Viettel is making strategic investment into one of Asia’s fastest-growing economies. Entering Myanmar’s telecommunications markets through a consortium, Viettel aims to deliver robust, differentiated ICT offerings that empower Myanmar to grow further as Asia’s next large technology-led economy.
With the combined strengths of Viettel’s experience across markets, and the long-standing experience of its domestic partners, the consortium will cater to the high demand for affordable and high quality data services in the country.
“We enter Myanmar at this historic phase in the country’s reform era, when the country is forecast to witness accelerated economic growth, enhanced also through increased foreign direct investment. Advancing the country’s telecom infrastructure will help us drive a surge in mobile and smartphone subscription penetration, to achieve the government’s target of reaching 90% of the population by 2020. We believe that the role of telecommunications is fundamental in driving Myanmar’s next phase of economic growth”, said Le Dang Dung, deputy general director of Viettel Group.
The consortium will have a total investment of US$ 1.5 billion. Upon the completion of the proposed telecom operating license, Viettel targets to build up nationwide network coverage within the first year of operation and extend access to telecom services to 95% of Myanmar’s population within three years. Customers will benefit from 3G-only network in 900MHz and 2100MHz frequency bands that meet their demand for higher speed and more reliable data services. Viettel also aims to launch 4G services on the frequency band 1800MHz in the near future, subject to additional licensing.
“Viettel has played a key role in transforming Vietnam’s telecommunications landscape over the past several decades. As we apply that experience through our operations in Vietnam and 9 global markets, our vision continues to be to extend connectivity to entire populations, providing unrestricted access across rural and urban geographies. This strong foundation ideally positions us to cater to the untapped telecom market potential in Myanmar” concluded Le Dang Dung.
Headquartered in Hanoi, Vietnam, Viettel is one of the world’s fastest growing telecom operators. With operations in 10 countries across Asia, Africa and the Americas, providing services to 270 million population and 85 million customers, the group reported a total revenues of US$ 10.8 billion and profit of US$ 2.12 billion in 2015.