Dear Shareholder,

We present this Semi-Annual Report which covers the activities of Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc. (the “Fund”) for the six-month period ended April 30, 2012. The Fund’s principal investment objective is to seek long-term capital appreciation by investing primarily in equity and debt securities of telecommunications and infrastructure companies in emerging markets. While permitted to invest in debt securities, the Fund currently is focused on an equity strategy.

Net Asset Value Performance

For the period ended April 30, 2012, the total return to shareholders of the Fund based on the net asset value (“NAV”) of the Fund was 10.3% versus a return of 6.8% for the Fund’s benchmark, the MSCI Emerging Markets (“EM”) Infrastructure Index.

Share Price Performance

For the period ended April 30, 2012, based on market price, the Fund’s total return was 8.2%, assuming reinvestment of dividends and distributions. The Fund’s share price increased 8.0% over the six months, from $18.03 on October 31, 2011 to $19.47 on April 30, 2012. The Fund’s share price on April 30, 2012 represented a discount of 11.7% to the NAV per share of $22.04 on that date, compared with a discount of 9.9% to the NAV per share of $20.02 on October 31, 2011.

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 Form 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 Fund makes the information on Form N-Q 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 additional, timely information to investors, including Fund performance and investment strategy, we would like to highlight the monthly fact sheets including fund manager commentary, which are posted to the Fund’s website at www.aberdeenetf.com. The Fund’s web page also includes daily updates of share price, NAV and details of distributions. If you have any questions in relation to this information or suggestions on how to improve it further, we would be delighted to hear from you.

Please contact Aberdeen Asset Management Inc. by:

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

·        Emailing InvestorRelations@aberdeen-asset.com; or

·        Visiting www.aberdeenetf.com.

For additional information on Aberdeen’s family of closed-end funds, we invite you to visit our Closed-End Investor Center at www.aberdeen-asset.us/cef.

From the site you will also be able to review Fund performance, download literature and sign up for email services. The site houses topical information about the funds, including fact sheets from Morningstar® that are updated daily, tools that permit you to conduct performance charting and timely information from our fund managers, among other data. When you enroll in our online email services, we can ensure that you are among the first to know about Aberdeen’s latest closed-end fund news and receive alerts regarding upcoming fund manager web casts, films and other information.

Yours sincerely,

Christian Pittard

President

Market Review

Telecommunications and infrastructure shares in emerging markets joined the general rise in the broader asset class over the six months ended April 30, 2012. Initially, during the period, Europe’s deepening debt crisis and deteriorating growth in the developed world weighed on sentiment. But markets recovered from the collective sell-off at the turn of the year, thanks to the ample liquidity injections from developed central banks which eased contagion fears. The stock market rebound continued until February amid the return of global risk appetite. Improving U.S. economic data and the Federal Reserve’s commitment to keep monetary policy loose further bolstered sentiment. Towards the period-end, however, slowing growth in major developing economies added to global growth fears while fiscal uncertainty in Europe heightened concerns over the region’s sovereign debt woes.

Lackluster macroeconomic data underscored a broad slowdown. Notably China’s economy decelerated in the face of weakening demand at home and abroad; Beijing cut its 2012 growth target to 7.5%, the slowest pace since 2004, as it seeks to shift the economy towards consumption-driven growth. Elsewhere, higher borrowing costs and the Brazilian Real’s strength cooled Brazil’s economy; declining exports and bad weather undermined Mexico; and while Turkey’s growth in 2011 was robust, it masked a significant economic slowdown in the fourth quarter. The effects of the floods weighed on Thailand, while declining investment and manufacturing moderated India’s expansion.

Sector news was dominated by developments in India, where the Supreme Court scrapped all 2G telecom licenses issued in 2008 following a corruption probe. In response, the government outlined a new policy aimed at simplifying telecom licensing rules, encouraging mergers and acquisitions and improving transparency. In Thailand is investing 350 billion Baht in flood prevention and water management projects after last year’s floods took a toll on the economy.

