributions. The Fund’s share price increased 14.5% over the twelve months, from $18.03 on October 31, 2011 to $20.65 on October 31, 2012. The Fund’s share price on October 31, 2012 represented a discount of 10.0% to the NAV per share of $22.95 on that date, compared with a discount of 9.9% to the NAV per share of $20.02 on October 31, 2011.

Change to Name and Investment Policies

On November 26, 2012, the Fund announced that the Board of Directors has approved changes to certain investment policies of the Fund.

As a result of these policy changes, the Fund will no longer concentrate its investments in the telecommunications industry and is not required to focus its investment in any industry. However, the Fund may, at the full discretion of the advisor, continue to focus its investments in securities of companies from each of the infrastructure, telecommunications and technology sectors of emerging market countries. The Board approved the removal of the Fund’s fundamental policy to invest, under normal market conditions, at least 65% of its total assets in equity securities of telecommunications companies in emerging markets. Because this policy is fundamental, the proposed change requires approval by the Fund’s shareholders. The Board approved certain other changes to the Fund’s investment policies as set forth below, which will not be effective unless and until shareholder approval of the removal of the Fund’s concentration policy is obtained. The Fund’s shareholders, as of December 20, 2012, will vote on this at an upcoming General Meeting scheduled for Thursday, March 14, 2013

at the offices of Aberdeen Asset Management Inc., 712 Fifth Avenue, 49th Floor, New York, NY.

Open Market Repurchase Program

The fund’s policy is generally to buy back Fund shares on the open market when the Fund trades at certain discounts to NAV. During the fiscal year ended October 31, 2012 and fiscal year ended October 31, 2011, the Fund did not repurchase any shares.

Portfolio Holdings Disclosure

The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available on the SEC’s website at http://www.sec.gov and may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. Information about the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. The information on Form N-Q is also available to shareholders on the Fund’s website or upon request and without charge by calling Investor Relations toll-free at 1-866-839-5205.

Proxy Voting

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities, and information regarding how the Fund voted proxies relating to portfolio securities during the most recent twelve months ended June 30 is available by August 30 of the relevant year: (i) upon request and without charge by calling Investor Relations toll-free at 1-866-839-5205; and (ii) on the SEC’s website at http://www.sec.gov.

Investor Relations Information

As part of our ongoing commitment to provide information to our shareholders, I invite you to visit the Fund on the web at www.aberdeenetf.com. From this page, you can view monthly fact sheets, portfolio manager commentary, distribution and performance information, updated daily fact sheets courtesy of Morningstar®, conduct portfolio charting and other timely data.

Please take a look at Aberdeen’s Closed-End Fund Talk Channel, where you can watch fund manager web casts and view our latest short films. For replays of recent broadcasts or to register for upcoming events, please visit Aberdeen’s Closed-End Fund Talk Channel at www.aberdeen-asset.us/aam.nsf/usClosed/aberdeentv.

Please ensure that you are enrolled in our email services, which feature timely news from our portfolio managers around the world. Enroll today at www.aberdeen-asset.us/aam.nsf/usclosed/email and be among the first to receive the latest closed-end fund news, announcements of upcoming fund manager web casts, films and other

information. Please note that Aberdeen does not share our shareholder information with any other organizations.

Included within this report is a reply card with postage paid envelope. Please complete and mail the card if you would like to be added to our enhanced email service and receive future communications from Aberdeen.

Please contact Aberdeen Asset Management Inc. by:

·             Calling toll free at 1-866-839-5205 in the United States;

·             Emailing InvestorRelations@aberdeen-asset.com;

·             Visting Aberdeen Closed-End Fund Center at http://www.aberdeen-asset.us/aam.nsf/usClosed/home;

·             Visiting www.aberdeenetf.com.

Yours sincerely,

Christian Pittard

President

Market Review

Telecommunications and infrastructure shares in emerging markets tracked the broader asset class higher over the year under review, despite persistent global growth fears and continued headwinds from Europe. Relief that the Eurozone was saved from a breakup and signs of improvement in the U.S. economy helped stock markets rebound from a weak start. Ample liquidity injections by leading central banks, as well as the U.S. Federal Reserve’s pledge to keep interest rates low for an extended period, also bolstered investor sentiment. However, the rally was cut short in April when a sharper-than-expected slowdown across the developing world and resurgent fears over the solvency of peripheral European nations clouded recovery prospects. Extraordinary support from major central banks to bolster growth subsequently helped markets regain their momentum, but renewed worries over the health of the world economy kept investors side lined.

Government spending over the period in infrastructure development rose substantially across many emerging economies to cushion the impact of the global slowdown. Notably, China accelerated domestic projects, while Indonesia and the Philippines announced plans to spend billions on infrastructure to pump prime growth. India stated that it will invest around one trillion Rupees over the next five years to revamp the country’s creaky infrastructure and restore investor confidence which have been undermined by stalled reforms. The Indian government also expressed its intention to partner with Myanmar and Thailand to build a trilateral highway to provide connectivity and improve economic linkages among the countries in the region. News in the telecommunication sector, however, was less upbeat. Response to India’s 2G mobile spectrum sale was muted and brought in far less revenue than expected. Thailand’s long-awaited 3G auction was widely criticised for being under-priced.

