Viettel to invest $1.5b in Myanmar


HÀ NỘI V – The Government of Myanmar has granted a licence to Việt Nam’s military-run Telecommunications Group (Viettel) to invest in building a modern telecommunication network across the country.

According to Viettel, its US$1.5 billion project will cover 95 per cent of Myanmar’s population in three years.

Under the plan, Viettel will build up 3G technology in frequency bands of 900 MHz and 2100 MHz.The firm will quickly supply the 4G service in the 1800 MHz frequency band if it receives an addition licence from the Government of Myanmar by the end of this year.The two businesses, which were assigned to negotiate a joint venture with Viettel, are Myanmar National Holding Public Limited and Star High Public Company Limited. If the negotiations are successful, they will hold 51 per cent shares of the joint venture.The joint venture with local companies, which have many years of experience, is expected to help Viettel gain easy access to the Myanmar market and build a telecommunication network across the country, meeting local people’s demand.Deputy General Director of Viettel Lê Đăng Dũng said the firm’s long-term investment strategy would cover networks nationwide, providing advanced network quality and applying business methods suitable for each locality.

“We expect we will reach success in negotiations to set up a telecommunication joint venture in Myanmar,” said Dũng.

In the Myanmar Government’s invitation of bidders announced earlier, it shows that more than 60 per cent of the population has used smartphones. With positive growth rate of eight per cent annually, Myanmar is expected to have a correlative data development speed.Viettel has developed its service in newly-emerging markets including Cambodia, Laos, East Timor, Mozambique and Burundi.

Source: Vietnam News