As discussed in previous reports, most of the Fund’s private placement holdings are technology oriented venture capital funds. The most recent six-month period saw continued volatility in the equity markets as well as a decrease of the overall portfolio valuation. The writedowns of these investments generally reflected the exit value of the holdings in markets pressed for liquidity as the expiration of the funds’ term approaches. Such was the case of the sale of TransAct in TVG Asian Communications Fund II. These write-downs were partially offset by the price appreciation of some public companies held by some of the private placement holdings.

Financing activities for young companies are very challenging indeed in the current macro-economic environment. Some companies are finding it very difficult to fund capital needs. Others are financing growth at valuations reflecting meaningful discounts to previous rounds.

Distributions from the private placement holdings in this period decreased from the previous six months ($224,706 as compared to $753,737). We do not expect to see noticeable growth in distributions given the current state of the markets, especially as it relates to merger and acquisition activity. TCV IV was the main contributor to distributions received in the current period. The main component of TCV IV’s distribution was the proceeds received from the sale of SolArc.

The investment pace of the Fund with respect to the private placement holdings showed a slight increase, funding $33,750 in capital calls during the period (versus $0 in the six months prior). As of April 30, 2012, the Fund had 6.0% of its total capital commitment still unfunded, which is unlikely to be called for the use of future investments.

Outlook

Emerging stock markets may face a further pullback as persistent worries over the health of the global economy weigh on investor risk appetite. Several European economies are already in recession while election results in France and Greece complicate what is already a fragile outlook for the Eurozone. Patchy growth data out of the U.S. have added to an increasingly negative outlook for stocks with the U.S. presidential election looming in November. China’s shift towards consumption-driven growth is unlikely to have an immediate impact, as policymakers still face the challenge of maintaining the delicate balance between supporting growth and containing price pressures.

Despite concerns over the economic backdrop, prospects for the telecom industry appear upbeat. Worldwide IT spending is forecast to rise to US$3.7 trillion this year, an increase of 2.5% from 2011, according to technology research firm Gartner. Expenditure will be driven by the global telecom equipment market, which is benefiting from robust growth in the mobile devices market as well as a more positive outlook for enterprise network equipment. From a regional perspective, emerging markets are expected to generate more than 30% of the worldwide total, despite economic deceleration and volatility in the developed markets.

Within the infrastructure sector, paralysis of policymaking in India has slowed development in the country. However, other emerging economies continue to prioritize infrastructure development, which should foster regional integration and cut business costs, providing further support for companies in the sector. Brazil, for instance, is investing in the sector after many years of neglect; external pressures from the 2014 World Cup and 2016 Olympics will accelerate advances that might otherwise progress at a slow pace. South Africa approved 845 billion Rand-worth of infrastructure spending in its latest budget, while Indonesia’s passage of a land reform legislation last December paves the way for large-scale infrastructure development aimed at supporting domestic growth.

Aberdeen Asset Managers Limited

The Fund has a Dividend Reinvestment and Direct Stock Purchase Plan (the “Plan”), which is sponsored and administered by Computershare Trust Company, N.A., the Fund’s transfer agent.

The Plan allows registered stockholders and first time investors to to buy and sell shares and automatically reinvest dividends and capital gains through our 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.

April 30, 2012

April 30, 2012

April 30, 2012

April 30, 2012

1. Organization

Aberdeen Emerging Markets Telecommunications and Infrastructure Fund, Inc. (the “Fund”) was incorporated in Maryland on October 12, 1993, and is registered under the Investment Company Act of 1940, as amended, as a closed-end, non-diversified management investment company. The Fund trades on the NYSE Amex under the ticker symbol “ETF”.

The Fund seeks long-term capital appreciation by investing primarily in equity and debt securities of telecommunications and infrastructure companies in emerging markets.

Under normal market conditions, at least 80% of the Fund’s net assets, plus any borrowings for investment purposes, are invested in equity and debt securities of emerging markets telecommunications companies and of infrastructure companies. In addition, under normal market conditions, at least 20% (but not more than 24.9% at the time of purchase) of the Fund’s net assets will be invested in equity and debt securities of companies in the infrastructure industry.

2. Significant Accounting Policies

The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements. The financial statements of the Fund are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of income and expenses for the period. Actual results could differ from those estimates. The U.S. Dollar is used as both the functional and reporting currency.