As discussed in previous reports, most of the Fund’s private placement holdings are technology oriented venture capital funds. The most recent twelve-month period saw widespread stability in valuations. Write-ups of private placement holdings generally lag behind the recovery of the public markets. Such increases are driven by increased acquisition, IPO and venture capital financing activity, while write-downs reflect the manager’s judgment with respect to any impairment of value.

Despite fluctuating markets during the period, private placements such as Star Ventures IX benefitted from the appreciation of some holdings, primarily in those companies that had already reached a level of maturity that allowed them to be realized.

Distributions from private placements in this period decreased from the previous twelve months from $1,757,633 to $566,533. In the current period, two of the private placements made significant distributions: TCV IV ($143,224) and JP Morgan Latin America Capital Partners ($105,960). Additional distributions were received subsequent to October 31, 2012. Please see note 13 in the Notes to Financials.

The investment pace of the private placements increased, the Fund funded $68,156 in capital calls during the period, versus $22,500 in the twelve months prior. As of October 31, 2012, the Fund had 5.9% of its total capital commitment still unfunded in its active investments. It is unlikely that the General Partner will implement capital calls for new investments.

Portfolio Review and Performance

The Fund’s NAV total return for the 12 month period ended October 31, 2012 was 16.7%, outperforming the benchmark, the MSCI Emerging Markets Infrastructure Index, by 7.0%.

Once again, the top contributors to the Fund’s performance during the period under review were telecoms companies (telcos). They were: Malaysian telco Digi.Com, Thai mobile phone operator Advanced Info Service (AIS) and Taiwan Mobile. Healthy corporate earnings aided Digi.Com. An increase in subscribers and significant growth in data and value-added services supported its robust top-line performance; a decent dividend policy and capital distribution further underpinned its share price. AIS’ attractive dividend yield buoyed its share price; robust cash flow generation allowed the Thai mobile phone company to repay borrowings and fund generous dividend payouts. Taiwan Mobile also did well on the back of strong operating results and better earnings per share growth, boosted by disciplined capital management.

The main detractors from fund performance at the stock level were Indian mobile phone operator Bharti Airtel, Moroccan telco, Maroc Telecom and China Mobile. Increased competition, higher costs and a

continued need for capital expenditure hurt Bharti’s earnings; it is expanding network coverage in Africa in response to keen competition there. Maroc Telecom also detracted from relative performance as substantial declines in domestic mobile termination rates — wholesale charges to rival providers for connecting calls — depressed revenues. Its international operations, however, saw decent revenue growth and margin expansion. The Fund’s performance also suffered from its underweight to benchmark heavyweight China Mobile, as its share price rallied on the back of good operational performance. Its top-line growth rose by 6.5% in the third quarter, driven by new mobile subscriptions while the average revenue per user showed signs of stabilization as higher data revenue offset the impact of lower voice tariffs.

Outlook

We believe the short-term outlook for equity markets merits continued caution. Stock markets have come under renewed pressure as the boost from the recent bout of central bank intervention proved short-lived. Prevailing headwinds from Europe and uncertainty surrounding the U.S. ‘fiscal cliff’ following President Obama’s re-election could lead to a further correction. Meanwhile, leading

forward-looking indicators point to a further deterioration in the global economic backdrop as weak private sector confidence and uncertain fiscal policy has hurt aggregate demand. With fundamentals showing few signs of improvement, investors are expected to refocus attention on the subdued macro climate and subdued outlook for corporate profits in the months ahead. Nonetheless, industry prospects remain encouraging. Across emerging Asia, governments are expanding public works to counter a slowdown in global demand and sustain growth.

In the longer term, rising urbanization and industrialization in the developing world continue to provide the impetus for greater investments in efficient infrastructure networks. The telecoms sector continues to exhibit steady growth, with developing countries such as China and India accounting for the bulk of the growth. Meanwhile, worldwide smartphone shipments are forecast to reach 1.7 billion units over the next five years, with emerging markets driving sales. This should see a corresponding growth in data services.

Aberdeen Asset Managers Limited

Computershare Trust Company, N.A., the Fund’s transfer agent, sponsors and administers a Dividend Reinvestment and Direct Stock Purchase Plan (the “Plan”), which is available to shareholders.

The Plan allows registered shareholders and first time investors to buy and sell shares and automatically reinvest dividends and capital gains through the transfer agent. This is a cost-effective way to invest in the Fund.

Please note that for both purchases and reinvestment purposes, shares will be purchased in the open market at the current share price and cannot be issued directly by the Fund.

For more information about the Plan and a brochure that includes the terms and conditions of the Plan, please call Computershare at 1-800-647-0584 or visit www.computershare.com/buyaberdeen.