(a) Security Valuation:

Securities for which market quotations are readily available are valued at current market value as of the “Valuation Time.” The Valuation Time is as of the close of regular trading on the New York Stock Exchange (usually 4:00 p.m. Eastern Time). Equity securities are typically valued at the last quoted sale price. If there is no sale price available, the mean between the bid and ask price provided by an independent pricing service approved by the Fund’s Board of Directors (the “Board”) is used. Securities traded on NASDAQ are valued at the NASDAQ official closing price. Prices are taken from the primary market or exchange on which each security trades. Investment companies that do not trade on an exchange are valued at net asset value as reported by such company.

Most securities listed on a foreign exchange are valued either at fair value (see description below) or at the last sale price at the close of the

exchange on which the security is principally traded. Foreign securities, currencies, and other assets and liabilities denominated in foreign currencies are translated into U.S. Dollars at the exchange rate of said currencies against the U.S. Dollar, as of the Valuation Time, as provided by an independent pricing service approved by the Board.

Securities for which market quotations are not readily available, or for which an independent pricing service does not provide a value or provides a value that does not represent fair value in the judgment of the Fund’s investment adviser or designee, are valued at fair value under procedures approved by the Board. In addition, fair value determinations are required for securities whose value is affected by a “significant” event that materially affects the value of a domestic or foreign security which occurs subsequent to the time of the close of the principal market on which such domestic or foreign security trades and before the Valuation Time (i.e., a “subsequent event”). Typically, this will involve events occurring after the close of a foreign market on which a security trades and before the next Valuation Time.

The Fund’s equity securities that are traded on a foreign exchange or market which closes prior to the Fund’s Valuation Time are fair valued by an independent pricing service. The fair value of each such security generally is calculated by applying a valuation factor provided by the independent pricing service to the last sales price for that security. If the pricing service is unable to provide a fair value for a security, the security will continue to be valued at the last sale price at the close of the exchange on which it is principally traded, subject to adjustment by the Fund’s Pricing Committee. This fair valuation model takes into account comparisons to the valuation of American Depositary Receipts (ADRs), exchange-traded funds, futures contracts and certain indices. When the fair value prices are utilized, the value assigned to the foreign securities may not be quoted or published prices of the securities on their primary markets.

The Fund values restricted securities at fair value. The Fund’s estimate of fair value assumes a willing buyer and a willing seller, neither of whom are acting under the compulsion to buy or sell. Although these securities may be resold in privately negotiated transactions, the prices realized on such sales could differ from the prices originally paid by the Fund or the current carrying values, and the difference could be material.

The Fund also invests in venture capital private placement securities, which are classified as Level 3 investments. In determining the fair value of these investments, management uses the market approach which includes as the primary input the capital balance reported; however adjustments to the reported capital balance may be made based on various factors, including, but not limited to, the attributes of the

interest held, including the rights and obligations, and any restrictions or illiquidity of such interests, and the fair value of these venture capital investments.

For the six months ended April 30, 2012, there have been no significant changes to the valuation procedures approved by the Board.

The Fund is required to disclose information regarding the fair value measurements of the Fund’s assets and liabilities. Fair value is defined as the price that the Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. The disclosure requirements utilize a three-tier hierarchy to maximize the use of observable market data, minimize the use of unobservable inputs and establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk, for example, the risk inherent in a particular valuation technique used to measure fair value including such a pricing model and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable.

Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability, which are based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.

Level 1 – quoted prices in active markets for identical investments.
Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments, information provided by the General Partner or investee companies such as publicly traded prices, financial statements, capital statements).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

Equity securities generally are valued at the last quoted sale price or official closing price reported on the exchange (US or foreign) or over-the-counter market on which they trade and are categorized as Level 1 securities. Securities for which no sales are reported are valued at the last quoted mean price provided by an independent pricing service. For equity securities traded on a foreign exchange or market which closes prior to the Fund’s Valuation Time, in order to adjust for events which occur between the close of the foreign exchange they are traded on and the close of the New York Stock Exchange, a fair valuation model is used (as described above). This fair valuation model takes into account comparisons to the valuation of American Depository Receipts (ADRs), exchange-traded funds, futures contracts, and certain indices, and these securities are categorized as Level 2.